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  • 1.  Gift from an employee retiring plan

    Posted 12-05-2023 06:30 AM

    Hi,

     

    We have a US-based donor who wish to give to UdeM directly from is retiring plans. I think they are some special papers to fill but I'm not quite sure since it's not happening frequently in our organization. Can someone help me with some guidance?

     

    Thanks,


    Eric

     

    ERIC ALLARD
    Directeur des opérations et de la gestion des données
    Réseau des diplômés et des donateurs de l'Université de Montréal
     
    C  514 501-7204
    C.P. 6128, Succursale Centre-ville, Montréal (Québec)  H3C 3J7

    signature_reseau1 CASE Standards Scholar Badge

     



  • 2.  RE: Gift from an employee retiring plan

    Posted 12-05-2023 07:53 AM
    Eric, it is only possible to give you a little advice as we are unaware of the retirement plan or its requirements and restrictions. However, it is probably safe to say that your involvement will be limited. Most of the legwork and paperwork will be required of the donor by their employer.

    However, you may suggest that the donor verify with their employer that the planned donation can be made to a Canadian organization. While your institution may have registered as an exempt organization under the United States-Canada Income Tax Treaty, not all Canadian organizations can receive tax-deductible gifts unless made through a US-based charity. Here's an excerpt from an IRS training guide:

    "Contributions to a foreign charity exempt under IRC 501(c)(3) are not tax deductible under IRC 170(c). Specifically, IRC 170(c)(2)(A) provides that a contributor may take a charitable tax deduction on a donation under this code section provided that the exempt organization was created or organized in the United States or any possession of the United States."

    Similar restrictions apply to qualified charitable distributions (QCDs) from Individual Retirement Accounts (IRA), which is why I suggest the donor doublecheck regarding a distribution from this retirement plan.

    We do not know if the donor is planning on actually making a withdrawal or naming you as a beneficiary. You'll want to ask about that too.

    Otherwise, your involvement is likely limited to acknowledging receipt of the distribution and certifying your eligibility.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




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  • 3.  RE: Gift from an employee retiring plan

    Posted 12-18-2023 01:32 PM

    Hi,

    Utah State University is currently in the process of hiring a Senior Development Officer to lead our planned giving program. I would love to hear from this group insights for effective strategies they have used advertising for such a crucial position.

     

    What advertising channels and approaches has your institution utilized when recruiting for similar roles. If you have had success in finding top talent for planned giving programs or have recommendations on platforms, networks, or strategies, it would be great to hear about your experiences.

     

    Our goal is to ensure that we reach the right audience and attract candidates with the passion, expertise, and commitment necessary to drive our planned giving initiatives forward.

     

    If your institution has a planned giving program, where have you found success in promoting job opportunities within your own network.

     

    Thank you in advance for any insights you can share. I look forward to hearing from you.

     

    Colleen

     

    Colleen Hobson

    Associate Vice President Advancement Services

    Tel: 435-797-1285  Fax: 435-797-1364

     

    890 East 700 North | USU Alumni Center, Room 201A

    Utah State University

    1590 Old Main Hill

    Logan UT 84322-1590

    http://usu.edu/advancement

     

     




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