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  • 1.  Hard Credit and Acknowledgement Question for Complicated Gift

    Posted 3 hours ago

    This is a first in my 12 years here! We received a gift from a family through their family foundation, through J.P. Morgan, through National Philanthropic Trust, via Paypal. :D  I believe this is our first 5-levels-deep of passthrough in my 12 years here. The letter notifying us of the gift came from J.P. Morgan and indicates "National Philanthropic Trust is pleased to present you with the following charitable grant from a donor-advised fund in the J.P. Morgan Charitable Giving Fund program." Then it lists the family foundation name and the amount.

    Two questions: is National Philanthropic Trust the appropriate hard credit donor? We would then soft credit the family, foundation and J.P. Morgan.

    Then the acknowledgement letter....send to the family saying "thank you for your gift from the X Foundation through National Philanthropic Trust?" Shouldn't the acknowledgement letter recognize the final handoff organization of the monies? Is it required to? Should we just say thank you for your gift from the foundation?

    And yes, we know it cannot include any tax language. Thank you for any feedback you can provide in answering the two main questions!



    ------------------------------
    Rita S. Williams
    Director of Advancement Services
    High Point University, High Point NC
    rwillia0@highpoint.edu
    ------------------------------


  • 2.  RE: Hard Credit and Acknowledgement Question for Complicated Gift

    Posted 3 hours ago
    Hi Rita,

    The NPT is the formal 501c3 sponsoring organization that holds the DAFs. The JP Morgan Charitable Giving Fund is a DAF. The family foundation has an account with that DAF. Therefore:

    NPT is the hard-credit donor, just as you said. As for the acknowledgement, legally speaking no acknowledgement of any kind is required. From a stewardship perspective, you should thank the family foundation for their gift. The interface that the foundation uses to make gifts is through a branded JP Morgan Charitable Giving Fund portal, so I would at least mention that name to help them confirm and close the loop on the gift. I don't think it will help to include the NPT, whose very existence is buried in the fine print on the JPM site. 


    Thank you,
    Isaac Shalev
    Data Strategy Expert
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

    Schedule a 30-minute consultation now:






  • 3.  RE: Hard Credit and Acknowledgement Question for Complicated Gift

    Posted 3 hours ago
    The good news is that you really can't do anything wrong here - no tax receipts can be issued. Only thank-you letters are involved.

    PayPal is just the payment mechanism. The hard credit is very likely the NPT - a DAF.

    The private (family) foundation likely has its account with JP Morgan. So the funds were essentially passed from their account through the JP Morgan DAF to NPT and then on to you.

    So, I would hard credit NPT. And I probably would not send them anything, as most DAFs discourage us from sending unnecessary paper.

    I wouldn't soft credit or acknowledge JP Morgan.

    I would send a thank-you letter (and soft-credit) to the Family Foundation.

    And, if there is a key person at the Family Foundation with whom you worked to orchestrate the gift, I'd send them a letter and give them soft-credit as well.

    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987






  • 4.  RE: Hard Credit and Acknowledgement Question for Complicated Gift

    Posted an hour ago
    Hello, Rita!

    We get a few gifts set up like you mentioned, and we give primary credit to NPT (like John and Isaac mentioned) and then give soft credit to the family foundation. We don't add soft credit for J.P. Morgan.



    CJ Jones

    Associate Director, Development Operations

    765-220-9575

    AmericanRivers.org

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