FundSvcs Community

Gift recording hasn't been part of my portfolio for a while, but a few thoughts.

One of the requirements of a QCD is that the charity receive the payment directly from the plan/administrator, so the few that come via the donor can likely be excluded right off.  Similarly any on behalf of donors who don't meet the age requirement, or any that result in a quid pro quo.

In what context are the development staff asking that these distributions be treated as QCDs?  I take it that you're coding these differently in your advancement system?

With respect to receipting, if that's the issue, the longstanding recommended acknowledgment for QCDs is just the standard acknowledgment which adds information addressing the additional QCD requirements: that the payment was received directly from the administrator, that the charity falls into the narrower category of charities that qualify for the QCD, etc.  As far as I know, there is no requirement that the receipt identify the distribution as a QCD or otherwise, and providing the extended receipt for all potentially-QCD distributions appropriately leaves the determination with the donor.

The gold standard is always to get specific information about the nature of the distribution, from the donor or from the administrator of the retirement plan.  I infer that the development staff who are raising questions about the recording are not also volunteering to obtain specific clarification?

My US$0.02 worth; the usual disclaimers apply.

Good luck!

Alan

Alan S. Hejnal (he/him)

Data Quality Manager