We have received our first CGA gift in many years and the first one funded by an IRA and hope that those of you with more experience can help us navigate this gift. Can you review our entry & documentation process for both our totals and VSE reporting? Also, do you have any sample acknowledge letters for this situation? We would love to see some examples.
Our planned giving gift officer consulted Crescendo to generate the following numbers:
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Crescendo description
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Amount
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Banner field
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Present value of the annuity:
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$32,106.89
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Not entered
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Amount transferred (check amount)
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$53,000
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Gift amount
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Charitable gift value:
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$20,893.11
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Auxiliary - Deferred Gift Amount
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After gift entry, our CGA acknowledgement letter will include phrasing from our IRA letters, omitting references to charitable gifts. Because this is not a deductible gift, the amount referenced would be $0.00 instead of the Gift Amount.
Thank you for any help with this! We are excited about this gift and hope that it is just the first of many.
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Maureen Aylward
University of Mary Washington
maylward@umw.edu------------------------------