FundSvcs Community

 View Only

  • 1.  Seeking CGA Gift Receipt Language & Templates

    Posted 10-29-2024 02:59 PM

    Hi all! I'm hoping someone could help point me to some reliable sources on the required language for CGA gift receipts. Our team just received two CGAs-the first in nearly a decade-so we're building everything from the ground up. If anyone is open to sharing a template or some boilerplate language, we'd be incredibly grateful! Thank you!



    ------------------------------
    Amy Spears
    Institute for Advanced Studies
    aspears@ias.edu
    ------------------------------


  • 2.  RE: Seeking CGA Gift Receipt Language & Templates

    Posted 10-29-2024 03:10 PM
    Amy, if you are the custodian for the CGAs, your Planned Giving Office will likely use PGCalc or Crescendo to determine the valuations. Those software tools also generate proper IRS receipts. If the CGA were established at a financial institution, they would have the data you need to prepare the receipt.

    These are a bit more complex than a standard receipt as you must account for the donor's age, payout rates, asset basis convey, and other items. This is why a software tool as described is needed. You also need to prepare 1099s for the income stream generated.

    Here's a useful resource from PGCalc: CGA-Manual-Contents2014.pdf

    You might want to have a chat with your CFO!

    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




    Original Message


  • 3.  RE: Seeking CGA Gift Receipt Language & Templates

    Posted 10-29-2024 03:22 PM
    Many charities provide donors with calculators to assist in determining the deductible (aka present value) amount of their planned gift. Your receipt must include that information but also the details supporting the calculation.

    While these calculators cannot be used as definitive sources for preparing a receipt, they are helpful in preparing donor illustrations.

    I've just tested three calculators that can be found freely on the web. Here's one that will provide you with some insights:


    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





    Original Message


Related Content