FundSvcs Community

 View Only

  • 1.  adding to a CRUT - how is this recorded in Raiser's Edge?

    Posted 09-26-2022 08:32 AM
    Good morning. I hope you had a nice weekend. 

    We have an irrevocable CRUT established in 1998. Last week, we learned the donor is adding to the Trust through stock. I know this will be recorded as a planned gift (we have the planned giving module), but would the amount be the sale amount of the stock? Our Finance Office is managing the logistics, but I am unsure what we should record to count this planned gift. 

    I've read through the archives and saw several mentions of a percentage, but I think this was related to the beneficiary receiving a portion of the Trust upon death. According to our original agreement, we are the sole beneficiary. 

    I appreciate your guidance. 

    Tracy

    ------------------------------
    Tracy Forkin
    Director of Stewardship & Donor Engagement
    Johnson & Wales University
    tracy.forkin@jwu.edu
    ------------------------------


  • 2.  RE: adding to a CRUT - how is this recorded in Raiser's Edge?

    Posted 09-27-2022 09:15 AM
    Hi Tracy, 

    You would add this to the list of assets on the planned gift record. 



    ------------------------------
    Cameron Alzubi
    Director, Gift Administration
    Illinois Institute of Technology
    calzubi@iit.edu
    giftadmin@iit.edu
    ------------------------------

    Original Message


  • 3.  RE: adding to a CRUT - how is this recorded in Raiser's Edge?

    Posted 09-27-2022 09:20 AM

    Thank you.

     

    Is the sale amount of the stock the gift amount we would use?

     

    Best regards,

     

    Tracy

     




    Original Message


  • 4.  RE: adding to a CRUT - how is this recorded in Raiser's Edge?

    Posted 09-27-2022 09:26 AM
    No.  There are two values tracked for fundraising purposes.  The first is the face value of the gifts used to establish the trust.  So, if stock, the average between the high and the low on the date of the gift.

    The second value (reported in the VSE) is the tax-deductable amount of the gift CRUT.

    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





    Original Message


Related Content