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  • 1.  Receipts

    Posted 08-09-2023 08:51 AM

    I am working on revising our receipt process. Is there a turnaround time that we need to adhere to?  For as long as I can remember – I always stuck to a 2 business day turnaround time.

     

    Dina Sorrentino, bCRE-Pro image001.png@01D496D4.8F606780, bcRE-NXT image001.png@01D496D4.8F606780
    Sr. Director for Advancement Services and Research
    Office: 941-359-7593 | Cell: 941-266-1227
    dsorrent@ringling.edu | www.ringling.edu

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  • 2.  RE: Receipts

    Posted 08-09-2023 09:13 AM

    Good Morning Dina, that sounds about right. Both my current and previous organization goal is "72 hours from when the gift was received" obviously that excludes the weekend.

     

    Karry Morton | Director, Gift Services
    Children's Hospital Colorado Foundation
    13123 East 16th Avenue, Box 045 | Aurora, CO 80045
    Phone: 720-777-1742 | Cell: 720-323-3305


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    Original Message


  • 3.  RE: Receipts

    Posted 08-09-2023 09:17 AM
    That remains the best practice. However, I urge my clients to strive for one business day, with the goal being to process all gifts received in the office by 2 PM that day - and a receipt mailed the following day.

    The two business day goal is actually for gifts received anywhere. Ideally, gifts come directly to your office and are processed nearly same day. But I allow for one day if received in another department. This was our goal at Duke and NC State, and we did pretty darn good hitting it most weeks out of the year!

    As an aside, the aasp Best Practice regarding acknowledgments (thank you letters separate from receipts) states those letters should go out within 72 hours. Although, if you combine the receipt with the thank you that 72-hour suggestion is acceptable.

    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


  • 4.  RE: Receipts

    Posted 08-09-2023 09:24 AM
    I should have mentioned some exceptions to these guidelines:
    • Online donations are receipted immediately and electronically. NO PAPER COPIES
    • Recurring donations are receipted annually - assuming you have told donors up-front they will receive just one receipt per year
    • Quirky gifts - including many gifts of property - often take longer than two days to receive approval of the gift and to collect all needed backup for gift recording
    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


  • 5.  RE: Receipts

    Posted 08-09-2023 09:44 AM
    Dina, there is no mandated turnaround time from a regulatory perspective. The donor will need a "contemporaneous"  receipt, which means the donor needs the receipt by the date they file their tax return. However, regulations aside, if we're slow on receipts, we're going to get calls to the office and unhappiness among our donors. For high-volume shops, a 48-72 hour turnaround is a good standard. However, low-volume shops might not even process batches every day. In that case, the standard should be applied from day of processing, rather than day of receipt.


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

    Schedule a 30-minute consultation now:




    Original Message


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