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Acknowledging Donor Advised Fund Gifts

Last post 01-26-2009 5:02 PM by Melissa Graves. 8 replies.
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  • 09-25-2008 5:10 PM

    • Jacque Jones
    • Not Ranked
    • Posts 8
    • Organization: Packer Collegiate Institute

    Acknowledging Donor Advised Fund Gifts

    We receive quite a few gifts from donor advised funds (ie Fidelity Charitable Gift Fund).  At the present, we post the gift to the fund's record and soft credit the donor.  We also post a $0 gift to the donor's record in order to generate an acknowledgement letter.  After the letter is generated, we delete the $0 gift from the donor's record.  This is cumbersome but workable -- does anyone know of a better approach?

    I should note that our acknowledgement letter makes it very clear that the gift is a directed gift -- we are sending it to thank the donor for initiating the contribution and so that they will know that the correct amount was received. 

     Any insights appreciated.

  • 09-25-2008 5:24 PM In reply to

    • Nicole McMorrow
    • Top 50 Contributor
    • Posts 141
    • Organization: The Women's Foundation of California
    • Products:  The Raiser's Edge, The Researcher's Edge

    Re: Acknowledging Donor Advised Fund Gifts

    In your donor acknowledgment settings be sure to select Soft Credit Recipients under the Soft Credit Gifts To section (Full amount to all). Then the letter will print to the person you soft credited.

    We select Both and that way get letters for both the donor advisor and the donor advised fund host.

    Nicole Decouzon McMorrow
    Development & Communications Associate
    The Women's Foundation of California
    nicolem@womensfoundca.org
  • 09-26-2008 11:00 AM In reply to

    • Angela Snyder
    • Top 500 Contributor
    • User Since: 2005
    • Posts 34
    • Organization: Wycliffe Bible Translators, Inc.
    • Products:  The Raiser's Edge

    Re: Acknowledging Donor Advised Fund Gifts

    Nicole McMorrow:

    In your donor acknowledgment settings be sure to select Soft Credit Recipients under the Soft Credit Gifts To section (Full amount to all). Then the letter will print to the person you soft credited.

    We select Both and that way get letters for both the donor advisor and the donor advised fund host.

    If you also soft credit spouses then this won't work. A lot of our constituents have separate records for the spouses for other business processes. We hard credit usually the husband and the wife gets the soft credit. As far as I know, there's no way to tell the system not to include these soft credits. You could end up sending two letters to the same house.

    We run a query to find soft credit gifts that should be thanked and then do the letter through an action since you can't mark the soft credit gift as being acknowledged.

    Angie Snyder
    Advancement, Operations Manager
    Wycliffe Bible Translators
  • 01-26-2009 12:26 PM In reply to

    Re: Acknowledging Donor Advised Fund Gifts

    So, you are saying you set up a record for the donor-advised fund and then soft credit the individual. So, what constituency code do you give the donor advised fund record?

  • 01-26-2009 12:33 PM In reply to

    Re: Acknowledging Donor Advised Fund Gifts

    Assuming that the DAF is being held by a foundation - then our constituency code would be Foundation.  They are the legal donor.

    Melissa S. Graves
    Annual Fund Development Services Manager
    Pathfinder International
    Watertown, MA - United States

    *please do not send RE questions to me in private messages or emails unless they are too "private" for public eyes. The point of a forum is to get multiple opinions and also to share the answers with the group.
  • 01-26-2009 12:36 PM In reply to

    • Leslie Heisler
    • Top 75 Contributor
    • User Since: 2002
    • Posts 119
    • Organization: Southwestern Vermont Health Care
    • Products:  The Raiser's Edge, The Researcher's Edge

    Re: Acknowledging Donor Advised Fund Gifts

    For us, sometimes a donor-advised fund woul d have 2 or 3 constituent codes or more.  Our BOT wants the gift reported under the constituent code of the person who initiated the gift.  So if we have three donors who give through Fidelity, one is a physician, one is a trustee and one is an employee, then those three constituent codes are on Fidelity's record and the appropriate code would have to be attached to the gift when it is entered.

    Leslie Heisler
    Southwestern Vermont Health Care
    www.svhealthcare.org
  • 01-26-2009 12:49 PM In reply to

    Re: Acknowledging Donor Advised Fund Gifts

    We do not use gift constituency code for this - we use the gift code to code the DAF gift as having been initiated by another constituency code.

    Melissa S. Graves
    Annual Fund Development Services Manager
    Pathfinder International
    Watertown, MA - United States

    *please do not send RE questions to me in private messages or emails unless they are too "private" for public eyes. The point of a forum is to get multiple opinions and also to share the answers with the group.
  • 01-26-2009 4:35 PM In reply to

    Re: Acknowledging Donor Advised Fund Gifts

    This donor-advised fund gift came through our local Community Foundation. I'm in a quandry. Should I post it on the Community Foundation record and soft credit the individual or set up a new record of the named fund and soft credit the individual.

  • 01-26-2009 5:02 PM In reply to

    Re: Acknowledging Donor Advised Fund Gifts

    I beleive you can do either - it is a matter of preference.  I prefer to keep them on separate records so that a) it is easier to report on activity of just that fund and b) you can set up an "auto soft credit" for gifts from that DAF to SC the recommending individuals

    Melissa S. Graves
    Annual Fund Development Services Manager
    Pathfinder International
    Watertown, MA - United States

    *please do not send RE questions to me in private messages or emails unless they are too "private" for public eyes. The point of a forum is to get multiple opinions and also to share the answers with the group.
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