My planned giving team is currently in the process of revamping our policy and procedures for gifts of life insurance policies when we are both the owner and beneficiary of said policy.  We book the face value of the policy in Raiser's Edge as a planned gift, but we are not sure what to do with the annual payment the donor gives us to go toward the premium payments for the policy.  The biggest question we have is: do we count the annual check given by the donor for premium payments in attainment (as a pledge or otherwise) and credit the donor for the gift in addition to the face value of the insurance policy?

Any answer to this, a place to find information on this subject, or even excerpts from fellow non-profit organization's policy and procedures would be GREAT!!

 Thanks in advance!

Shaz - Insitutional Relations & Development