Charitable Gift Annuity

Dodie Stogner

So I have posted this into the RE forum but it does include a question concerning the transfer of data into Financial Edge.  We have just received our first CGA and I need to know if entering it as a pledge is the best way to record this in RE and then setting up a subtype for CGA.  Also in FE what is best practices on how to record this on the financial statements - where do I import the total cash and the to be received amount.  Any assistance would be greatly appreciated.

Grace Strother

Dodie Stogner:

So I have posted this into the RE forum but it does include a question concerning the transfer of data into Financial Edge.  We have just received our first CGA and I need to know if entering it as a pledge is the best way to record this in RE and then setting up a subtype for CGA.  Also in FE what is best practices on how to record this on the financial statements - where do I import the total cash and the to be received amount.  Any assistance would be greatly appreciated.

Hi Dodie. The best way in The Raiser's Edge to track charitable gift annuities is to use the Planned Gift Tracker module, which enables you to enter a planned gift with the vehicle of Charitable Gift Annuity. Once you receive cash, you can mark the gift as realized, enter a cash gift, and link that gift to the charitable gift annuity record. KB solution BB153368 provides instructions for this process.

Melissa Graves 2

Grace Strother:

Hi Dodie. The best way in The Raiser's Edge to track charitable gift annuities is to use the Planned Gift Tracker module, which enables you to enter a planned gift with the vehicle of Charitable Gift Annuity. Once you receive cash, you can mark the gift as realized, enter a cash gift, and link that gift to the charitable gift annuity record. KB solution BB153368 provides instructions for this process.

The planned gift tracker is an extra module so you will need to purchase it before you can use it if you do not already have it.

Dodie Stogner

Melissa Graves:
The planned gift tracker is an extra module so you will need to purchase it before you can use it if you do not already have it.

Any other suggestions on a work around as we do not have a plan to purchase that module at this time - this is our first and only planned gift at the moment, 

Gretchen Fritz

Grace Strother:

Hi Dodie. The best way in The Raiser's Edge to track charitable gift annuities is to use the Planned Gift Tracker module, which enables you to enter a planned gift with the vehicle of Charitable Gift Annuity. Once you receive cash, you can mark the gift as realized, enter a cash gift, and link that gift to the charitable gift annuity record. KB solution BB153368 provides instructions for this process.

Hi!  When you say, once you receive the money, is that when the person passes away, or when the person gives you the cash to establish the CGA?

 

Thanks for your help!

Grace Strother

Gretchen Fritz:

Hi!  When you say, once you receive the money, is that when the person passes away, or when the person gives you the cash to establish the CGA?

 

Thanks for your help!

I meant when the person passes away, though you should check with your accounting person to be sure that's the best way for your organization to track it.