Donor Advised Funds

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Marianne P. White
Marianne P. White
Seventh Anniversary Photogenic First Comment Facilitator Level 1
in Blackbaud Raiser's Edge NXT®: General Discussion
We have a local community foundation that sends us checks from donor advised funds. What is the best way to remove the community foundation from the annual statement query so that they don't receive a statement for tax deductible gifts?

 
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  • Jen Claudy
    Jen Claudy
    Tenth Anniversary 1,500 Likes 1000 Comments Name Dropper
    It depends on how and where you are entering these gifts.  If you are entering on the Individual's record, with or without a soft-credit to another record, you need to have an indicator on the Gift Record that says the gift is from a DAF.  If you are entering on either the community foundation's record or on an Organization Record for the DAF (i.e. "Robert Hernandez Fund of the Blackbaud Community Foundation") with soft-credits to the Individual, then you can simply exclude those soft-credits and exclude the DAF records from your annual statements process.
  • Cindy Avery
    Cindy Avery
    Tenth Anniversary 10 Comments 25 Likes Photogenic

    Jen Claudy:

    It depends on how and where you are entering these gifts.  If you are entering on the Individual's record, with or without a soft-credit to another record, you need to have an indicator on the Gift Record that says the gift is from a DAF.  If you are entering on either the community foundation's record or on an Organization Record for the DAF (i.e. "Robert Hernandez Fund of the Blackbaud Community Foundation") with soft-credits to the Individual, then you can simply exclude those soft-credits and exclude the DAF records from your annual statements process.

    I enter the gift on the donor's record and do not soft-credit the issuing foundation. Then, I put the name of the DAF in the Reference field. I have a specific letter template for the donor that includes the name of the Fund and references the gift was through the (whatever) Foundation. There is no IRS tax statement on this template. 

  • Marianne P. White
    Marianne P. White
    Seventh Anniversary Photogenic First Comment Facilitator Level 1


    Thank you for your explanation. This is very helpful—


     


    Marianne White


     


     


    Marianne P. White


    SOWELA Executive Director of Institutional Advancement,


      Alumni Affairs and Community Engagement; also serving
    as


      Liaison to the SOWELA Foundation


     


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