Planned Gift tracking WITHOUT the Planned Gift module

Lisa Malcolm · June 2015

I would like to know what others users are doing to track planned gifts without the PG module for RE.

Thanks

Heather MacKenzie · June 2015

We enter them as pledges with a gift subtype of annuity, trust, etc.

I'm curious what others do as well...

Deborah McGlauflin · June 2015

We handle them differently depending on whether the planned gift is revocable or irrevocable, and depending on other conditions. If it's revocable (e.g. a bequest intention), we use gift type "Other," If it's irrevocable and we have the documentation to prove it, we may enter it as a pledge. But we don't like to carry pledges on the books indefinitely, so if the donor is still fairly young and in good health, even then we may choose to enter it as "Other." Mostly, we end up using "Other."

Gina Gerhard · June 2015

We do not have Blackbaud's PlannedGiftTracker module but we do have the Prospect module.

We enter irrevocable planned gifts on a gift record and enter revocable ones as proposals.

Ann Milkowski · August 2015

Gina Gerhard:

We do not have Blackbaud's PlannedGiftTracker module but we do have the Prospect module.

We enter irrevocable planned gifts on a gift record and enter revocable ones as proposals.

Gina - We just got the Prospect module so I was searching the forums for how others enter planned gifts with this module and I saw your response. We are looking at entering them as proposals if they are revocable and/or we do not know the exact amount. If we do know the estimated amount AND they are irrevocable we are going to enter them on the individual's gift record as a pledge. When the gift comes in we are going to enter in on the estate's record, use it to pay down the pledge on the individual's record, and soft-credit the individual record. Now that we have this module we are reviewing our overal procedures for planned gifts and since you seem to be on the same track as us, I wanted to see if this procedure is similar to yours. Any tips would be greatly appreciated!

Christine Cooke 2 · August 2015

I agree with all that has been mentioned. One point though in regards to a "younger" donor and having something on the books for so long. 1. If you are tagging the Gift Subtype then you do not have to include them in your reporting. and 2. If you don't already do this, I would make the pledge due date 20 or 30 years from date of notice of the trust/plan so that it is really obvious and does not keep popping up as current expected cashflow..

Gina Gerhard · August 2015

Ann - Here's additional information I got from our Planned Giving staff member Monique:

For irrevocable planned gifts (usually life income vehicles such as CGA’s, CRT’S , etc.), we create a proposal,
Finance books the gift and records a “receivable” on the books.
Then we link the gift and mark the proposal complete.
Once the residue from the gift comes in after the donor (or other income beneficiary) dies, then Finance relieves the receivable and records it as a cash receipt.
Finance does something to project the likely amount coming from the irrevocable vehicles, but I’m not sure exactly how.

Jenny Norton · August 2015

In the old days, before RE, we recorded them as pledges. With RE, we now have the Gift Type of Planned Gift. It is essentially considered a pledge but doesn't have the schedule or send reminders, etc. information. I am in the process of switching all of our old 'pledges' to the planned gift type. I don't remember where I found it on the knowledgebase but there is a detailed PDF on planned gifts.

Jenny

John Heizer · August 2015

Jenny Norton:

In the old days, before RE, we recorded them as pledges. With RE, we now have the Gift Type of Planned Gift. It is essentially considered a pledge but doesn't have the schedule or send reminders, etc. information. I am in the process of switching all of our old 'pledges' to the planned gift type. I don't remember where I found it on the knowledgebase but there is a detailed PDF on planned gifts.

Jenny

That Gift Type of Planned Gift is only available in RE if you purchase the Planned Gift module which Lisa is trying to avoid.

Faith Murray · August 2015

We prefer not to use the gift section of RE for Planned Gift tracking, since the gift is uncertain and may or may not occur 30 years down the road. We simply tag them with a "Planned Giving" Constituent Attribute in RE, and then keep a separate spreadsheet in Excel of anticipated income. Since we have under 100 Planned Givers, and the list only changes a few times a year, it is easier to keep up that way than to make a mess in the RE gift records. If we want to pull a list in RE of Planned Givers, the Attribute works just fine.

JoAnn Strommen · August 2015

Connie,

That's actually similar to what we do also. Until gift is received, it's not entered in RE. We use constituent code and attributes to track a few details but entering $ is not our procedure either.

Someday maybe we will grow into needing to record it or needing the module.

Jacki Balon · August 2015

We use the Proposal only,and don't add them to the gifts tab. On the proposal - we use Bequest in the Name, Use Bequest as the Type of Gift and our use the status of cultivation until such time as the bequest is confirmed, we then change the proposal status to Bequest Stewardship, add the amount expected and add the Intent to Bequeath documentation to the media tab, linked to the proposal record, as well as all contact reports and other types of actions. Our Bequest Manager has her own dashboard of all those marked as Bequests, and this allows her to send invites etc to those who are in Bequest stewardship and keep them engaged.

It works well for us.

Jacki

Melissa Steinbach · August 2015

Hi Jacki, What kind of information do you pull in the dashboard for your bequest manager?

Jacki Balon · August 2015

We have two panels on the dashboard - one for Bequests in Qualification / Cultivation which shows:

RE ID
Constituent Name
Solicitor name (sometimes the Faculty DM works with the Bequest Manager)
Campaign
Proposal Name
Proposal Status (Qualification or Cultivation)

The second panel is for those in Bequest Stewardship:

RE ID
Constituent Name
Solicitor name
Campaign
Amount Expected
If they are an active member of the Bequest socieity (some opt out)

Phil Payne · August 2015

Like many people we have been tracking planned gifts through the Prospect tab using proposals. We do not enter a pledge for revocable gifts. When the gift is realized, we convert their individual record into an organization record and rename it "Estate of ..." then link it with whomever the executor is and/or any family records. That way we don't loose any history from the donor's record, but move the active relationship where it is needed.

Ann Milkowski · August 2015

Gina - Thanks for the additonal information, this sounds similar to the procedure we want to put into place now that we have the Search module.

Martha Spiegel · February 2017

Deborah McGlauflin:

We handle them differently depending on whether the planned gift is revocable or irrevocable, and depending on other conditions. If it's revocable (e.g. a bequest intention), we use gift type "Other," If it's irrevocable and we have the documentation to prove it, we may enter it as a pledge. But we don't like to carry pledges on the books indefinitely, so if the donor is still fairly young and in good health, even then we may choose to enter it as "Other." Mostly, we end up using "Other."

This sounds like a good plan for us as well, since we do not have a budget to add any modules. However, I did a query to see if we have any old gifts entered as "other." There are less than 20, and I have no idea why they were coded as such (all but one were cash gifts, and the other was an in-kind, so it was likely user error). However, there does not seem to be a way to change the gift type. I tried "adjust" on the individual gifts, as well as attempting a global change, but I can't see a way to change the gift type without deleting and re-entering the gift completely. Did you run into this when you started?

Planned Gift tracking WITHOUT the Planned Gift module

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