KEY CONCEPTS AND PROCESSES... 2

Transcription

1 Team Approach Best Practices Planned Giving Module Table of Contents KEY CONCEPTS AND PROCESSES... 2 MANAGING PLANNED GIVING PROSPECTS... 3 RECORDING YOUR CULTIVATION EFFORTS WITH A PROSPECT... 4 ASSIGNING THE PLANNED GIVING PROSPECT CLASSIFICATION... 4 HOW TO CREATE AN ACCOUNT PROJECT RECORD... 5 ACCOUNT PROJECT ENTRY... 6 Stage Codes... 7 WORKING WITH A LIST OF PROSPECTS... 8 RECORDING INTERACTIONS WITH YOUR PROSPECTS AND PLANNED GIFT DONORS... 9 Creating a New Interaction on Account Diary Entry Entering Interactions from the Planned Gift Guidelines for Coding Your Interactions Finding Interactions REVIEWING PRIOR AND CUMULATIVE GIVING TRACKING THE PLANNED GIFT CREATING A PLANNED GIFT RECORD OVERVIEW OF FUNCTIONALITY COMMON TO ALL GIVING VEHICLES TRACKING EXECUTORS, ATTORNEYS, BENEFICIARIES, AND OTHER ADVISORS Adding the Advisor to the Planned Gift Record Adding the Advisor Classification to the Advisor Account ESTATES/BEQUESTS Giving Vehicles and Statuses Business Practices for Bequests TRUSTS Giving Vehicles and Statuses Business Practices for Trusts CHARITABLE GIFT ANNUITIES Giving Vehicles and Statuses Business Practices for Gift Annuities LIFE INSURANCE Giving Vehicles and Statuses Business Practices for Life Insurance Gifts REPORTS Planned Giving Profile Report Planned Giving Summary Report Planned Giving Module, Team Approach Version 5.x 1

2 Key Concepts and Processes This document describes business practices for using the Planned Giving module of Team Approach. Planned Gift prospects can be identified through an Account Project record. The account project record allows you to track your goals and progress and where you are in the cultivation stage with your prospects. The Work with Accounts for a Project screen allows you to see a complete list of your prospects, or filter your list based on priority or where the prospect is in the cultivation cycle. Each time you have contact with a prospect or planned gift donor, such as a telephone call or meeting, create an Interaction on the Account Diary Entry screen. Details of planned gift intentions and active planned gifts are captured on the Planned Gift Information Entry screen. The screen has different views for different types of planned gifts: Annuities, Trusts, Bequests, and Life Insurance. 2 Planned Giving Module, Team Approach Version 5.x

3 Managing Planned Giving Prospects Planned gift prospects include current members/donors already in the database, as well as other individuals with the capacity to make a planned gift, but who are not active donors. These individuals can be added to the Team Approach database and classified as Planned Giving prospects. You can use the Project functionality in Team Approach to track prospects by fiscal year. You should have a project naming convention, e.g., PLANGIVFYXX (PLANGIVFY05) for Fiscal Year With each new fiscal year, the list of prospects/donors should be reevaluated to determine how to move prospects to the new fiscal year project. Assigning the Planned Giving Prospect Classification In addition to (or instead of) the Account Project record, Planned Giving prospects can be assigned a classification that appears on the Account Overview screen. For example, PLANGIV/PROSPECT. About Linking Prospects to Projects Prospects are identified through an Account Project record. The link can be done automatically (through a query and output) or manually on the Account Project Entry screen. This screen allows you to assign a priority to the prospect and track your ask. To review a list of all prospects, use the Work with Accounts for a Project screen. See Working with a List of Prospects on page 8. Interactions and Related to Projects Use the Account Diary screen to record all of your interactions (e.g., phone calls, letters) with prospects. You link all of your interactions back to your project. See Recording Interactions with Your Prospects on page 9. Planned Giving Module, Team Approach Version 5.x 3

4 Recording Your Cultivation Efforts with a Prospect As you cultivate a prospect for a planned gift, you will track your efforts in Team Approach. The table below describes the different details you will track and where to review the information. Each scenario will be reviewed later in this course. Type of Information Where it is Tracked See Stage and Priority of the Account Project Entry Account Project Entry on page 6 prospect Interactions: Phone calls, letters, s Account Diary Recording Interactions with Your Prospects on page 9. Planned Gift Details Planned Gift Information Entry Tracking the Planned Gift on page 18. Prior and Cumulative Giving Account Activity Reviewing Prior and Cumulative Giving on page 17. Assigning the Planned Giving Prospect Classification When you identify a planned gift prospect, assign the Planned Giving prospect classification, e.g., PLANGIV/PROSPECT as pictured below. Note: Once the individual becomes an active planned gift donor or indicates that your organization has been included in the estate plans, you could change the value to one that denotes an active planned gift donor. 4 Planned Giving Module, Team Approach Version 5.x

5 How to Create an Account Project Record You create an account project record for a prospect by following the steps below. Step Action 1. From the Major Donor Account Overview screen, press [F3] or click the Find button on the toolbar to find the account. 2. Once the account is identified: Access the Account Project Entry screen by zooming from the Account Projects block on the Major Donor Account Overview screen. 3. If the account does not have any existing account project records, click <New> when TA displays the message No records exist for this account. Find an account, create a record, or exit? If the account has an existing account project record, click toolbar. on the 4. Press [F9] from the Project field and select the project, e.g., PLANGIVFY Once you have selected your project from the list, click <Create>. Make sure to set the Name field on the project to the individual name (not the account name, e.g., Ms. Sharyn Morris (Account)). This is important to be able to easily pull name-level information like birth date. Planned Giving Module, Team Approach Version 5.x 5

6 Account Project Entry Once you have an account project record for a prospect, you can track important information such as the priority of the prospect and where you are in the cultivation cycle. Enter or adjust these fields on the Account Project Entry screen: Field Stage Status Ask Amount/Date Expected Amount/Date Description Stage indicates where the prospect is in the cultivation process. Stage defaults to ID (Identification) when a prospect record is first created. See below for guidelines on using the different stage options. Set to D (Delete) if you create a project record by mistake. Otherwise, leave the Status set to A (Active). Enter Ask and Expected information. If you prefer, this information can be tracked only within the Planned Gift Information Entry screen, where confidentiality can be guaranteed through controlling access to the screen. 6 Planned Giving Module, Team Approach Version 5.x

7 Field Staff Contacts Description Primary Sol: The Planned Gift Officer (PGO) working with the prospect. Acct Mgr: A non-pgo who has the closest relationship with a donor (like a Major Gifts officer who may have made the referral to the PGO). Priority Steward: The staff member acting as Steward after the gift is closed. The Steward could be the same as the Primary Solicitor. Use to rank the relative priority of your prospects. Stage Codes The following table lists common Stage codes used in Planned Giving. The list appears in the order that a prospect would typically move through the stages. Code Description When to Use ID Identification Prospect has been identified but ask has not been made. TA automatically sets all new project records to this stage. CU Cultivating Prospect is in cultivation. PN Pending Ask has been made, and the PGO is waiting for prospect decision. PL Pledged You have a signed document; pledge has been entered. TA automatically updates the project record with this stage upon entry of a pledge posted to the project. GV Gave Gift You have a signed document; payment has been received and entered. Team Approach automatically updates the project record with this stage upon entry of a gift or pledge payment transaction posted to the project. HO Hold It is not a good time to approach prospect now, but you will approach later. DR Dropped Prospect has been dropped as a prospect. An interaction should be entered for why the prospect has been dropped. Planned Giving Module, Team Approach Version 5.x 7

8 Working with a List of Prospects The Work with Accounts for a Project screen enables you to view a list of all the Planned Giving prospects and navigate easily to different screens to add or view information about the prospect. Step Action 1. Enter a value in any of the search criteria fields listed at the top of the screen. You can press [F9] and select from the list of values available in any of these fields. For example: Set the Project field to the current fiscal year project, e.g., PLANGIVFY08. In addition to setting Project, you might set Priority or Stage if you want to limit your list to prospects that are your highest priority or prospects at a certain stage in the cultivation cycle, e.g., PN (ask has been made). 2. Use the Order By field to sort the prospects in the List Block. You can sort by any combination of the search criteria fields. Enter a comma-separated list of fields or press the [F9] key one or more times to select from the list of values. For example, if you want to sort the prospects first by priority, then alphabetically, you can enter Priority, Alpha Name in the Order By field. If you leave the Order By field blank, TA sorts the prospects alphabetically by name. 8 Planned Giving Module, Team Approach Version 5.x

9 Step Action 3. Once you have selected your search criteria (step 1) and Order By preference (step 2), click <Find> or press [F3]. TA lists all prospects that match the fields you entered. 4. Use the Go to field (first field on the left in the List Block) to access account-based screens such as Account Activity Entry or Account Project Entry. To view or update information on a screen, press [F9] and select a screen from the list of values. Recording Interactions with Your Prospects and Planned Gift Donors Use the Account Diary Entry screen to capture the content of conversations, letters, and solicitations during the cultivation process. Planned Giving Module, Team Approach Version 5.x 9

10 Creating a New Interaction on Account Diary Entry Access the Account Diary Entry screen to record all interactions that you have with your prospects. Note: The following instructions are used when creating an interaction with a prospect for whom you have not set up a planned gift record. Once you have a planned gift record (e.g., the prospect is interested in a CGA), you can create the interaction directly from the planned gift. See Entering Interactions from the Planned Gift on page 11 for instructions. Step Action 1. To create an interaction with the prospect, access the Account Diary Entry screen and click on the toolbar. Hint: From the Major Donor Account Overview screen, you can click <Interactions> to access Interaction History and click on the toolbar to create a new interaction. Team Approach takes you straight into the Account Diary Entry screen with the Create New Interaction window. 2. Enter the date of the interaction in the Date field. Enter the date the interaction occurred, not the date you are entering it. Press [F4] to enter the current date. 3. PG defaults in the Int Category field. Press [F9] to select from the list of interaction types in the Int Type field. See Interaction Types on page 14 for guidelines. 4. Enter the Technique. You can press [F9] to select from a list of techniques. See Guidelines for Coding Your Interactions on page 11 for the list of techniques to use. 5. Click <Create> or press [Enter] to create the interaction. 10 Planned Giving Module, Team Approach Version 5.x

11 Step Action 6. Entering fields on the Account Diary Entry screen: Basic Information: Enter a concise description of the interaction in the Summary field. Use the Comments field to record all your notes about the interaction. Press [F9] in the Name field to select the specific person with whom you had contact. Using the Projects block: Project information defaults if you have had a previous interaction with the prospect. If not, press [F9] and select the project. Solicitor: Set this field to your User ID. This step is very important in order to report on the interactions you have with your prospects. Entering Interactions from the Planned Gift Once a planned gift record is set up, interactions can be entered on the Planned Gift Information Entry screen, to easily link the interactions to the planned gift record. The Interaction History screen and Account Diary view will list these interactions with the other interactions for the account. However, viewing Interactions on the Planned Gift Information Entry screen will filter the interactions and only display those that are linked to the selected Planned Gift record. The following screenshot shows the starting point of the interaction: the Interaction Category, Interaction Type, Interaction Date, and Summary (which defaults to a description of the interaction type). Planned Giving Module, Team Approach Version 5.x 11

12 To complete the interaction, click the chicklet to the left of the interaction to access Account Diary Entry screen. On Account Diary Entry, you can enter the full Comments about the interaction, enter the Solicitor, and use the Response/Next Step block to plan the follow-up action. 12 Planned Giving Module, Team Approach Version 5.x

13 Guidelines for Coding Your Interactions Following are the general guidelines for coding your interactions: Interaction Component Definition Code(s) Interaction Category Code used to group all PG Planned Giving interactions Interaction Type Action the interaction represents See Interaction Types below for a sample list of codes and their purposes. Technique Method of contact Examples: CF = Call from Account; ME = Meeting Solicitor Solicitor or PGO who had the Next Step/Action interaction Planned follow-up action. All interactions should have a Next Step/Action The Next Step/Action is a free-text field. See Setting up Response/Next Step Actions on page 15 for instructions on how to enter the follow-up action and due date. Planned Giving Module, Team Approach Version 5.x 13

14 Interaction Types The following table describes some sample interaction types and when to use them. Interaction Type Description When to Use ACK Donor Received Gift Acknowledgment To record that an acknowledgment was sent. ALERT Planned Gift Alert To generate an automatic message to all staff that the account is a planned giving donor or prospect. This interaction would be set up for all Planned Giving donors and prospects. See Setting up the Planned Gift Alert below. ADVISOR Interact. with Att, Exec, CPA, Pers Rep To record a contact with a planned gift advisor, such as an attorney, executor, or CPA. CULTIVAT Cultivation Move with Donor To record an active move that is part of your cultivation process. FOLLOWUP Follow-up on Previous Contact To record a follow-up call, e.g., to return a donor or prospect s call or send information requested. COLDCONT Planned Giving Cold Contact To capture the first contact you make with a prospect. INQUIRY Prospect Inquiry into Planned Gift To record a planned gift inquiry initiated by the prospect. MAILING Planned Gift Mailing To record planned gift mailings. PGNOTE Planned Gift Note Used to track other comments about the account, e.g., direction from Finance. SOLICIT Donor Solicitation Move To record a solicitation. STEWARD Stewardship To record stewardship efforts with planned gift donors STRATEGY Donor Prospecting Strategy To record discussions with other staff or volunteers about the strategy for a prospect. 14 Planned Giving Module, Team Approach Version 5.x

15 Setting up Response/Next Step Actions Every interaction should have a planned follow-up action. You can create a Next Step/Action (i.e., tickler) for yourself or a colleague. Step Action 1. Set the Status field on your interaction to O for open. 2. In the Staff field enter the person who should be reminded by the tickler. By default, TA sets this field to the User ID of the person who created the interaction. You can press [F9] to select from the list of brief names. 3. Enter text that describes the reminder in the Action field. You can enter up to 256 characters. 4. Enter the Tickler Start Date field according to when the tickler should become active. Enter the Tickler Due Date to track the date by which the action must be complete. Use the MM/DD/YY format. Viewing and Closing Ticklers Step Action 1. You can access the Open Ticklers screen from the Main Menu or by clicking <Yes> at this message, which appears when you first log on to TA if you have at least one open tickler: 2. To view the details of an open tickler on the Account Diary Entry screen, highlight the tickler and press the <Zoom> button to the left of the tickler. 3. After you have completed the action item, you can close the tickler in one of two ways: You can close the tickler from the Account Diary Entry screen by entering a date in the Tickler? End Date field. You can close the tickler from the Open Ticklers screen by entering a date in the Stop Date field. Planned Giving Module, Team Approach Version 5.x 15

16 Setting up the Planned Gift Alert Team Approach has a feature that allows you to display an automatic message to anyone who accesses a particular donor or prospect. You may want to do this for all Planned Giving donors and prospects. Step Action 1. Create an interaction with the Interaction Category PG and Interaction Type ALERT. 2. Enter the text of the alert in the Comments field. 3. Mark the Warning? checkbox on page 2 of the Account Diary screen. * The next time any user accesses an account-based screen for the account for which you created the warning, TA displays the Warnings window. You can click <OK> to close the Warnings window. Finding Interactions When you are working with a specific prospect or donor, you can easily view the interactions you ve had by clicking the <Interactions> button at the bottom of the Major Donor Account Overview screen. You can also use the Interaction History screen to search for your recent interactions with different prospects and donors. The following fields may be helpful in searching for previous interactions: Field Account ID Date Range Staff/Status How to Use Enter an Account ID to limit interactions to a particular prospect/donor. Press [F9] to access the Find an Account window. Enter dates in MM/DD/YY format to find interactions within a certain time period. Press [F4] to enter the current date. Enter your User ID in the Staff field and O in the Status field to find interactions with open ticklers that you sent to yourself. 16 Planned Giving Module, Team Approach Version 5.x

17 Field Solicitor Int Category/Int Type How to Use Enter your User ID to find your interactions. Combine this field with O in the Status field to find interactions that you created that are still open (the tickler was assigned to you or another staff member). Enter PG in the Int Category field to limit to Planned Giving interactions. Use Int Type if you want to find all the interactions of a certain type (e.g., CULTIVAT). Note: When searching for interactions, at minimum you must enter Account ID or Date Range fields. Reviewing Prior and Cumulative Giving The Account Activity screen provides summary giving information for your prospect/donor. In addition to a Cumulative Giving record (indicated by *), there is a separate record for each activity type that the donor has given to. For example, A (Annual Giving/Membership); M (Major Gifts Development); and P (Planned Giving). You can zoom to Account Activity from the Activities block on Account Overview. Cumulative Giving (*) is captured in the Total Pledged and Total Paid fields. The Last and Largest fields may be helpful to review as well. Totals by Fiscal and Calendar Year appear on Page 2 of the screen. Planned Giving Module, Team Approach Version 5.x 17

18 Tracking the Planned Gift Creating a Planned Gift Record To create a planned gift record for an intention or active planned gift, follow the instructions below: Step 1. Action Click <New> on the message or New Planned Gift window. on the toolbar. TA displays the Create 2. Enter the Activity Type field (e.g., P). You can press [F9] for a list of activity types. 3. Enter the planned gift s giving vehicle in the Giving Vehicle field (e.g., BEQ for bequest). You can press [F9] for a list of giving vehicles. 4. Click <Create>. TA displays the new planned gift record on the Planned Gift Information Entry screen. Overview of Functionality Common to All Giving Vehicles The Planned Gift Information Entry screen is comprised of 5 tabs (with an extra tab for Life Insurance Gifts). The Vehicle Details tab varies by type of planned gift. There are different views for Annuities, Trusts, and Bequests/Life Insurance gifts. The remaining tabs are the same, regardless of the type of planned gift. The tabs include: Overview tab: Includes Source Code, Asset Type, and Comments. Receipts tab: Shows transactions entered into Team Approach for the planned gift. Interactions tab: Shows prior interactions related to the planned gift and provides a starting place for creating new interactions. Advisors tab: Shows individuals or organizations connected to the planned gift, i.e., attorneys, insurance companies, trustees, income beneficiaries. 18 Planned Giving Module, Team Approach Version 5.x

19 Field Name Account Gift Number Giving Vehicle Status Fund Source Activity Type Asset Type Comments Description The account s Account ID. The name of the donor appears to the right of this field. The number used to associate transactions with the planned gift record. TA sets this number to "1" for the first planned gift record for the account, and to the next sequential number for all future records. The type of planned gift (e.g., bequest, charitable gift annuity). The status of the planned gift record, e.g., Intention, Estate in Probate. When you create a new planned gift record, TA automatically defaults the status to Cultivating and you should change the Status according to the business rules of the giving vehicle. The fund to which the planned gift should be credited. The source code associated with the planned gift. This can represent, for example, the mailing that the donor responded to that indicated his or her interest in planned giving. The activity type associated with the planned gift record, e.g., P. The manner by which the gift will be paid (e.g., cash, stock, real estate). Free-text comments that describe additional details or restrictions around the planned gift. Planned Giving Module, Team Approach Version 5.x 19

20 Tracking Executors, Attorneys, Beneficiaries, and Other Advisors The Planned Gift Information Entry screen includes Advisor functionality to allow tracking of attorneys, executors, beneficiaries, and other individuals connected to the planned gift. Accounts and brief names must exist for all advisors. In addition to being able to see this information on screen, the Advisor functionality makes it easy to output contact information for advisors in your reports, along with the other planned gift information. Adding the Advisor to the Planned Gift Record To add an advisor to a planned gift, complete the following steps. Step Action 1. Access the Advisors tab of the Planned Gift Information Entry screen. 2. Enter the brief name of the executor, attorney, beneficiary, or other advisor in the Advisor field. You can press [F9] for a list of advisor codes. TA displays the name of the advisor next to the brief name. 3. Enter the advisor's role (e.g., executor, attorney, income beneficiary) in the Advisor Type field. You can press [F9] for a list of advisor type codes. 20 Planned Giving Module, Team Approach Version 5.x

21 Step Action * You can view information about the advisor in the Advisor Information field. This includes the following, if applicable: Account ID, account name, address, telephone number, birth date, deceased date, social security number, and the type of relationship between the contact and the person or account with the planned gift record. * If the advisor does not appear in the list, then either the account does not exist or a brief name has not been assigned. Advisor Types To assign a brief name for an existing account, access the Name Entry screen for the account. Enter a short name (up to 12 characters) for the individual in the Brief Name field, e.g., SBROWN for Samuel Brown. The following is a sample list of advisor types that your organization could use. Advisor Type Description APPRAISE Real Estate Appraiser ATTY Attorney BANK Bank Contact BROKER Stockbroker CPA Accountant EXEC Executor FAMILY Family Member Advisor FINPLAN Financial Planner INCBEN1-2 Income Beneficiary (up to 2) INSURANC Insurance Company REALEST Real Estate Professional REMBEN1-5 Remainder Beneficiary (up to 5) TRUSTEE Trustee Adding the Advisor Classification to the Advisor Account In addition to linking the advisor to the donor through the advisor record, you may want to add a classification, e.g., PLAN GIVING/ADVISOR, to the account for the planned giving advisor. Planned Giving Module, Team Approach Version 5.x 21

22 Estates/Bequests Giving Vehicles and Statuses The following table lists the type of planned gifts that use the Bequest view of the Planned Gift Information Entry screen. Use the Status field to track whether the planned gift is at the intention stage, in probate, or matured. Planned Gift Type Explanation Giving Vehicle Status Bequest Intention Probated Bequest Matured Bequest Business Practices for Bequests Organization named in living donor s will Deceased donor s will, which includes the organization, is in probate Deceased donor s will, which includes the organization, has concluded probate process and monies have been received Topic Intention, Confirmed, and Expected Dates and Amounts BEQ BEQ BEQ N (Intention) E (Estate in Probate) M (Matured) Guidelines Enter the date that you received notification of the donor s intent to make a bequest in the Intended field, and the amount of the bequest intention in the corresponding Amount field. Use the Confirmed? checkbox and Confirmed Date to indicate that you received official notification of a bequest. Use the Expected Amount and Expected Date fields to track the amount you expect to receive and the date. Use the Received Amount to record the sum of the distributions you ve received. Bequest Terms Use the free-text Terms field to capture restrictions or instructions regarding the bequest. Percentage Bequests If the bequest is a percentage bequest, enter the percentage of the estate bequeathed to your organization in the Organization % field. 22 Planned Giving Module, Team Approach Version 5.x

23 Topic Tracking Deceased Status Guidelines When you are notified that the donor has died: Create an interaction on the account to record this notification. Mark the individual as deceased on the Biography tab of the Name Entry screen and capture the date. Handling Estates for Donors With a Living Spouse Handling Estates for Donors Without a Living Spouse Mark the individual deceased. Add title code of EST for Estate of the deceased individual. Mark the individual deceased. Add title code of EST for Estate of the deceased individual. Tracking Attorney Information Create an account for the attorney and assign the attorney a brief name. You can use the attorney s address as the preferred address on the estate account, if there is no living spouse on that account. You can create a new address on the account with attorney information, using a specific address type (e.g. E for Estate) if there is a living spouse on the account and you do not want to change the account s preferred address. Tracking Estate Details Track the dates you request and receive a copy of the will, the estate inventory, and final accounting. Use the Probate Date field when the estate goes into probate and record the Estate Closed Date. Update the Status of the Planned Gift. Tracking Advisors Use the Advisors tab to track the attorney, executor, or other advisor involved with the gift. Planned Giving Module, Team Approach Version 5.x 23

24 Trusts Giving Vehicles and Statuses The following table lists the type of planned gifts that use the Trust view of the Planned Gift Information Entry screen. Use the Status field to track whether the planned gift is at the intention stage, in probate, or matured. Planned Gift Type Explanation Giving Vehicle Status Charitable Remainder Annuity Trust Funded CRAT CRAT N (Intention) A (Active) E (Estate in Probate, Waiting Distribution) M (Matured) Charitable Remainder Unitrust Charitable Lead Annuity Trust Funded CRUT CRUT N (Intention) A (Active) E (Estate in Probate, Waiting Distribution) M (Matured) Funded CLAT CLAT N (Intention) A (Active) M (Matured) Charitable Lead Unitrust Funded CLUT CLUT N (Intention) A (Active) M (Matured) Business Practices for Trusts Topic Guidelines Contract Date and Principal Amount Enter the date the trust was established in the Contract Date field. Enter the Principal Amount. Expected Date and Expected For CLATs and CLUTs, the Expected Amount is the Amount annual payment amount. For example, if the organization receives a fixed quarterly payment of $696.43, set the Expected Amount to $2, For estates, when there is an undetermined residual (e.g., $15K plus undetermined percentage of residual), you may choose not to fill in the Expected Amount unless it is at least a certain amount, e.g., Latest Receipt Date and Received Amount $50,000 or more. Enter the date of the latest distribution and the amount received to date. 24 Planned Giving Module, Team Approach Version 5.x

25 Topic Remainder Date, Remainder Amount, and IRS Remainder Amount Payout Rate, Payment Frequency, First Payment Date Guidelines When the organization is the remainder beneficiary, enter the date the remainder is received and actual remainder amount. The IRS Remainder Amount tracks the estimated remainder value. Enter the income payout rate in the Payout Rate field. Enter the Payment Frequency (annual, quarterly) in the Comments field on the Overview tab. Track the date of the first payment to the income beneficiary in the First Payment Date field. Fair Market Value and Date Enter the current fair market value and the date that reflects the valuation in the Fair Mkt Value and Fair Mkt Value Date fields, respectively. Term of Years Enter the Term of Years or leave blank for a life trust. Organization Percent If the organization is not the only remainder beneficiary, enter the percentage of the trust remainder that you will receive. If you know the other beneficiaries, enter the information in the Comments field. Charitable Deduction Enter the donor s Charitable Deduction. Revocable? Mark the Revocable? checkbox if the donor can revoke the gift. If it is unknown whether the gift is revocable, note it in the Comments field. Tracking Deceased Status When you are notified that the donor has died: Create an interaction on the account to record this notification. Mark the individual as deceased on the Biography tab of the Name Entry screen and capture the date. Handling Trusts for Donors With a Living Spouse Handling Trusts for Donors Without a Living Spouse Mark the individual deceased. Add title code of TRUST for Trust of the deceased individual. Mark the individual deceased. Add title code of TRUST for Trust of the deceased individual. Planned Giving Module, Team Approach Version 5.x 25

26 Topic Guidelines Tracking Attorney Information Create an account for the attorney and assign the attorney a brief name. You can use the attorney s address as the preferred address on the trust account, if there is no living spouse on that account. You can create a new address on the account with attorney information, using a specific address type (e.g. T for Trusts) if there is a living spouse on the account and you do not want to change the account s preferred address. Note that your organization may need to create a new address type of Trust, as this address type is not delivered with Team Approach. Tracking Estate Details For estates, you can track the Will Executed Date, Estate Closed Date, and Final Accounting Received Date. Update the Status of the Planned Gift. Tracking Advisors Use the Advisors tab to track attorneys, trustees, income beneficiaries and remainder beneficiaries. Do not use the Trustee/Co-Trustee fields on the Vehicle Details tab. In a lead trust, your organization is the income beneficiary and the donor is the remainder beneficiary. In a remainder trust, the donor is the income beneficiary and your organization is the remainder beneficiary. Charitable Gift Annuities Giving Vehicles and Statuses The following table lists the type of planned gifts that use the Gift Annuity view of the Planned Gift Information Entry screen. Use the Status field to track whether the planned gift is at the intention stage, active, or matured. Planned Gift Type Giving Vehicle Status Charitable Gift Annuity CGA N (Intention) P (Signed Pledge Agreement, CGAs only) A (Active) M (Matured) Deferred Gift Annuity DGA N (Intention) P (Signed Pledge Agreement, CGAs only) A (Active) M (Matured) 26 Planned Giving Module, Team Approach Version 5.x

27 Planned Gift Type Giving Vehicle Status Flexible Deferred Gift Annuity FDGA N (Intention) P (Signed Pledge Agreement, CGAs only) A (Active) M (Matured) Business Practices for Gift Annuities Topic Contract Date, Principal Amount, and Expected Date Guidelines Enter the date the annuity was established in the Contract Date field. Enter the Principal Amount. Enter the CGA Contract Number in the Comments field on the Overview tab. Enter the date that you expect to receive the funding asset in the Expected Date field. Donor Cost Basis Enter the value of the asset used to fund the annuity, at the time the donor acquired it. For example, a CGA funded with $25,000 of stock could have a cost basis of $10,000. Payment Information Enter the income Payout Rate and the Payment Frequency, which is almost always Q. For the rare Annual or Semi-annual payout, enter the specific month(s) in the Comments field. You can track the donor s preference for Check or Direct Deposit payment in the Comments field. Enter the annual value of the annuity payments in the Annual Payment field and enter the date of the first annuity payment in the First Payment Date field. Charitable Deduction, Discount Rate, and Discount Date Enter the donor s Charitable Deduction. Enter the rate used in calculating the charitable deduction in the Discount Rate field. Enter the Discount Date in MM//YY format (the month of the transaction or either of the preceding two months). Income Information Captures the figures for the first full year of payments if you do not wish to try to keep these fields up to date with changes over time. Remainder Information Enter the Actual Remainder Date and Actual Remainder Value. Tracking the Annuitant When the annuitant is not the donor, use the Advisors tab to connect the annuitant to the gift. Use the advisor type INCBEN or INCBEN2. Deferred Gift Annuities For deferred gift annuities, set up a Tickler as a reminder for when the first payment is due. Create an interaction with the FOLLOWUP interaction type and set it up as a tickler. See Setting up Response/Next Step Actions on page 15. Planned Giving Module, Team Approach Version 5.x 27

28 Life Insurance Giving Vehicles and Statuses The following table lists the type of planned gifts that use the Bequest view of the Planned Gift Information Entry screen, with an additional Life Insurance tab. Use the Status field to track whether the planned gift is at the intention stage or to indicate whether the organization is the named beneficiary or the owner of the policy. Planned Gift Type Explanation Giving Vehicle Status Life Insurance Policy LI Beneficiary Life Insurance Policy Organization is named beneficiary under the donor s life insurance policy Donor transfers ownership of a life insurance policy and agrees to make all remaining premium payments or policy is fully paid up Business Practices for Life Insurance Gifts Topic Tracking Whether Organization is Named Beneficiary or Owner LI N (Intention) B (Beneficiary) E (Estate in Probate) M (Matured) N (Intention) O (Owner & Ben of Policy) E (Estate in Probate) M (Matured) Guidelines Use the Status field. Set to B when the organization is the named beneficiary and O when the donor transfers ownership of the policy. You do not need to use the Owner and Beneficiary fields. Generally, the Owner is either the donor or your organization and this will be clear from the Status field. If your organization is not the sole beneficiary of the policy, the other beneficiary(ies) can be noted in the Comments field on the Overview tab. Tracking Policy Details Enter the name of the company providing the policy in the Company field and the Policy Number. Enter the Face Value, cash Surrender Value, and Surrender Date (in MM/DD/YY format). Enter the length of the policy agreement in the Number of Years field for term life insurance. For whole life, leave it blank. 28 Planned Giving Module, Team Approach Version 5.x

29 Topic Guidelines Tracking Premium Payments Check the Premiums? check box if your organization is paying the premiums. Set up a tickler to remind you when the premiums are due. Create an interaction with the FOLLOWUP interaction type and set it up as a tickler. See Setting up Response/Next Step Actions on page 15. Enter the Premium Due Dates and the Premium Amount. Advisors Set up an account for the insurance company, and identify the account as an INSURANC advisor type on the Advisors tab. Planned Giving Module, Team Approach Version 5.x 29

30 Reports Planned Giving Profile Report The Planned Giving Profile report enables you to view information for one or more planned gifts for one or more accounts. For each planned gift, TA includes the following information, if applicable: contact information for the donor trustees beneficiaries attorney executor bequest details, including: o intention date and amount o confirmed date o expected date and amount o probate date o bequest terms trust/annuity/income fund details, including: o principal amount o donor cost basis o start date o first payment date o charitable deduction information o remainder information o payment information for trust or annuity payments made to the donor. In addition, the report includes details for each transaction entered for the planned gift record. You can use this report to get detailed information about an account s planned gifts in order to better solicit them for additional planned gifts or to steward existing gifts. 30 Planned Giving Module, Team Approach Version 5.x

31 Planned Giving Summary Report The Planned Giving Summary report enables you to view summary and detail information for a set of planned gifts that fit the criteria you enter, e.g., expected gift date, planned gift status, probate date, or giving vehicle. For each planned gift included in the summary, TA includes: giving vehicle details, including: o expected gift date and amount o actual remainder amount information about the donor, including: o social security number o address o telephone number o specific transactions applied to the planned gift, including: o the gift date o payment amount o payment method o fund You can sort the planned gift information by planned gift status, activity type, and fund to see the total number of gifts, their estimated value and total amount paid for the planned gifts. Planned Giving Module, Team Approach Version 5.x 31