[maggsmae41]

We just received notice of a gift of a $3000, 20 year paid insurance policy. I have no idea how to record this... Can I do it within Raiser's Edge, or should I go ahead and purchase the planned giving tracker? Would that even hlep me? The gentleman who contributed this policy is still living by the way, so it's not like I'm recording actual monies.

Can somebody help me???????

[LeslieDR]

We're only just starting to solicit for planned gifts of this nature, so I'll be interested to hear what others say.

I was thinking that a pledge or recurring gift would work? If you're expecting the $3000 in total over the 20 years, a pledge of that amount OR if you're expecting $3000 each year than a recurring gift should work. In my past experience, the foundation I worked for received the insurance gifts once a year.

In our case our Appeals or Funds would tell us that it is a planned gift.

L

[Mary Ann Brunette]

We have an insurance policy that someone pledged to us years ago that is a Pledge Receivable and I don't agree with that. It's stuck on our books now, and in reality, is the same as someone naming us in their will.

Such gifts are now placed on an "Expectancies" list and noted in the donor's RE file, but NOT recorded as a receivable pledge, which affects the books. I would like to know more about the Planned Giving module's functions, but we record such things in the Notes or Media section of the donor's files with good results.

We also have an employee paying a premium on an insurance policy that will be donated to us at her death. This is handled by putting in the amount of the expected premiums she is paying by biweekly payroll deduction, and each payment goes directly to the insurance company, but is listed as a pledge payment in RE. This is truly a pledge receivable.

[Nina Williams]

We use gift type "other" and a subtype (IRA, Insurance, will, etc) to book any planned giving. We book them in REat $1,000 unless we are given a specific amount. The Finance Office does not book them. This way we have them on file for when they do arrive, we then adjust the gift to $0 and re enter as a cash gift. If it is an estate we book the full amount under a new record linked "Estate of" Though I have booked a bunch of new planned gifts since I have been here, only a couple have actually been paid.
By booking as "Other" we can exclude them from most reports as needed.