Add a Planned Gift Screen

Import for PGM

To import data from PG Manager, select this link and browse to the PG Manager file that contains the data to import.

Prospect plan

Select to which plan associated with the prospect the planned gift applies.

Status

Select the status of the planned gift, such as Proposal or Accepted.

Expected maturity year

Enter the year in which you estimate that all conditions for the planned gift will be met and the balance allocated to the final recipient. For example, this may be the year the last beneficiary is estimated to pass away, it may be based on a fixed time period, or it may be stated another way in accordance with the terms of the vehicle.

Planned gift vehicle

Select the type of a planned gift. The vehicle defines the way the gift conditions are structured, based on generally accepted legal instruments to transfer a planned gift to an organization. Gift vehicles may change as applicable tax laws are amended and new vehicles are devised by attorneys and financial planners.

See also, Planned Gift Vehicle Types: Requirements to Add Planned Gifts as Revenue.

Subtype

After you select a planned gift vehicle, you can select the subtype of the vehicle. A Charitable gift annuity has three pre-defined vehicle subtypes: Deferred, Flexible, or Commuted Payment. You can create and manage vehicle subtypes for other vehicles from Major Giving Setup.

Anonymous gift

If the prospect requests to make the planned gift anonymously, select this checkbox.

Revocable

If the prospect can revoke the planned gift, select this checkbox. Planned gifts with the Revocable checkbox cleared are considered non-revocable. Planned gifts with a status of “revocable” may appear in a different general ledger account than planned gifts with a “non-revocable” status.

For information about how to map revocable and non-revocable planned gifts see the Administration section of the help file.

Gift amount and Date

Enter the total amount of the planned gift and date the prospect offers it.

Recognition amount

Enter the recognition amount of the planned gift as necessary.

Net present value and As of

Enter the net present value of the planned gift, or the value of the gift on the date it matures, and the date to which the net present value applies.

Realized amount

Enter the amount of the planned gift after it has been settled and distributed.

Remainderman %

For a unitrust, trust, or vehicle of type Life insurance, Retained life estate, Bequest, Retirement plan assets, or Other, this field appears. Enter the percentage of the property due the person or institution that inherits the property.

Remainder value and As of

Enter the expected income amount for your organization once all the conditions for the planned gift are met and the date to which the remainder value applies.

Discount rate and As of

For a unitrust, trust, Other, or vehicle type of Charitable gift annuity, Pooled income fund, or Retained life estate, this field appears. Enter the current discount rate for planned gifts, as obtained from the Internal Revenue Service (IRS), along with the date.

Probate status and As of

For a Bequest, Retirement plan assets, or a vehicle of type Other, this field appears. Select the status of the planned gift in the probate court and the date to which the status applies.

Payout percentage

To track the payout as a percentage of the planned gift amount, enter the percentage to use.

Payout amount

To track the payout as the amount paid of the planned gift, enter the amount to use. For example, for a fixed-payment gift, enter a full year’s payout amount.

Payment frequency

Select how often a payout is made, such as Annually or Quarterly.

Payments start and Payments end

Select the dates of the first and final payouts.

Total payout

Enter the total amount paid of the planned gift.

Life insurance premium

Prospects may donate life insurance policies to your organization, such as policies that no longer fits the needs of their families. For a planned gift vehicle of Life insurance, enter information about the policy, such as its premium amount and payment frequency and due date.

Pooled income fund

A Pooled Income Fund (PIF) collects gifts from several donors into one fund, with each donor assigned a number of units based on the proportion of the PIF’s total amount that the donor’s gifts represent. On a quarterly schedule, investment earnings from the PIF are paid proportionally to the designated beneficiaries of each of the donors, based on the number of units.

When prospects donate PIF units to your organization, your organization receives the donor’s proportional share of the current total of the PIF when the last designated beneficiary for the donor’s gift passes away. For a planned gift vehicle of Pooled income fund, enter information about the PIF and its units donated to your organization.

Term type

For a unitrust, trust, Other, or Retained life estate, this field appears. Select the type of term assigned to the planned gift, such as Fixed term or Lives only.

Term end date

For a unitrust, trust, Other, or vehicle of type Retained life estate this field appears. Select the end date of the term assigned to the planned gift.

Years in term

For a unitrust, trust, or Retained life estate, this field appears. Enter the number of years of the term assigned to the planned gift.

Tax ID number

For a unitrust, trust, or Other, this field appears. Enter the tax ID number of the planned gift vehicle.

Exclusion ratio

For a Charitable gift annuity, this field appears. Enter the ratio to determine which portion of the annuity is taxable. The exclusion ratio represents the percentage of each annuity payment that is considered a recovery of principal and, therefore, excluded from the annuitant's gross income. It is calculated by dividing the investment in the contract (the present value of annuity) by the adjusted expected return.

Expiration date

For a Charitable gift annuity, this field appears. Select the end date for the exclusion ratio.

Testamentary

For a unitrust, trust, Other, or Charitable gift annuity, this checkbox appears. Select whether the planned gift is testamentary, or arises upon the death of the testator and is specified in his will. Testamentary trusts are distinguished from inter vivos trusts, which are created during the settler’s lifetime.

Gift value is nominal

For a vehicle type where the ultimate amount of the proceeds are unknown, such as a Charitable remainder unitrust, Bequest, Other, or Retirement plan assets, this checkbox appears. Select whether the value of the planned gift is a projected, or nominal, value.

Gift is contingent

For a unitrust, trust, or vehicle of type Bequest, Retirement plan assets, or Other, this checkbox appears. Select whether the planned gift is contingent upon conditions in the supporting legal documents.

Trust held outside

For a unitrust or trust, this field appears. This field also appears for vehicles of type Other and Charitable gift annuity. Select whether the planned gift vehicle is held outside.

Do not receipt

If you configure planned gift receipts for specific vehicle types from the Major Giving Setup page, Do not receipt is enabled for planned gifts with those vehicle types. But if Revocable or Trust held outside are selected, Do not receipt is selected and disabled.

Organization is beneficiary

For a vehicle of type Life insurance, this checkbox appears. Select whether your organization is a beneficiary of the life insurance policy.

Organization owns policy

For a vehicle of type Life insurance, this checkbox appears. Select whether your organization owns the life insurance policy.

Living Trust

For a bequest, this checkbox appears. For a bequest when the gift is held in a legal trust, select whether the trust is a living trust, or an inter vivos trust, which is created while the donor is alive.

FLIP situation

For a Charitable remainder annuity trust and charitable remainder unitrust, this checkbox appears. Select whether this annuity trust or unitrust is a flip to a standard unitrust. A flip occurs when a specific event or date occurs. If a flip occurs, select the checkbox and then select the trigger event and date.

Trigger event and Trigger date

For a charitable remainder unitrust and charitable remainder annuity trust, you can select a trigger event for the trust and enter a date.