GiftWrap has six optional modules that clients can select to integrate into their programs:
Payment & Tax
Pooled Fund Administration
Payment & Tax Module
The GiftWrap Payment & Tax module produces 1099-R forms and beneficiary payments by check or electronic fund transfer.
- Use GiftWrap to produce checks and electronic funds transfers for income beneficiaries. Alternatively, use GiftWrap to create a file of payment information suitable for uploading into another check writing system or general ledger Gift administration.
Recent enhancements include:
- Clearer and more secure auditing of payments. Payment snapshots enhance your ability to track individual payments that have been issued by check or EFT. A new payment status field allows you to track individual payments more precisely, and mark a payment as “Stop Payment,” “Void,” or “Pending Return,” as well as view last recorded check number stored and displayed on the payment form.
- Ability to write final distribution checks to Remainder Beneficiaries for terminated gifts, which is part of improved support in GiftWrap for Remainder Beneficiaries at the Org level, PIF level, and Designation level.
Bequest Manager is a feature-rich module that supports the recording, tracking, and valuing of bequest gifts, stewarding of bequest donors, family members, and advisors, and management of bequest gifts through probate.
Collect every piece of information regarding bequest gifts that you desire, including bequest type (will, revocable living trust, or beneficiary designation), asset type, gift status (intention through full distribution), associated dates (notification, estate filing, close date, etc.), and more. With the right data, your ability to report and project will be treasured at your organization. Bequest pipeline report? Easy. Program Statistics and Overview? No problem. And that’s just the start.
Bequest Manager also supports the softer side of bequest administration – including effectively supporting anonymity for donors who desire that, as well as supporting a legacy society for donors that appreciate recognition.
Advanced Analysis Module
The GiftWrap Advanced Analysis module provides expanded analysis tools for remainder expectancies, years to exhaustion, historical gift values, and overall program statistics reports that facilitate program evaluation and analysis. This module also includes improved handling of negative annuity balances.
The Program Overview and Statistics report, which is included in the Advanced Analysis module, is organized by gift type and displays various categories of data including, but not limited to the following:
- Gifts by subtype
- Average/median gift amounts
- Average/median deferral period
- Gifts by amount category
- Total and average/median distribution amounts
- Average/median payout percentages
- Average/median age at time of gift
- Average current age
- Average/median age at death
- Total annuitants
- Repeat annuity donors
- Bequests by type and status
- Average time from bequest gift date to date of notice of estate filing
- Full and partial distribution amounts for bequests
Document Storage Module
The GiftWrap Document Storage module provides you with a centralized, digital repository for all your annuity contracts, trust documents, and other document types. You can associate stored documents with person, gift, organization, PIF, and charity entities. Person information and gift information forms now have document tabs, enabling you to store and retrieve associated documents directly from those forms. In addition, there is a document search and retrieval utility that allows you to review all stored documents and to manage those documents globally.
Say good-bye to paper checklists and spreadsheets. The GiftWrap Workflow module is a centralized online resource that automates both routine and exceptional administrative tasks that comprise your Gift administration program workflow. This optional module is particularly useful for tasks completed by multiple people or those requiring review and approval, and includes a reminder and notification system for recurring tasks. This module allows you to replace paper and spreadsheets with centralized resource to track task completions and workflow approval.
For clients using the Bequest Manager module, Workflow streamlines bequest processing and administration. Workflow’s tasks and reminders are especially useful for handling complex estates and bequests going through probate.
For service providers, this module includes change request functionality that allows charity staff to submit change requests for addresses and other data without affecting production data. The service provider then invokes a streamlined process for review and acceptance of any data changes.
Pooled Fund Administration Module
The Pooled Fund Administration Module performs all of the tasks necessary for complete and efficient administration of charitable pooled income funds, designed specifically to address the accounting and processing functions unique to pooled income funds.
With this module, you can administer pooled funds with thousands of participants, and it can be configured to administer separately any number of individual funds. This module dovetails nicely with the portfolio management services your asset manager provides. Fund values and income provided by your asset manager may be entered and then allocated automatically among all beneficiaries. Other functions include unitizing new gifts and allocating year-end tax information.