Q: Why is Pooled Fund Organizer (PFORZ) the right software for administering our Pooled Income Fund(s)?
A: Pooled Fund Organizer is designed specifically to address the accounting and processing functions unique to Pooled Income Funds.
Q: How does PFORZ store the donor and gift information for Pooled Income Funds?
A: Pooled Fund Organizer is a relational database that stores person and gift information in separate records, allowing for a person (donor) record to be linked to as many gift records as necessary.
Q: How are the units recorded for the Pooled Income Fund participants?
A: The units in a Pooled Income Fund are associated with each particular gift, so that information is recorded and stored in each individual gift record.
Q: How does PFORZ assign units for gifts to Pooled Income Funds?
A: PFORZ calculates and assigns units for gifts based on four different calculation methods, including Average Market Value and Net Asset Value, which cover virtually all of the Pooled Income Funds in existence.
Q: How does Pooled Fund Organizer handle distributions of net income?
A: PFORZ allows net income to be paid either on an estimated basis or on an actual basis. The software also allows for multiple adjusting and correcting distributions either during or at the end of the calendar year.
Q: Can Pooled Fund Organizer issue payments?
A: Pooled Fund Organizer can print checks and initiate EFT direct deposit payments or it can produce a file of payment information for upload to any check writing system.
Q: Does PFORZ handle the tax reporting?
A: PFORZ aggregates income and tax reporting information at the fund level, and then allocates the proportional amount to each unit holder. The software produces the Federal and California K-1 tax forms, the Massachusetts 2G tax form, and merge files for K-1 letters to fund participants.
Q: Does Pooled Fund Organizer handle the FASB (liability) calculations?
A: Pooled Fund Organizer is a module of PG Calc’s GiftWrap software, which calculates the estimated liability for all life-income gift arrangements according to the methodology required by the Financial Accounting Standards Board.
Q: What other time-saving functionality does PFORZ offer?
A: PFORZ calculates the rate of return, market values, and produces the annual report for each fund.
Q: Does PFORZ have limits on the number of funds or records it can handle?
A: No, PFORZ can handle multiple funds, any number of participants, and, for that matter, for any number of organizations. The pricing is built on the service level, which corresponds directly to the number of gift records and the number of organizations.
Q: How quickly can I get started with PFORZ?
A: Pooled Fund Organizer usually can be installed in a matter of minutes, and the initial entry of data for a single organization and a small Pooled Income Fund (fewer than 20 participants) can easily be accomplished in a couple of hours at most.
