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In this issue:
Featured Topic: Responsible and Effective Gift Projections
Planned giving software makes it very easy to estimate the benefits of a particular gift plan over its expected life. Just plug in the facts of the gift, make some simple assumptions about future investment returns and the duration of the plan, and voilà, out comes a presentation that describes the projected benefits of the plan in convincing detail. PG Calc's Planned Giving Manager is certainly one of these software packages.
Used wisely, gift plan projections are a powerful educational tool for explaining the operation of gifts such as gift annuities, charitable remainder trusts, and charitable lead trusts, and how they differ from each other. Gift plan projections also can be useful in giving a prospect a sense of the benefits they and their chosen beneficiaries can expect to receive over the life of the plan.
Used unwisely, however, gift plan projections can give prospects too rosy a picture of the benefits they can expect or mislead them into thinking a certain level of benefits is assured when it is not. The plunge in the markets over the last year has brought this issue into stark relief for many gift planners as they have scrambled to soothe the concerns of donors over shrinking payments and plunging remainder values.
How might gift planners approach the creation and presentation of gift plan projections so that they educate rather than mislead?
 Learn more...
Past topics...
Quick Tip: Personalize PGM Diagrams with Donor and Beneficiary Names
Planned Giving Manager 6.2A has a new feature that allows you to add a donor and/or beneficiary name to its diagrams. After selecting a diagram under Presentation Selection, you choose the icons to include in the diagram by clicking Personalization – Icons, and then clicking the Change Icons button. There is now a field above each icon picker in the Change Icons window where you can enter a label for the icon, such as a donor name or beneficiary name, so that it will appear on the diagram. Additionally, you can personalize the more complex diagrams in Programs 3 and 4 with family, beneficiary, and/or spouse names.
Make your diagrams, and therefore your entire proposal, more personalized. Give PGM's custom diagram labels a try!
Help Clip: FASB Calculations in PGM and GiftWrap
Many of our clients work for organizations with fiscal years that end on June 30. If you're one of them, you probably have been getting requests from auditors for the liabilities associated with your organization's active planned gifts. If not, you will be soon, because Financial Accounting Standards Board (FASB) guidelines require all charities to include these liabilities in their annual financial statements. The good news is that both Planned Giving Manager and GiftWrap can perform FASB liability calculations and both include extensive guidance in their respective Help systems on how to go about it.
Learn more...
Do I Have The Current Version of Planned Giving Manager/Gift Annuity Manager?
Calculations using PGM versions prior to 6.2 for gifts made on or after July 1, 2009 will NOT meet IRS requirements.
PG Calc released Planned Giving Manager (PGM) 6.2A on July 24, 2009. The update included important revisions to the gift annuity agreement produced by PGM as required by the state of Tennessee. PGM 6.2 and update 6.2A both include the new 2000CM mortality table required by the IRS for computing the deduction for split interest gifts, such as gift annuities and charitable remainder unitrusts, made on or after July 1, 2009.
Contact Client Support at support@pgcalc.com if you have not received the update or need assistance with updating your PGM software.
Custom Narratives Enhance Donor Communications for the Rhode Island Foundation
James S. Sanzi, Esq., Gift Planning Officer at The Rhode Island Foundation says, “PG Calc’s expert services complement the Foundation’s mission. PG Calc has responded timely and accurately to my recent inquiries about custom narratives, and the Planned Giving Manager (PGM) 6.2A menu options allow for the customization we want to meet the needs of our donors. The Rhode Island Foundation’s partnership with PG Calc helps us offer the sophisticated planned giving options that benefit our donors."
If the text of one or more of the narratives included in PGM does not exactly meet the needs of your organization, PG Calc can create a custom narrative for you. You simply send us our narrative marked with your requested edits, and we will create a revised one for you that will be available every time you open PGM. We also can create a new narrative from scratch when your text is not a close match to one of PGM's standard narratives. (Depending on the scope of work, we may need to charge you for our time – but we will provide you with a cost estimate before proceeding).
If you are interested in customizing one or more of your Planned Giving Manager narratives, send a request to support@pgcalc.com. We will contact you to discuss you custom narrative requirements.
Learn more about the Rhode Island Foundation
Updated Version of Planned Giving for Canadians Now Available
Many U.S. charities – especially colleges and universities – benefit from planned gifts made by Canadian supporters. For 15 years now, the leading resource for those interested in gift planning north of the border has been Planned Giving for Canadians.
Recently revised for 2009 by PG Calc Senior Advisor Frank Minton, this authoritative
e-book not only delves into the details of Canadian tax law, but also offers a wealth of guidance useful in working with planned giving donors and prospects on either side of the border. New this year are numerous prototype materials translated into French.
Learn more about this new release from PG Calc
Webinar: Gifts of Closely-Held Assets - August 27, 2009
Millions of Americans own closely-held assets, such as a family business. For many, it is their most valuable asset. This Webinar will review the common forms of closely-held assets, the opportunities for using them to fund a charitable gift, and the important considerations to keep in mind when contemplating this type of gift.
Date: August 27, 2009
Time: 1:00 pm Eastern
Presenter: Jeffrey Lydenberg
Register
Seminar: Operating an Effective Gift Annuity Program
Are you interested in taking your gift annuity program to the next level by learning about gift annuity program best practices? Our “Operating an Effective Gift Annuity Program” seminar is intended for organizations that are seeking strategies to optimize their gift annuity programs.
This is a joint presentation by two experts in the planned giving field, Frank Minton, Senior Advisor, and Jeff Lydenberg, Vice President, both of PG Calc. This seminar will be held at the John Hancock Hotel & Conference Center in Boston, MA on Monday, September 14.
This seminar will focus on the organization of internal staff and other resources required in managing a successful gift annuity program. Frank and Jeff will also discuss how to explain the way in which gift annuities work in plain English, and a number of other topics.
For more information or to register
Group Training Sessions Available
We are offering both our Planned Giving Manager and GiftWrap training sessions prior to the Partnership for Philanthropic Planning’s National Conference in October. Our sessions provide a solid foundation for individuals who are new to planned giving. These classes may also serve to reinforce the skills and knowledge of experienced gift planners.
October 13-14
Gift Planning with Planned Giving Manager
Introductory and Advanced
Gaylord National Resort & Conference Center, National Harbor, MD
October 13-14
Gift Administration with GiftWrap
Basics, Reports and Analysis
Gaylord National Resort & Conference Center, National Harbor, MD
For more information or to register
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