Undeliverable or Uncashed is Unacceptable!
-Uncashed checks, or tax forms and checks returned undeliverable! These are some of the most frequent and frustrating challenges for administrators of life income gifts.
With outright gifts, you deposit a donor’s check or other form of donation, send an acknowledgement letter, enter the person into your database, and reach out periodically. You certainly try to keep up with people’s moves … but for life income gifts, the stakes are a bit higher. Your organization must make income payments on a scheduled basis.
What to do?
Never Surrender! (Or Surrender Now!) – The Relinquishing of Life Income Gifts
-One of the planned giving trends that has evolved in recent years is the voluntary termination of life income gift arrangements. While not a part of the original intent in the creation of these gift plans, surrendering the remaining lifetime income in these split-interest gifts has become popular for a number of reasons. Certainly, there are obvious benefits to the sponsoring charitable organizations – these terminations eliminate the charity’s ongoing liability for payments, and of course, they receive the remainder amounts sooner than otherwise would be the case – but there are also benefits to the donors who relinquish their interests.