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Gift Annuity Receipt

  • 1.  Gift Annuity Receipt

    Posted 28 days ago

    I have a donor who has paid $50K via credit card to establish a gift annuity.  The immediate income tax deduction is $22,371.  Is there special language that I need to include aside from the immediate tax deduction I need to include?

     

    Thank you.

     

    Dina

     

     

    Dina Sorrentino, bCRE-Pro image001.png@01D496D4.8F606780, bcRE-NXT image001.png@01D496D4.8F606780
    Director for Advancement Services and Research
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  • 2.  RE: Gift Annuity Receipt

    Posted 28 days ago
    Maybe I'm confused because I don't know a lot about gift annuities but... I would think the tax deduction has no place on correspondence unless you're the donor's tax advisor. "No goods or services...." unless that's not true. What's deductible is not a part of a fundraiser's wheelhouse. Just my two cents and I apologize if I've misunderstood your question. ��

    Carol Nash

    Advancement Coordinator and Database Manager

    The Awty International School

    7455 Awty School Lane  |  Houston, Texas 77055

    Direct: 713-328-5861  |  www.awty.org

     

     

    Houston's Premier International School







  • 3.  RE: Gift Annuity Receipt

    Posted 28 days ago
    Actually, receipts for most irrevocable deferred gifts are somewhat specialized.  Many organizations, therefore, use their gift planning software (Crescendo, PGCalc, etc.) to produce the receipt.  Yes, you can use a standard receipt protocol for these.  "Thank you for your payment of $50,000 for which you will receive a steady stream of income over the next X years, therefore, making your tax-deductible contribution $22,371."  Or words to that effect.  But that's messy.

    If you use one of these planned giving packages I would take a peek at their receipts.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987







  • 4.  RE: Gift Annuity Receipt

    Posted 28 days ago

    Thanks John. We have Cresendo. I wlll take a look.  Thanks so much!