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"Bequest" counting

  • 1.  "Bequest" counting

    Posted 21 days ago
    Hi all,

    We recently received a notification that a donor is leaving us a bequest in the form of an annual payout from a DAF. The information we received is that an annual dividend of $20k per year will be paid in perpetuity. Is this countable per CASE since the bequest is technically not to our institution? We have no further documentation on the terms of the DAF. Technically the donor did satisfy the requirement of notifying us in writing of the bequest, but I'm struggling with if it counts since there is a third party involved.

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    Mandy Smith
    Director of Gifts and Records Management
    Virginia Commonwealth University
    mlsmith4@vcu.edu
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  • 2.  RE: "Bequest" counting

    Posted 21 days ago
    You can note this as an expectancy.  But unless you receive something in writing from the DAF indicating their intent to satisfy this "grant request," then you cannot count the intention.  With that documentation, though, you would need to put the expectancy on the DAF record with soft-credit to the individual.

    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