I have a question about best practices when it comes to oil and gas royalties that have been left to the institution in a planned gift.
We are currently using RE and are trying to figure out a way we can keep track of the oil and gas royalties that are coming in to make sure we are linking them to the correct planned gift or donor. This will make sure we are using the money the way the donor intended.
Does someone have a system that they feel works when trying to keep up with these gifts that come in?
How do you make sure you can tie the money coming in from a company back to the donor?
When a company sells their interest and then money starts to come in from a different company how do you make sure that is all tied together so someone looking at the record will be able to follow the changes?
When you are notified a planned gift will include royalties do you just add notes to the planned gift when you enter it into the system?
Gift Processing Specialist