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Adding Planned Giving

Paige Freeman
  • Updated

To access this page, users must have access to the Fundraising.PlannedGiving security application.

The Planned Giving Plan page stores information about a donor’s planned giving commitment to the organization. Planned giving usually involves a major donation that is structured and that integrates sound personal, financial, and estate-planning concepts with the donor’s plans for lifetime or testamentary giving. A planned gift has tax implications and is often transmitted through a legal document, such as a will or a trust.

A donor can have one or more planned giving plans.

You can access the Planned Giving Plans page in several ways:

  • From the left navigation, select Manage Planned Giving from the Fundraising menu.
  • From the Fundraising Central page, select Manage Planned Giving.

Fnd_Credit records are created for PLANNNEDGIVING and MEMO donations. Users have a choice as to whether a “donation” should be created for a planned giving plan. Typically, a donation order line should not be created when a planned giving plan is created; rather, the more common practice is to create a planned giving plan when the donor commits to the planned giving, but then to create a cash or asset donation when the planned giving gift is received. A PLANNEDGIVING donation order line is simply a memo transaction; no payment can be made and no financial transactions are created.

However, if the organization wants the donor to get immediate credit when the planned giving plan is created, the organization can create a PLANNEDGIVING donation order line that should create a record in Fnd_Credit when the order line is activated. When a PLANNEDGIVING donation is activated, no financial transactions are created.

The same is true for MEMO donations. No financial transactions are created, but when the “donation” is activated, Fnd_Credit records are created.

To define planned giving:

  1. From the Planned Giving Plans page, select +New Planned Giving.
    The Add New Planned Giving page displays, as shown below.
  2. Search for and select the appropriate Donor.
    The donor constituent's Address, Phone, and Email populate automatically.
  3. The Plan ID populates automatically, and can be changed if necessary.
    The Plan ID must be unique within the organization and organization unit. You can relate this ID to an activity and filter on activities recorded against a specific plan.
  4. Select the Plan Type from the drop-down.
    The Plan Type will determine which additional fields display on the page. Depending on the Plan Type selected, an additional section will display at the bottom of the page. Values in the drop-down are populated based on the non-fixed codes defined for the FND "PLAN_TYPE" system type.
  5. Select the Plan Status from the drop-down.
    Giving can only be made to active plans. Values in the drop-down are populated based on the non-fixed codes defined for the FND "PLAN_STATUS" system type.
  6. The Status Date automatically populates with today's date.
  7. Enter the Principal Amount that will be donated according to the giving plan.
  8. If necessary, change the Record Creation date.
    This defaults to today’s date, but this is editable if desired. This is the date the planned giving plan was created.
  9. Enter the plan Description.
  10. Select the Staff Assigned from the drop-down. This is the internal staff assigned to administer the constituent’s planned giving plan. 
  11. Search for the appropriate Planned Giving Professional assigned to manage the donor’s planned giving plan.
  12. Relate the planned giving to a Campaign, Fund, or Appeal, if necessary.
  13. The remaining fields differ depending on the Plan Type selected.
    Those fields could include:
    1. Executor information – The name, phone, fax, and email of the executor of a bequest. The executor is the person named in the donor’s will to carry out the provisions of the donor’s will.
    2. Date of Death – The donor’s date of death. Only available for a bequest.
    3. First Payment – This date is for informational purposes only and will not calculate or generate a planned giving payment.
    4. Beneficiary 1 DOB – The date of birth of the beneficiary to receive the donation.
    5. Annuity Rate – The percentage of the annuity rate.
    6. Payout Frequency – For annuities, this is the frequency of the payouts. Values in the drop-down are populated based on the non-fixed codes defined for the FND "PAYOUT_FREQUENCY" system type.
    7. Payout Rate – For annuities, this is the percentage that will be paid out.
    8. Charitable Deduction – The amount of a gift that can be taken as a charitable deduction on taxes. Tax rules limit the amount of charitable deductions you can claim each year, based on your income and the type of asset you contribute.
    9. Annual Income – The annual income from a Charitable Remainder Annuity Trust that you will receive for life.
    10. Transfer Date – The date that ownership of the property identified in the planned giving plan was transferred to the organization.
    11. Tax Free Portion – The amount of a Charitable Gift Annuity gift that is considered tax-free.
    12. Useful Life in Years – For a Life Estate Agreement, this is the number of years over which depreciation can be taken.
    13. Salvage Value – For a Life Estate Agreement, this is the salvage value after the useful life of the asset.
    14. Fund Rate of Return – For a Pooled Income Fund, enter the percentage of the rate of return for that fund.
  14. Add any Comments related to the planned giving, if necessary.
  15. Select Save to save your planned giving and return to the Planned Giving Plans page.
    A record for the donor is created in the FND_Customer table and the Giving Class is updated.