Hello everyone,
We received a check in the mail this week with the following information only:
"Donor's name and address
Memo: This results from a bequest; not a regular gift"
We do not have a formal planned giving program, yet we do know about a few donors who have considered us in their estate plans. We track information on the proposed value of the gift, the type (bequest, irrevocable trust, real estate etc.) and if it's restricted or not. We haven't received any bequest money since our conversion to Tessitura.
So, from the scenario above, receiving a check with very little information (we don't even know if this donor has passed away and can only assume so), does the following seem like a good plan?
1. Create a Planned Giving campaign and keep start date and end date open.
2. Attach funds for our general operating budget and put this gift into "Individual Gifts" since it is cash and not restricted.
3. Add a designation: "Bequest"
4. Is an appeal necessary? It may be later if we ever start a formal planned giving program, but I'm not sure.
Thank you for your help!
Denyse
I think your scenario sounds fine although we don't use specific planned giving campaigns. We currently use the Channel field to track Bequests and IRA gifts as well as Appeals when possible.