August eRate: Ten IRS Rules You Need to Know to Help Your Donors Make Great Gifts

Ten IRS Rules You Need to Know to Help Your Donors Make Great Gifts

Life is full of rules, and planned giving is certainly no exception. When we talk about IRS rules and planned giving, we mean not only specific sections of the federal tax code, but also IRS rulings, conditions, limitations, and the like. In putting together our webinar for August 27, which will highlight 10 rules that gift planners should know, we thought it might be helpful to provide a brief preview in this format.

In this month's featured article, Jeffrey Frye, Senior Client Services Advisor, presents a review of 10 IRS rules with which you should be familiar.

UPCOMING WEBINAR

Notice: To accommodate clients currently not able to view PG Calc webinars in a group, all registrants will receive a link to a recording of the webinar that they can share with colleagues at their organization. Ordinarily, the recording is available within 1-2 weeks of the live session. Alternatively, additional participants at the same organization who wish to attend the live session may do so for just $25 each.

QCDs Beyond FAQs: A Deeper Look at the Charitable IRA Rollover

Presented by
Edie Matulka

Thursday,
July 30
1:00 - 2:30 pm ET

UPCOMING TRAINING

GiftWrap Essential Functions

July 22-23, ONLINE

Lead Trust School

July 28-29, ONLINE

PGM Anywhere and Charitable Remainder Trusts

August 12-13, ONLINE

PGM Anywhere and Gift Annuities

August 18-19, ONLINE

Quick Tip: Producing Custom Narratives in PGM Anywhere

Over the years, we have created hundreds of custom narratives for our Planned Giving Manager (PGM desktop) clients, ranging from minor modifications of PGM desktop’s standard gift annuity agreements to completely new letters and memos. Did you know that you can add custom narratives to PGM Anywhere, too? In fact, if we have created a custom narrative for you in the past, that same custom narrative will work in PGM Anywhere.

If you are interested in having PG Calc create a custom narrative for you, please contact Bill Laskin at blaskin@pgcalc.com or call 888-474-2252 and ask for Bill.

To install an existing custom narrative in PGM Anywhere, follow these steps:

Find the custom narrative file in the folder where your copy of PGM is stored. (If you don’t know the file name, choose Customize > Narratives in PGM, then double-click your custom narrative. The file name is in the “Name of source file” field.)
Right-click the custom narrative file and open it with Notepad or any other text editor.
Click the narrative text, then press Ctrl-a to highlight the contents of the file and then press Ctrl-c to copy the contents to the clipboard.
Open PGM Anywhere and choose Customize > Narratives.
Click to add a custom narrative.
Click in the “Narrative source text field,” then press Ctrl-v to copy the contents you copied in step (3) into the field.
Fill in all the other fields in the Add Narrative window as desired, then click Done. If you need help on how to fill in any of these fields, click at the top of the screen.
Click Close Customize.

To produce your custom narrative in PGM Anywhere:

Click Presentations, then click the Narratives title bar under Select Presentations. Your custom narrative will be at the top of the Narratives section. Click it.
Fill in all other information in the usual way, and then click Results.

Please contact Client Services at 888-474-2252 or support@pgcalc.com if you would like to learn more about PGM Anywhere.

Recent PG Calc Blog Post

Alphabet Soup: Why Do a QCD When There Is No RMD?

Gift planning doesn’t have to be technical or difficult to understand. Nonetheless, there are some abbreviations that may seem arcane. Here are some abbreviations that can help you raise more money in 2020!

All Trainings Now ONLINE Through 2020

We are excited to announce that we will continue to offer our ONLINE trainings through 2020! During this time we will not offer in person trainings.

Our new ONLINE curriculum includes PGM Anywhere and Charitable Gift Annuities, PGM Anywhere and Charitable Remainder Trusts, GiftWrap and Lead Trusts. See our current schedule with course descriptions.

Although we miss seeing our clients in person, we have had an overwhelming positive response to the ONLINE trainings we have conducted so far. Come and join us!

PGM Anywhere Orientations Are Now Once Per Week!

We have been excited to learn that many of you are making the transition from PGM desktop to PGM Anywhere, and we want you to know that we are here to help you. Toward that end, we have scheduled additional online orientations to help get you up and running on PGM Anywhere. You can view the complete schedule on our website. Keep in mind, you are welcome to attend as many times as you wish! There is no charge for any of our orientations.

PGM Anywhere orientations are a great way to begin your transition to this web-based software or to attend as a refresher. Sign up now!

Time to Update to PGM 7.5D!

On June 12, we sent an email to all Planned Giving Manager and PGM Anywhere users announcing updates that incorporated the American Council on Gift Annuities (ACGA) suggested maximum gift annuity rates that would go into effect on July 1, 2020. Well, July 1 is now behind us and the new ACGA rates are in effect.

If you have not updated your copy of PGM to PGM 7.5D yet, you will see a warning message that your copy of PGM is out of date every time you run it. Don’t ignore this message! Update your copy of PGM as soon as possible so that it can pick the right annuity rate for you every time you run a gift annuity illustration. Note that PGM Anywhere was updated automatically on June 12, so you need take no further action.

If you don't have or can't find the June 12th update email, please call Client Services at 888-474-2252 or email us support@pgcalc.com for help.

Ensure Accurate, On-Time Planned Gift Liability Reporting with PG Calc's Compliance Reporting Service!

PG Calc's Compliance Reporting Service offers liability calculations for your financial statement and gift annuity state report needs.

If you issue gift annuities to donors in one of the states that regulates gift annuities, you may be required to submit annual reserve reports. PG Calc’s Gift Annuity Reserves reports meet the requirements of all states that require these reports, because we stay current with the bewildering maze of state regulations. If required, we can also provide Actuarial Verification.

Charities must report their planned gift liabilities on their annual financial statements. Our service can provide these specialized calculations for gift annuities, remainder trusts, pooled income fund gifts, and lead trusts. Our FASB Liability Reports satisfy the Financial Accounting Standards Board (FASB) 116/117 requirements.

We understand how complex and time consuming this process can be. It can be especially stressful when facing a state-mandated or auditor-imposed deadline. Let us make your job easier by taking on the heavy lifting. We can turn around these reports in 3 to 4 business days; with Actuarial Verification plan on 10 to 15 days.

If you’re ready to get started, call our Client Services number at 888-474-2252 or email us support@pgcalc.com.

We look forward to working with you soon!

PG Calc Was the Right Choice for HopeHealth

HopeHealth is Rhode Island’s oldest and largest nonprofit hospice, palliative, and home care organization, serving more than 8,200 hospice and palliative care patients and their families and 3,300 homecare patients in Rhode Island and nearby Massachusetts during our 2019 fiscal year.

Since 1976, HopeHealth Hospice & Palliative Care has had an unwavering commitment to providing comfort and skilled end-of-life care to patients and their families in their homes, in the HopeHealth Hulitar Hospice Center and in nursing centers throughout Rhode Island. HopeHealth Visiting Nurse offers home care and in-home palliative care to patients recovering from illness or surgery or who may have a chronic illness requiring support.

Bequests from estates and trusts have become a crucial source of funding, enabling HopeHealth to grow into a well-respected safety net of services for those facing serious illness, grief, and loss. Yet only in the past five years has a formal planned giving program taken shape and been established. With limited staff and resources to support a formalized planned giving program, HopeHealth knew they would need to look to an expert for sound advice as they focused on creating a dedicated website that would provide information for donors to explore. HopeHealth determined that PG Calc was an experienced and trusted partner in their region, and that PG Calc's expertise would be helpful to a small shop like theirs.

Kathleen Bentley, Individual Giving Office for HopeHealth, had this to say about PG Calc:

“With PG Calc's guidance and support, we have been able to create a highly customized website, along with print pieces that match our brand, including a download-friendly estate planning guide. Although we have a limited budget and we’re starting off small, we feel like we’re establishing a program that will be sustainable, will get important information into our donor’s hands, and will generate greater interest in estate gifts. PG Calc is a knowledgeable, capable, and responsive partner that has made implementing our marketing plan and projects easy. We feel like we made a great choice and look forward to a long partnership with PG Calc.”

Learn more about HopeHealth.

Learn more about PG Calc Marketing Services.

PG Calc 129 Mount Auburn Street Cambridge MA United States

You received this email because you are subscribed to eRate newsletter from PG Calc .

Unsubscribe from all future emails Update your email preferences to choose the types of emails you receive.