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eRate Newsletter | December 16, 2021

IRS DISCOUNT RATE: January 1.6%

The Potential Costs of Giving

It’s that most wonderful time of year again – lots of good cheer, too much fruitcake, not enough eggnog – and gifts – so many gifts! We see lots of gifts this time of year, and many different types of gifts – those between persons, certainly, but also gifts by employers, exchanges within groups, and of course, donations to charity. And in certain cases, the gifts fall into more than just one of those categories. In our world of planned giving, we frequently work with gifts that benefit both individual persons and charitable organizations. All of that is good, of course, but some gifts involve potential costs for the person doing the giving. It may seem counter intuitive, but in some cases, there are potential costs of giving.

 

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WEBINAR January 27

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.

Gifts of IRA Assets and Other Qualified Plans

Presented by
Bill Laskin

Thursday,
January 27, 2022
1:00 - 2:30 pm ET

REGISTER

UPCOMING TRAINING

PGM to PGM Anywhere FREE

January 6, Online (90 minutes)

PGM Anywhere and Gift Annuities

January 18-19, Online (4 hours over 2 days)

PGM to PGM Anywhere FREE

February 8, Online (90 minutes)

PGM Anywhere and Charitable Remainder Trusts

February 15-16, Online (4 hours over 2 days)
VIEW

Quick Tip: Program Overview and Statistics Report in GiftWrap and Bequest Manager

PG Calc’s GiftWrap is an invaluable tool for administering the requirements of a broad array of split-interest gift arrangements. In addition to serving as a database for the maintenance of donor and gift arrangements, the processing of payments and the creation of tax-reporting documents are probably the most widely-used features. But in addition to those core functions, GiftWrap provides those in the development and finance areas the ability to generate a wide range of reports. And while state reserve and FASB liability reports are important, the Program Overview and Statistics report is likely the most valuable of all the report choices. This report is also available in Bequest Manager, which is available as an optional module of GiftWrap or as a standalone product.

In a few clicks, the GiftWrap or Bequest Manager user can generate this amazing report – it is found in the Analysis module, which is available at a modest additional fee. This is a report that not only summarizes all person and gift information, but also reviews the information and provides analytical breakdowns of the data. A few examples are the computation of the average or median gift value – for any and all types of gifts – and the calculation of the average or median age of the donors at a number of distinct set points. Beyond those examples are more complex calibrations, such as the average times between dates of gifts and dates of maturities, and the distribution amounts as percentages of original gift amounts.

This is powerful information, and in the words of some clients, it’s the type of review and analysis that would otherwise take days or weeks to assemble. We urge GiftWrap and Bequest Manager clients to take a look at this functionality – even on a trial basis at no charge. We think you’ll agree that the Program Overview and Statistics report, simply by itself, more than justifies the use of either of these two programs.

To run the report:

  1. Click Analysis on the menu bar and select Program Overview and Statistics.
  2. In the report interface, select the Charity and Gift Type(s) you wish to include.
  3. You can further refine by entering a date range in the Gift/Int Date fields. “Int” is short for Intention Date for bequests.
  4. Choose your Display Option and click OK.

That is all there is to it! If the report is grayed out, that means you don’t have a license to the Advanced Analysis module. We are happy to enable it for a free trial or send a price quote – just contact support@pgcalc.com to request either.
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Two Tax Incentives Will Expire Shortly

It looks very likely that two temporary tax incentives for making charitable gifts will be allowed to expire at the end of December.

  1. The ability to deduct up to 100% of one’s adjusted gross income (AGI) for gifts of cash to public charities. This limit will return to 60% of AGI in 2022.

  2. The ability of non-itemizers to deduct up to $300 (single filers) or $600 (married filing jointly) for gifts of cash to public charities. This deduction is in addition to the standard deduction.

As of this writing, the Build Back Better Act being considered in Congress does not extend either of these provisions, which were introduced in 2020 and then extended through 2021.

Registration Open for 2022 PG Calc Webinars

We have opened registration for our monthly webinars in 2022. You can find a description of each session here. Click on a webinar you are interested in to learn more about it, register, or purchase a recording.

On the registration form for each webinar, you can also register for the entire 2022 series and save 25%!

Would you or any of your colleagues like to learn the basics of gift planning? Register for our Fundamentals of Planned Giving series presented by Craig Wruck. The first of Craig’s four weekly webinars will be on July 12.

We will be using Zoom Webinar to deliver our webinars in 2022, so the registration form will look different from the one you have seen in the past.

 
Calendar

2022 WEBINARS REGISTER NOW

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ACGA Rates Will Remain the Same

On November 3, the Board of the American Council on Gift Annuities voted to reconfirm its current schedule of suggested maximum annuity rates which have been in effect since July 1, 2020. In its latest InTouch eNewsletter, the ACGA noted that although interest rates have increased slightly in 2021, they have not increased enough to warrant an upward revision of the return assumption on which the rates are based. That return assumption is currently 3.75% (2.75% net of expenses).

PG Calc Is Here for You During the Holidays!

Each year, the holiday season occurs exactly when planned giving activity reaches its high point. While other professional areas tend to be winding down, gift planning professionals are stretched to the limit trying to close each and every gift possible before the end of the year. PG Calc understands that dynamic, and we want you to know we are here for you! Please rest assured that our Client Services group will be working and available during the last two weeks of December, save for Christmas Eve and New Year's Eve. Don't hesitate to call us if you need help with our software, or if you simply want to discuss a particular gift plan. We'll be with you right up to the end!

During the weeks of December 20 and December 27 we will available during our regular weekday support hours from 8:30 am – 6:30 pm ET, except for those two holidays.

Contact Client Services at 888-474-2252 or support@pgcalc.com.
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PG Calc Seeking Director of Client Services

After serving more than 25 years in different roles at PG Calc, Tina Yelle will be retiring next Spring, and it’s time to search for a new Director of Client Services. If you’re reading this newsletter, you know how important customer service is to PG Calc. We’ve been fortunate to have had such strong leadership in this area over the past 20 years from Tina and Dyke Tilt before her, and these are big shoes to fill. But fill them we must. If you are interested in applying for the position, please see the job description and other contact logistics. While some of PG Calc’s employees work entirely remotely, this position would be part of the hybrid workforce in Cambridge.

Boys & Girls Clubs of America Appreciates Integration Between PGM Anywhere and GiftWrap

“I have used PGM and GiftWrap for many years. My favorite feature is the integration of the two products, knowing that the data from PGM is being accurately transferred into GiftWrap. I appreciate the team at PG Calc for always being there to answer my questions.”

Denita Morin
Resource Development & Specialty Accountant
Boys & Girls Clubs of America

Learn more about Boys & Girls Clubs of America.

Learn more about PGM Anywhere and GiftWrap.
     
Sales: info@pgcalc.com 888-497-4970
Support: support@pgcalc.com 888-474-2252