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eRate Newsletter | June 16, 2020

IRS DISCOUNT RATE: July 0.6%

Life Income Gift Administration – Protecting Donors from Fraud

It seems that every day there is another article about stolen information from credit card providers or fraudulent activity with funds being diverted from the rightful recipient. Elderly individuals are frequently targeted for these scams. Charities with life income gift programs need to be vigilant to protect their donors from such nefarious activities. Whether your organization handles gift administration in-house or contracts with an outside administrator, there should be policies in place to assist in preventing fraudulent activities. Consider addressing these issues with your gift administrator.

In this month's featured article, Mike Valoris, Senior Consultant, and Nancy Cioto, Director of Gift Administration, present best practices to ensure security of sensitive life income gift information.

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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.

Effective Gift Planning Strategies in Turbulent Times

Presented by
Jeff Lydenberg

Thursday,
June 25
1:00 - 2:30 pm ET

REGISTER

UPCOMING TRAINING

PGM Anywhere and Gift Annuities

June 17-18, ONLINE

July 14-15, ONLINE

August 18-19, ONLINE

PGM Anywhere and Charitable Remainder Trusts

August 12-13, ONLINE

Lead Trust School

July 28-29, ONLINE
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Quick Tip: Batch Stop Payment Applied to Payment Snapshot in GiftWrap

This new GiftWrap feature enables a Stop Payment to be issued against a group of payment snapshots, where previously Stop Payment status could be applied only to one payment snapshot at a time.

You may access this feature by selecting Payment Snapshots/Void from the GiftWrap Payments menu. On the Payment Snapshots screen, enter a date range for the payments in question, and be sure to select Not Cleared from the Include/Exclude section of the screen, as the Stop Payment applies only to payments not yet cleared.

Once you have confirmed the payments selected, click the Stop Payment Snapshot Batch button at the bottom of the screen. At this point, you will see a pop-up window summarizing the Stop Payment and giving you the option to not stop payment, stop payment, or stop payment with an offset. When you click the OK button, the stop payments will take effect.

Note that stopping a payment in a Payment Snapshot does not affect the information stored in the individual payment schedule entries in the Person Information screen.

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

pgcBlog

Recent PG Calc Blog Post

New ACGA Rates 0.4% - 0.5% Lower than Current ACGA Rates

On June 11, the American Council on Gift Annuities (ACGA) announced new suggested maximum gift annuity rates that will go into effect on July 1, 2020. The new rates are generally 0.4% - 0.5% lower than the current rates at typical annuitant ages. A detailed analysis of the new rates is available on our blog.

READ MORE

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Marketing During the Pandemic

Customization – that’s what we’re seeing here helping our Marketing Services clients. Most clients are continuing to market without missing a beat, ensuring their messages are in front of their donors. More than ever, we and our clients are spending extra time making their appeals more tailored to their institutions. In times like these your donors want to hear from you – and they want to hear something personal.

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New Features in Recently Released GiftWrap Update

GiftWrap 4.3.0 contains a variety of enhancements that further increase the value and utility of PG Calc’s suite of gift administration software. This release focuses on expanded capabilities in the areas of flexible DGA management, reserve calculations, payments, and overall usability.

New features include the following:

  • a Flexible DGA Assistant facilitating the management and election of flexible DGA payments
  • a Flexible DGA Reset feature that sets the first payment date and payout percentage to the nearest future date for flexible DGAs where a payment date has not yet been elected
  • the ability to store reserve rates and apply those rates quarterly where required by state statute
  • the ability to apply a stop payment on a batch of payments via the Payment Snapshots screen
  • a new Distribution Date field for non-bequest gifts for recording the date the remainder was distributed to the organization

These enhancements and others are further detailed in the GiftWrap 4.3.0 Release Notes. Current GiftWrap clients are advised to review these release notes before using updated GiftWrap software.

Go the the PG Calc website to learn more about GiftWrap.

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PGM and PGM Anywhere Updated with New ACGA Rates

On June 12, we sent an email to all Planned Giving Manager and PGM Anywhere users announcing new releases of these applications that incorporate the American Council on Gift Annuities (ACGA) suggested maximum gift annuity rates that go into effect on July 1, 2020. Since PGM Anywhere is web-based, we were able to apply the update on behalf of all clients. Clients must install PGM 7.5D to make use of the new ACGA rates in Planned Giving Manager. If you use either of these products, please see your release email for update instructions and your options for using the new ACGA rates. If you cannot locate your release email or have questions, please contact PG Calc Client Services at support@pgcalc.com or call 888-474-2252.

 
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Pete Congleton and Hartford Hospital Benefit from Long Relationship with PG Calc

Hartford Hospital, founded in 1854, one of the largest teaching hospitals and tertiary care centers in New England, has been training physicians for over 160 years. The Hospital is a member of Hartford HealthCare, a large, diversified health care system, and is an 867-bed regional referral center that provides high-quality care in all clinical disciplines.

Pete Congleton, Director of Planned Giving at Hartford Hospital, recounts his history with PG Calc and his experience as a long-term PG Calc client:

"When I first started out in planned giving in 1994, one of my mentors at that time was Charlie Collier, who was then the senior philanthropic advisor at Harvard. Charlie strongly advised me to purchase and familiarize myself with PG Calc’s Planned Giving Manager program as one of the best ways to learn more about the nuts and bolts of planned giving."
“For the past 26 years, PG Calc has continued to represent for me the gold standard for planned giving calculation software—staying up to date on the latest legislative changes and adapting their offerings nimbly in sync with the ever-changing nuances of the field. My relationship with the PG Calc support team has been helpful to me throughout my career, as I evolved from rookie to seasoned veteran, and always has something to teach me about creative ways to employ their various products for useful purposes."
“No matter what stage you are in your career, PG Calc will serve as an invaluable resource to you, your donors, and the charitable missions you serve. I give them my highest recommendation."

Learn more about the Hartford Hospital.

Learn more about PG Calc's PGM Anywhere.
       
Sales: info@pgcalc.com 888-497-4970
Support: support@pgcalc.com 888-474-2252