Below is an outline of our Charitable Gift Annuity Administration:
Administrative Procedure Review for Best Practices
> Meet with development staff to establish goals, objectives and administrative strategies.
> Track state annuity requirements and assist client in ensuring that new and existing contracts are compliant.
> Assist in the development of state specific annuity contracts and other relevant documentation, including appropriate administrative forms.
> Provide assistance with state registration and filing requirements.
> Support your staff by responding to tax and legal inquiries.
> Advise marketing material development to target educated donors.
> Respond to donor inquiries if requested and provide illustrative calculations for possible gift scenarios.
Comprehensive Regulation and Tax Services
> Establish CGA administrative pools for efficient monitoring and payment management.
> Maintain complete, accurate and confidential records for donors and other annuitants.
> Complete all CGA administration reports.
– FASB 116 and 117
– Liability Reporting
– Calculation of reserve requirement
– Gifting and administrative summaries of CGA contracts and annuity payments.
> Create IRS Form 1099R for each annuitant
– Prepare an administrative summary of all forms issued.
> Detail ratable share accounting for gift annuity investment pool
> Provide periodic reserve and trust accounting reports.
Technical Advisement and Consultation
> Provide advisory services on planned gifts including:
– Calculations
– Illustrations
– Consultation based on donor-specific information
> Evaluate existing procedures and develop appropriate gift acceptance policies
> Identify state registration and reporting requirements for CGA’s.
> Present samples of CGA agreements
> Serve as external consulting support to the development staff
Customized Services
> Annuity payments delivered by check or ACH
> Checks delivered two days in advance of contract date
> Checks can be customized
> Bulk delivery of checks or individual mailings using nonprofit’s stationary
For questions or to discuss the next steps to develop your nonprofit, contact Brad Kadelski at: brad@brookfieldpartners.com