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Important Update On FEC Changes In Blackbaud CRM

As of 08/07/2020 Blackbaud will no longer offer FEC data as part of WealthPoint screening in compliance with guidance from federal regulators. And in our upcoming Service Pack 25 release we are updating wealth and giving capacity to not include FEC data.  The Service Pack 25 release is scheduled for August 2020

Reason for change:
Per guidance released by the Federal Elections Committee (‘FEC”),​ Blackbaud will no longer use FEC data as part of our solution to calculate a prospect's estimated wealth and giving capacity. This change will go into effect on ​Aug 07, 2020 and will not affect previously reported data. More information about the Act can be found by clicking here.
 
Details of the change:
 
Per FEC guidance, Blackbaud will update the capacity formula in BBCRM to not include FEC data. The FEC data source will not be an available option to be included in the formula. These changes will be available in Service Pack 25. In addition, we are adding a tooltip message which will inform the users of this change.
 
What actions do I need to take?
 
As a part of the post SP25 upgrade, please choose to recalculate the wealth capacities with the updated formula.
 
In the interim if you are on SP24 or older, and you would like to comply with the FEC guideline, you can manually update the Capacity formula to exclude the FEC Giving data source as shown in the screenshot below and then choose to recalculate the wealth capacities with the updated formula.
 
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Posted by Poornima Rao on Jul 29, 2020 3:07 PM America/New_York