Converting a Planned Gift into a Revenue Commitment

David Webb

When a Planned Gift is about to be Realized, the first step is to convert that Planned Gift to a Commitment via the “Add as Revenue” function on the Task Bar of the Planned Gift record. How does the workflow of this process work in your shops: does your Planned gift or Legacy team do this to create a Planned Gift transaction on the Constituent for your financial Team to process a Payment against, or do you just pass the whole thing over to your finance team to have them go into the Prospect Tab, find the Planned Gift and they do the “Add as Revenue” step, then go process the payment on the Constituent record (or via Batch Processing), whichever?

Is it more efficient to just have those familiar with Planned Gift and the Prospect Functional Area go and do the Revenue conversion, or let the financial team just do all the “Money” stuff?

Aaron Thompson

@David Webb I am sure you could find organizations that have the Finance team enter them, but most of the organizations I have worked with have the Estate Planning / Planned Giving team create the revenue record. Typically donor and executor communications are going to go to their shop, so they have the first intel that the revenue is coming, and accordingly create the receivable.

As always, what works for one company might not make sense for another. So consider how the process would work best for you.