Recording Bequests

When an organization receives communication that they have been included as a beneficiary in a donor’s will, it must determine if this represents an intention to give or an unconditional promise to give. This is imperative as it determines when the gift is recognized as a contribution. Don’t miss: Top ten things to know about …

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Top 12 Points to Avoid Endowment Confusion

Here are twelve points on how to avoid endowment confusion. These points are in no particular order. (1)  UPMIFA is a uniform law.  Each state has adopted their own version of this law (except for Pennsylvania).  See upmifa.org for more information. (2) If a permanent endowment goes underwater, the negative amount in unrestricted net assets is considered …

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