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When giving is easier and more impactful for nonprofit organizations, there’s a positive ripple effect that benefits the nonprofit community and the entire philanthropic ecosystem, including donors, private foundations and their various advisors and financial institutions. That’s something that our experts at PG Calc know all too well—and they have the receipts to back it up. In this next installment of our Planned Giving Series, we’re sharing another real-world story from one of our nonprofit clients about how they benefit by outsourcing some or all of their gift administration—a key component of planned giving, which in turn benefits donors by ensuring their planned gifts are managed efficiently and accurately.


Why Gift Administration?
There are many challenges to administering a planned giving program and it can quickly become an all-consuming task. Our PG Calc experts ease that burden. One of the gift administration services we provide is endowment sub-accounting, which is critical for nonprofit organizations that want to combine gifts in their endowments. For financial advisors, sub-accounting enables commingling of different funds for investment purposes with an endowment being just one example.

A Refresher On Multilevel Sub-Accounting
ICYMI our last blog on this topic, multilevel sub-accounting is essential for organizations that want to combine gifts in their endowments for investment purposes but still maintain detailed records of individual gifts or funds for accounting and donor reporting purposes. It all boils down to two things: financial accuracy and reporting integrity.

But remember we said there’s a positive ripple effect that extends beyond the nonprofit community? It also builds donor trust and demonstrates a nonprofit’s or charity’s fiduciary responsibility and transparency in how it faithfully stewards each donor’s gift. Sub-accounting generates donor reports that detail the impact each donor’s charitable giving has in helping an organization achieve its mission.

To help bring this to life, here’s how one of our nonprofit clients was able to go from inaccurate historical accounting to excelling in fulfilling its fiscal responsibility to donors.

Challenge #2:

Inconsistent and missing historical accounting left Fort Wayne Philharmonic in the dark about its endowment, made it unclear which funds were restricted and was impeding donor stewardship.
The Fort Wayne Philharmonic recently uncovered a significant challenge: several restricted donations to its endowment had not been accurately accounted for, some dating back many years. Lacking the in-house capability to effectively track these funds, the Philharmonic turned to a recommendation from one of its board members and enlisted the expertise of PG Calc.

Working with PG Calc
“PG Calc meticulously helped the Philharmonic analyze its historical financial information, enabling us to ‘rebuild’ the endowment from the date of the oldest restricted gift,” said Brittany Hall, the president and CEO of Fort Wayne Philharmonic.

“This comprehensive reconstruction has empowered the Philharmonic to precisely calculate the spending for all 17 of its endowment funds, both restricted and unrestricted, and seamlessly incorporate new gifts to the endowment. “Thanks to PG Calc, the Fort Wayne Philharmonic now excels in fulfilling its fiscal responsibility to donors. The organization can provide accurate fund statements, ensuring transparency and trust. This transformation has been achieved and showcases the Philharmonic’s dedication to exceptional financial stewardship. With these enhancements, the Fort Wayne Philharmonic is better equipped than ever to honor the generosity of its supporters, ensuring that every gift contributes to the enduring success of the Orchestra,” said Brittany.

PG Calc is proud to support The Fort Wayne Philharmonic, and we thank them for sharing their story with us.

For any organization that has an endowment, accurate and timely multilevel sub-accounting is key to their success. But it starts with having the right partner—and the nonprofit community deserves to have confidence in their sub-accounting, which enables the pooling of endowment funds for best returns. Remember that the ripple effect of these benefits goes well beyond accurate and timely reporting on each sub-account. Reliable reporting demonstrates fiscal responsibility and is the foundation of exceptional donor stewardship.

See how PG Calc can help with endowment sub-accounting.

Want to learn more about planned giving?
Check out the PG Calc Blog.

Want to learn more about the ways we support philanthropists and their advisors with private foundations?
Schedule a call with us or reach us at 800-839-0054. Together, let’s #begiving.

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