When it comes to administering planned gifts, many charities seek outside help. Why? Because a well administered planned giving program means happy donors. The Gift Administration team here at PG Calc provides our customers with the highest quality service and the peace of mind that comes with knowing their donors' needs will be met.
OK, so they’re not exactly “dirty” little secrets. But who among us hasn’t had a moment administering a particularly complex gift and thought – what have I gotten myself into? PG Calc has been providing gift administration services since 2001, and we know that the work we do behind the scenes is critical to the ongoing success of our clients’ planned giving programs. We also know that there are plenty of unexpected headaches that can accompany administering a planned gift.
On October 2nd, 2013, the Chronicle of Philanthropy reported The New York City Opera was entering Chapter 11 bankruptcy protection and would “wind down” its operations after 70 years. The news prompted anxious calls from charities and gift annuitants to us here at PG Calc. They all had the same concern: what happens to gift annuitants when a charity goes into bankruptcy? The good news is that such circumstances have been incredibly rare. Based on the few occasions where it has occurred, it seems likely that those with annuities issued by the bankrupt organization will be protected. Here are two key factors to understand in addressing questions that may come from your boss or your annuitants and other constituents.
