best practices in gift administration deb cunningham vp of administration, cao uconn foundation july...
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Best Practices in
Gift Administration
Deb CunninghamVP of Administration, CAO
UConn FoundationJuly 24, 2015
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AgendaDo the initials “PCI” make you shudder?
Does your institution’s approach to using (or not using) a Lockbox make sense?
Evolution of Third Party Giving
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PCI Compliance
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Payment Card Industry Standards
PCI began as five different programs (credit card based – AMEX, VISA, etc.)2004: 5 programs aligned – Payment Card Industry Standards Council (PCI SSC)
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PCI DSS• Data Security Standards
PCI P2PE• Point to Point Encryption• Third party vendors (Cybersource, Paypal)
PCI PTS• Pin Transaction Security• Applies to equipment for processing cards
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Payment Card PCI DSS 12
FirewallDO NOT use vendor supplied passwordsProtect Stored Data Encrypt Data TransmissionUPDATE anti-virus software
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Isolate Card Processing
Who processes cards in your organization?Can they surf on the same machine?Is any data stored locally?Is data encrypted when processing?Any manual transmission of data? DESTROY UPON COMPLETION!
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Solid Policies and Procedures
Documented breach response proceduresStandard confidentiality agreement for vendors, system users, volunteersDocument PCI compliance for third party vendorsVendor data security questionnaireMANDATORY TRAINING
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Lockbox Management
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Lockboxes – good, bad and ugly?
Transaction VolumeTimely processing - VIP – same day?Sufficient staff in-house?Cost – benefit analysis?What system do you currently use for scanning? Data retention? In-house imaging and related technology options?
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Cost Benefit AnalysisStaffing CostsStorage CostsTechnology (hardware and software)SecurityDo you carry a large operating account with a bank (potential for deep discounts)Is there a lockbox facility in your state?
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So….analysis says “Lockbox!”
How many do we need – sorting is key!Wholesale, Retail, Wholetail!!OCR capabilities? At what cost? Quality?Redaction?Accessibility to files and at what cost?In State vs. out-of-state?Due Diligence…..Impact on current staff
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about that ugly….Credit card processing“unbankables” – its all about terminology“Return to Sender” – mail forwarding not so simpleStaying on top of it all
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Third Party Gifts
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Third Party Giving – our Future
Since 1991, Fidelity Charitable has helped donors support over 190,000 nonprofit organizations with more than $20 billion in grants.
Vanguard, 17 years, total charitable impact, $5,321,800,682
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Tracking Third Party Giving
Donor Advised FundCrowdfundingText-to-GiveMatching Gifts Community FundFamily FoundationsThe “Buddy” system
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To be considered…..Donor recognition ReportingPledges and PaymentsReceipting and acknowledgement processes
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Recording DAF Pledge Payments
What do you do when donor makes standard pledge and pays with DAF funds?What happens to the pledge?What happens to current year reporting – cash vs. pledge payment
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A whole new game…..You receive a check for $760Matching Gifts from 3 Donors:May just provide names –Possible amounts – minus fee (or not minus fee)Fees applied to line items not specified
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Questions? Discussion?