Question: How Do I Document a Letter of Intent (LOI) in the CRM?
Question: I know how to record a pledge agreement in our CRM, but how do you document an LOI? How do you send reminders for the intended gift?
Answer:
A Letter of Intent (LOI) is considered a “Future Commitment” by the CASE Global Reporting Standards. Much like a bequest, an LOI documents your donor’s intention for future gifts.
You want to document an LOI and include it in your funds-raised total for development reporting, which is used to both track an individual fundraiser’s results and those for a capital campaign or specific year. You also want to document an LOI in your CRM so that you don’t solicit them for the annual fund for the next four years if they’ve already committed to an annual fund gift over the next five years. Your CRM should capture the entire range of a donor’s gifts and intents.
Your advancement services team are the experts on how to properly record a future commitment in the CRM. Most organizations set it up along the lines of a bequest.
For sending gift intention reminders, Givzey is the perfect solution. It matches the LOI gift intents entered and automatically sends a reminder to the donor.
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