One major source of income for fundraisers is the Bequest, or Gift in Will. The cultivation of relationships and promises of gifts is an important role, and the Fundraising Accelerator provides functions to assist tracking these.
Before we go through specific processes, let’s have a quick look at a couple of different alternative ways in which bequests can be managed in Salesforce. Salesforce is flexible enough to provide a variety of different bequest process options. You should check with your trainer or system administrator to determine exactly how your organisation has chosen to manage bequests, but here are two popular methodologies for doing so:
Whenever a bequest prospect is identified an Account is established for the estate and a Bequest opportunity is created against this estate record. All stages of the bequest process, from identification and qualification through to final collection from the estate are managed through this single opportunity.
When a bequest prospect is identified a Bequest opportunity is created against that contact. This type of bequest opportunity progresses the supporter through the verification and confirmation stages of the bequest but is closed when the supporter is marked as deceased. At this point, the estate account record is created, and a new Bequest Distribution opportunity is created against the estate record to manage the securing of the bequest funds.
Both of these processes are equally valid however only one or the other is likely to be used by your organisation.
The following sections will provide you with enough information to handle either of these processes or a variation thereof.
Your Bequest team will be prospecting from within your donor base, so there is a field on the Contact called Bequest Status, with the drop-down values of the different stages of the bequest cultivation i.e. Prospect, Intend, Consider, Confirmed.
Next, create a new Estate Admin account for this Contact.
Select the Estate Admin field and click New Account.
Choose the record type of Estate Admin.
You can then fill in the details of this new account, including details about the Executor of the Will, be it a contact or an Account.
Once you have saved your Account, the link to the new Estate Admin account will show on your original Contact.
The final step is to create a New Opportunity. The type of opportunity in this case is called a Distribution.
This opportunity type has bequest specific fields, including Bequest Estate Type, and tick boxes for Shares and Property. You can now use this Opportunity (and others as required) to track the money from the Bequest.
Next progress through the Stages of the Opportunity as determined by your Business Process. As with your other Donation types when the money is received, you will update it to ‘Closed Won’.