This position is a critical role in the College’s three-person Office of Gift Planning. The incumbent provides critical support for soliciting, processing, acknowledging, and documenting various types of gift arrangements in one of the nation’s busiest and most productive gift planning programs. Wellesley’s Office of Gift Planning is responsible for gifts and commitments averaging over $8,000,000 per year. The Office administers a life income gift portfolio of over $61,000,000. The suite of Gift Planning products represents over one-third of the gifts and commitments of the College’s recent very successful and record-breaking Wellesley Effect Campaign. The College’s donors expect accurate and timely proposals, gift documentation and acknowledgments. The Assistant Director of Gift Planning’s work covers every aspect of the gift process and is a key contributor to the excellent service which leads to repeat donors, a hallmark of Wellesley’s Gift Planning program.
The preparation of accurate and timely proposals is an essential first step in the gift process. Readying each gift for investment and administration requires a solid understanding of financial information and attention to detail; the Assistant Director of Gift Planning guides each transaction though our processes which include several internal offices at the College as well as outside financial institutions that manage and administer the program’s gift portfolio.
Our Assistant Director of Gift Planning also assumes responsibility for processing bequest intentions and realized bequests for the College. The ability to review legal documents is necessary as the Assistant Director will be dealing with executors, financial services professionals and legal representatives in the course of this work.
Life Income Gift Processing: This is a primary function of the position. The Assistant Director is responsible for processing hundreds of gift annuities, charitable remainder trusts and pooled income funds life income gifts, annually.
This is a multi-step process for each gift beginning with the proposal, followed by the asset transfer, including cash and stock. The Assistant Director is responsible for: 1) Preparing life income gift proposals 2) Securing all data needed to complete the gift arrangement and appropriately recording (cost basis of stock, acquisition date, tax forms from donor, signed agreements, and unitizing gift values where appropriate). 3) Using software to compute the tax consequences of the gift (both charitable income tax deduction and taxation of income) 4) Preparing gift agreements and contracts 5) Preparing the Gift Notice with the details of the gift and its income for both Wellesley’s Development Services Office, Controller’s Office and State Street Global Advisors, in addition to inputting similar information on various GP Office databases and records 6) Preparing an acknowledgment letter to each donor (a technical letter that explains accounting and tax details). 7) Coding and updating donor records
Bequest Processing: This Assistant Director communicates with estate representatives to ensure that documentation is received and that the College receives timely and accurate distributions. The Assistant Director also ensures that appropriate family members receive condolence notes from the College Processing of Bequest Intentions, Gifts in Kind and IRA Rollover Gifts: This is a primary function of the position. The Assistant Director is responsible for processing bequest intentions, gifts in kind and IRA rollover gifts. Each requires a Gift Notice and many of the components listed under the Life Income Gift responsibilities. Liaison with External Life Income Gift Investment Managers/Administrators: The Assistant Director is responsible for keeping abreast of the flow of information between the GP Office and the College’s two outside life income gift investment managers/administrators (State Street Global Advisors and Mellon Bank). This includes operational details that are pertinent to Wellesley’s life income gift portfolio of almost 900 participants, five pooled income funds, and over 78 charitable remainder trusts for which Wellesley serves as trustee. Wellesley’s GP program has approximately 1,300 life income beneficiaries in the US, Europe and Asia, all of whom require timely payments from the College on a quarterly basis; the Assistant Director ensures that all beneficiary records are updated (often on a daily basis) when there are deaths, changes of address, and changes in bank accounts for direct deposits. Liaison with Internal Partners in Life Income Gifts, Bequests and Gifts in Kind: In recent years, the market value of new gifts through the College’s GP portfolio has been over $8 million per year. The Assistant Director is the central source of information about all of these gifts. That information, in turn, feeds many accounting and investment systems at Wellesley. These offices include Development Services, The Wellesley Fund, the Davis Museum, the Clapp Library, Principal/Leadership Gifts, Stewardship, the Controller’s Office, the Office of the Vice President for Finance/ Treasurer, and the College’s Investment Office. Gift Planning Operations: The Assistant Director prepares gift reports and statistics for both College staff and alumnae volunteers who serve as ambassadors for Wellesley’s Gift Planning program. The Assistant Director provides general Planned Giving information in response to requests from alumnae and staff. The Assistant Director may also assist the Gift Planning Office in guiding assignments to our student worker(s) and the organization of special events, marketing, mailings, meetings, and the maintenance of office records and files. Ability to work collaboratively in a team-oriented environment. Superb written and oral communication skills.
Attention to detail. Ability to work collaboratively in a team-oriented environment. Superb written and oral communication skills.
A bachelor’s degree and planned giving experience are desired and/or extensive work experience in accounting, financial or legal environments. Outstanding facility with numbers and commitment to precision and accuracy. Exceptional organizational skills. Experience with computers and mastery of office software (Excel, Microsoft Word, PG Calc, etc.)
Wellesley is known for the excellence of its education, the beauty of its setting, its gifted faculty, and the uniqueness of its campus culture. But most of all, Wellesley is known for the thousands of accomplished, thoughtful women it has sent out into the world for over 100 years women who are committed to making a difference. Every year, some 2,400 of the world's top undergraduate women are challenged to exceed their own highest personal and intellectual expectations. The mastery Wellesley graduates demonstrate across the professional and vocational spectrum, and the influence they wield, whether in their own communities or on the world stage is testament to a singularly empowering undergraduate experience. Wellesley's lively academic community places a high value on rigorous, probing inquiry, and creative, cross-discipline thinking. Its collaborative approach to scholarship encourages students to question, debate, and refine their points of view, not only with each other, but with our world-class faculty, often by working directly with them on groundbreaking projects. A Wellesley education fosters the highest standard of readiness for the real world in its graduates, in terms... of ability to think, act, and contribute meaningfully and effectively in their chosen areas of interest.