When the North American Division (NAD) Planned Giving & Trust Services (PGTS) Standing Committee voted on April 28, 2021, to approve a revised set of 50 PGTS Standards for Accreditation, they also approved an implementation process for complying with the new Standards. The Standing Committee stressed the importance of adopting the new Standards as soon as possible. Still, it recognized the need to give organizations time to implement the Standards before they are held accountable through the PGTS Accreditation and Trust Review process. With that in mind, the Standards are now approved and will become effective January 1, 2023.
Recommended Steps
It is recommended that every organization take the following steps to ensure they will continue to meet the requirements for PGTS Accreditation.
- Become familiar with the new Standards. The GC/NAD PGTS Department will attempt to help in this regard by publishing new articles, and revising old ones, over the next several months. Also, the department will hold webinars to discuss the new Standards.
- Determine what must be done for your organization to comply with the new Standards.
- Consult with outside legal counsel to determine if current legal opinions will need to be updated to meet the new standards.
- Create new documentation, such as legal opinions and gift acceptance policies, and obtain all necessary approvals from governing boards or committees.
With about 18 months before the new Standards become effective, organizations have time to accomplish all these tasks. However, everyone is encouraged to get started on this process right away as time will go by quickly.
Effective Date
The effective date of January 1, 2023, for the new Standards means the organizations will be held accountable for upholding the Standards on the first trust review that encompasses this date. When an organization is found to comply with the new Standards during that time period, they will have been deemed to comply for the entire time period. For example, if a conference has a trust review on June 1, 2025, that encompasses the three years 2022, 2023, and 2024 they would be held accountable for the new Standards. As long as they comply with all the Standards by the end of that time period, they will be considered to be in full compliance and receive Level A Accreditation. If any Standards are found to be unmet, they will have to correct those findings, and present supporting evidence of having done so to the Certification and Accreditation Committee before they will be awarded Level A Accreditation.
Impact on Trust Reviews
For example, if an organization were to have a trust review on June 1, 2023, that encompasses the three years 2020, 2021, and 2022 they would not be held accountable for the new Standards during that trust review. The reason being that trust review would not include anything that happened on January 1, 2023, or later, even though the trust review itself is taking place after the effective date. An organization fitting this description would be held accountable for the new Standards in their subsequent trust review that would encompass the date January 1, 2023.
Auditors Don’t Make PGTS Standards
The GCAS auditors are tasked with verifying that the Standards are met in each organization, but they did not develop the Standards themselves. All 50 PGTS Standards were carefully reviewed and scrutinized by a committee of representatives from across the North American Division. There were PGTS directors from conferences big and small, unions, higher education, ministries, health care, and Western Adventist Foundation. There were also committee members who were treasurers, attorneys, past directors from the GC/NAD PGTS department, and GCAS auditors. The committee members carefully reviewed the existing Standards, made modifications, added Standards, and even removed some requirements, all with the intention of improving the PGTS Standards that detail the minimum actions required to run a world-class PGTS program. By working toward implementing the Standards now, your organization will improve the services provided to your constituents.