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Fair Market Value

Chandra Asken
$organization

I've already posted this in the FInance forum, but would like to post the question here as well:

Have any of you chosen to use funds associated with fair market value in gift entry?  In other words, have you or your finance department set up a fund to record the fair market value of a gift?  For example, a patron give $100,000.  $900 is fmv.  The gift is entered in 2 parts. Part one is the gift, part 2 the fmv.

Thanks

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  • $organization

    Concern is well placed it would make things more difficult.  I’m not certain what your controller looking for in doing this. 

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Chandra Asken
    Sent: Friday, September 05, 2014 12:48 PM
    To: McKinley, Leslie
    Subject: RE: [Tessitura Development Forum] Fair Market Value

     

    Our Finance department feels it's necessary to track the fmv (non-deductible portion) of a gift in a separate GL/fund.  I'm seriously concerned about how this will affect our reporting and acknowledgement system.  I'd like to know if ANY other organizations are doing this.  It comes out of a concern from our controller. 

    From: Leslie McKinley <bounce-lesliemckinley4448@tessituranetwork.com>
    Sent: 9/5/2014 5:57:08 AM

    What does the Fair Market Value represent?   Are taking out the non-deductible of any premium?   This could a be nightmare for being able send pledge reminders

     

    Are you then tracking the funds to different GLs?

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Chandra Asken
    Sent: Thursday, September 04, 2014 7:55 PM
    To: McKinley, Leslie
    Subject: [Tessitura Development Forum] Fair Market Value

     

    I've already posted this in the FInance forum, but would like to post the question here as well:

    Have any of you chosen to use funds associated with fair market value in gift entry?  In other words, have you or your finance department set up a fund to record the fair market value of a gift?  For example, a patron give $100,000.  $900 is fmv.  The gift is entered in 2 parts. Part one is the gift, part 2 the fmv.

    Thanks




    This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!




    This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!

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  • $organization

    Concern is well placed it would make things more difficult.  I’m not certain what your controller looking for in doing this. 

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Chandra Asken
    Sent: Friday, September 05, 2014 12:48 PM
    To: McKinley, Leslie
    Subject: RE: [Tessitura Development Forum] Fair Market Value

     

    Our Finance department feels it's necessary to track the fmv (non-deductible portion) of a gift in a separate GL/fund.  I'm seriously concerned about how this will affect our reporting and acknowledgement system.  I'd like to know if ANY other organizations are doing this.  It comes out of a concern from our controller. 

    From: Leslie McKinley <bounce-lesliemckinley4448@tessituranetwork.com>
    Sent: 9/5/2014 5:57:08 AM

    What does the Fair Market Value represent?   Are taking out the non-deductible of any premium?   This could a be nightmare for being able send pledge reminders

     

    Are you then tracking the funds to different GLs?

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Chandra Asken
    Sent: Thursday, September 04, 2014 7:55 PM
    To: McKinley, Leslie
    Subject: [Tessitura Development Forum] Fair Market Value

     

    I've already posted this in the FInance forum, but would like to post the question here as well:

    Have any of you chosen to use funds associated with fair market value in gift entry?  In other words, have you or your finance department set up a fund to record the fair market value of a gift?  For example, a patron give $100,000.  $900 is fmv.  The gift is entered in 2 parts. Part one is the gift, part 2 the fmv.

    Thanks




    This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!




    This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!

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