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Deferred pledges

Former Member
Former Member $organization

I have posted this to the Finance Forum and received one response. I'm hoping can get broader input from the dev folks as well. We are setting up a system for tracking multi-year annual gifts. We would like to see the gift land in the fiscal year the funds are meant for rather than putting in the total amount of the gifts in one fiscal year and tracking as pledge payments.

We are thinking of creating all the campaigns through 2020 and entering a gift for each year.  It was recommended we enter the gift date in the future for additional tracking. This way the gifts could be tracked by either transaction date or by contribution date for reporting purposes.

Is there a mechanism in Tessitura that will automatically transfer a gift in a deferred fund to a current fund from the future year it is assigned to? (future to current) Our financial software is not Tessitura, we need something that tracks the gifts and that we can extract to our financial department clearly and easily for the auditors.  Please let us know how you track these types of (deferred) annual gifts and offer any advice, thank you! 

Example: Donor is pledging support at the $2000 level through 2020. 

Campaign: FY15 Individual,  Fund: Individual Fund, Appeal: FY15_2000 Donor, Source: FY15 5-year solicitation

Campaign: FY16 Individual,  Fund: Individual Fund, Appeal: FY16_2000 Donor, Source: FY15 5-year solicitation

Campaign: FY17 Individual,  Fund: Individual Fund, Appeal: FY17_2000 Donor, Source: FY15 5-year solicitation

Campaign: FY18 Individual,  Fund: Individual Fund, Appeal: FY18_2000 Donor, Source: FY15 5-year solicitation

Campaign: FY19 Individual,  Fund: Individual Fund, Appeal: FY19_2000 Donor, Source: FY15 5-year solicitation

Campaign: FY20 Individual,  Fund: Individual Fund, Appeal: FY20_2000 Donor, Source: FY15 5-year solicitation

Kristin Murphy

kmurphy@nashvilleopera.org

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  • Former Member
    Former Member $organization
    Tom is right - there is a special batch type to move future to current. When you open a new batch, use the drop down to find the Future to Current batch type. It does not run automatically but should be done at the beginning of each fiscal year.

    This is pretty tricky - as an accountant I'm supposed to understand this but I still have to be really careful. Be sure to read all the documentation before you attempt this.

    Also, you need to reset the default date in system tables each year so that when you set up a pledge schedule the dates will automatically be shown in the appropriate Current or Future year.


    ____________________________

    Julie P. Hamre
    Staff Accountant
    Strathmore
    5301 Tuckerman Lane
    North Bethesda, MD 20852-3385
    www.strathmore.org
    301-581-5136
    jhamre@strathmore.org
    In office Monday-Tuesday-Thursday




    Support what you love. Strathmore Stars enjoy
    10% off Strathmore performance tickets, advance
    ticket purchase, discounts in the Shops at
    Strathmore and in Tea Room, and access to special events.


    -----Original Message-----
    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Tom Brown
    Sent: Tuesday, May 26, 2015 9:26 PM
    To: Julie Hamre
    Subject: Re: [Tessitura Development Forum] Deferred pledges

    I'm an IT guy.

    We use campaigns well into the future as you describe. However, I think the contribution date is the actual contribution date. It is not moved into the future.

    There is a special batch type to move transactions current to future and future to current. However it has to be run. This is not automatic as far as I know.

    --Tom

    On Tue, May 26, 2015 at 6:51 PM, Kristin Murphy wrote:

    I have posted this to the Finance Forum and received one response. I'm hoping can get broader input from the dev folks as well. We are setting up a system for tracking multi-year annual gifts. We would like to see the gift land in the fiscal year the funds are meant for rather than putting in the total amount of the gifts in one fiscal year and tracking as pledge payments.

    We are thinking of creating all the campaigns through 2020 and entering a gift for each year. It was recommended we enter the gift date in the future for additional tracking. This way the gifts could be tracked by either transaction date or by contribution date for reporting purposes.

    Is there a mechanism in Tessitura that will automatically transfer a gift in a deferred fund to a current fund from the future year it is assigned to? (future to current) Our financial software is not Tessitura, we need something that tracks the gifts and that we can extract to our financial department clearly and easily for the auditors. Please let us know how you track these types of (deferred) annual gifts and offer any advice, thank you!

    Example: Donor is pledging support at the $2000 level through 2020.

    Campaign: FY15 Individual, Fund: Individual Fund, Appeal: FY15_2000 Donor, Source: FY15 5-year solicitation

    Campaign: FY16 Individual, Fund: Individual Fund, Appeal: FY16_2000 Donor, Source: FY15 5-year solicitation

    Campaign: FY17 Individual, Fund: Individual Fund, Appeal: FY17_2000 Donor, Source: FY15 5-year solicitation

    Campaign: FY18 Individual, Fund: Individual Fund, Appeal: FY18_2000 Donor, Source: FY15 5-year solicitation

    Campaign: FY19 Individual, Fund: Individual Fund, Appeal: FY19_2000 Donor, Source: FY15 5-year solicitation

    Campaign: FY20 Individual, Fund: Individual Fund, Appeal: FY20_2000 Donor, Source: FY15 5-year solicitation

    Kristin Murphy

    kmurphy@nashvilleopera.org



    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!
Reply
  • Former Member
    Former Member $organization
    Tom is right - there is a special batch type to move future to current. When you open a new batch, use the drop down to find the Future to Current batch type. It does not run automatically but should be done at the beginning of each fiscal year.

    This is pretty tricky - as an accountant I'm supposed to understand this but I still have to be really careful. Be sure to read all the documentation before you attempt this.

    Also, you need to reset the default date in system tables each year so that when you set up a pledge schedule the dates will automatically be shown in the appropriate Current or Future year.


    ____________________________

    Julie P. Hamre
    Staff Accountant
    Strathmore
    5301 Tuckerman Lane
    North Bethesda, MD 20852-3385
    www.strathmore.org
    301-581-5136
    jhamre@strathmore.org
    In office Monday-Tuesday-Thursday




    Support what you love. Strathmore Stars enjoy
    10% off Strathmore performance tickets, advance
    ticket purchase, discounts in the Shops at
    Strathmore and in Tea Room, and access to special events.


    -----Original Message-----
    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Tom Brown
    Sent: Tuesday, May 26, 2015 9:26 PM
    To: Julie Hamre
    Subject: Re: [Tessitura Development Forum] Deferred pledges

    I'm an IT guy.

    We use campaigns well into the future as you describe. However, I think the contribution date is the actual contribution date. It is not moved into the future.

    There is a special batch type to move transactions current to future and future to current. However it has to be run. This is not automatic as far as I know.

    --Tom

    On Tue, May 26, 2015 at 6:51 PM, Kristin Murphy wrote:

    I have posted this to the Finance Forum and received one response. I'm hoping can get broader input from the dev folks as well. We are setting up a system for tracking multi-year annual gifts. We would like to see the gift land in the fiscal year the funds are meant for rather than putting in the total amount of the gifts in one fiscal year and tracking as pledge payments.

    We are thinking of creating all the campaigns through 2020 and entering a gift for each year. It was recommended we enter the gift date in the future for additional tracking. This way the gifts could be tracked by either transaction date or by contribution date for reporting purposes.

    Is there a mechanism in Tessitura that will automatically transfer a gift in a deferred fund to a current fund from the future year it is assigned to? (future to current) Our financial software is not Tessitura, we need something that tracks the gifts and that we can extract to our financial department clearly and easily for the auditors. Please let us know how you track these types of (deferred) annual gifts and offer any advice, thank you!

    Example: Donor is pledging support at the $2000 level through 2020.

    Campaign: FY15 Individual, Fund: Individual Fund, Appeal: FY15_2000 Donor, Source: FY15 5-year solicitation

    Campaign: FY16 Individual, Fund: Individual Fund, Appeal: FY16_2000 Donor, Source: FY15 5-year solicitation

    Campaign: FY17 Individual, Fund: Individual Fund, Appeal: FY17_2000 Donor, Source: FY15 5-year solicitation

    Campaign: FY18 Individual, Fund: Individual Fund, Appeal: FY18_2000 Donor, Source: FY15 5-year solicitation

    Campaign: FY19 Individual, Fund: Individual Fund, Appeal: FY19_2000 Donor, Source: FY15 5-year solicitation

    Campaign: FY20 Individual, Fund: Individual Fund, Appeal: FY20_2000 Donor, Source: FY15 5-year solicitation

    Kristin Murphy

    kmurphy@nashvilleopera.org



    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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