Hi all. We have a constituent who has generously donated a lump sum to be used for our youth orchestra chair programme for one particular musician. He has given us enough for two years and would like it to span across the two years and be acknowledged for half each year. Is there a way to process this in one go in Tessitura, or is the best way to simply put it into his on-account fund and set a reminder against his record to put through the next donation in a year's time? Thank you for your help!
I don’t mean to be a wet blanket, but I’m not sure this is legal under the tax laws. If he is giving you the cash this year and it is meant to be spent over two years, that’s fine – but the donation acknowledgement has to show the date you received the money, not the date you spent it. If this is a pledge and he is paying it in two payments, one each year, then you can send a separate letter each year. But the key is when the cash is received.
You might want to check with your finance folks to make sure they are comfortable with your approach.
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From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Michelle Gallagher Sent: Thursday, May 28, 2015 4:59 PM To: Julie Hamre Subject: [Tessitura Development Forum] Splitting contribution over 2 years
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Hi Michelle,
We have had a number of gifts of this type and the way we dealt with it was to set up a separate fund marked 'prepaid' within each campaign; so half went to the current year's fund and half went to the prepaid fund.
As regards processing and acknowledgements, we would usually process in a lump sum so that the tax receipt reflected his entire gift, then go back and adjust the transactions to be split between the funds.
Let me know if you have any questions.
Claire