Hello! We are frantically working to finalize our year end giving and have run into a situation that I can't seem to solve easily. I'm hoping someone has some advice on the following scenario:
A former board member has an outstanding pledge to our endowment fund. To pay off his pledge, he as allocated funds in a Donor Advised Fund managed through Fidelity. We keep all of our DAF gifts credited to the administrator, in this case Fidelity, but will usually soft credit a record for the DAF for showing cumulative giving.
That's somewhat straightforward, except that I also need to soft credit the board member in order to pay off the pledge. I can't seem to credit more than one entity. We tried giving the board member the membership and soft crediting the DAF, but my data entry person is saying it's not able to save down when she tries to do this.
Any thoughts?
Brandi,
I wonder if the issue is that there's an existing pledge which is keeping you from being able to add another soft credit. As far as I'm aware, once a pledge is entered into the system, you can't add additional creditee information; this is what makes it such a pain in our own practices here when somebody pledges on their personal account and then the payment comes from a DAF or family foundation.
If you know at the time of the pledge to credit everyone, I'm pretty sure that you can give a credit to everyone you need to then; if it isn't until later on, though, I think you're stuck unless you back everything out and re-enter the pledge with the newly-added creditees.
Hopefully I'm wrong on this, though, and somebody can come along to lend a hand.
Thank you,
Brian