Hi, hoping for some help/advice as I'm encountering this situation for the first time. We have a significant pledge from a donor that was made in 2007 to set up an endowment fund for our performing arts center. At that time, an initial payment was made to be used for operating purposes. The pledge was never entered in the system, but the payment was. We'd really like to set this up correctly and have the pledge entered and then make the payment on it. Is there a way for me to do this for a past campaign?
The next problem is that this week we are now receiving two payments on the pledge, with one establishing the endowment and the other to be used for our next fiscal year's operating budget. I believe I can restrict the payment for that time period, but am I able to designate it to a different campaign? (The original pledge would be made in an endowment campaign, but this one payment would, in essence, go to our Annual Fund campaign for next year).
Quickly wanted to post this, but I'd be happy to go into more detail if I need to. Thanks!
Anthony
Anthony, Ok I'll take a stab, I need something to get my brain moving.
First of all just because a donor pledges a specific amount of money, it doesn't mean you would necessarily want to enter that amount as a single pledge in Tessitura.
If I understand you correctly, in your case you have a donor who has pledged a sum that is to be split between endowment and operating. It that situation, it would be advisable to set up two separate pledges in Tessitura. One for Endowment the other General Operating.
The first payment you received in 2007 you say was for operating purposes so I'm assuming you entered it as a General Operating gift, not an Endowment one? If that was the case I would probably just leave it as it was probably utilized in the year it was received.
For the two payments coming up, you could pledge them but again they would have to be two separate pledges to two separate campaigns.
If I were you I would probably enter them as two separate pledges (as long as you have something in writing from the donor) - one to Endowment and one to next year's General Operating (whatever campaign that is for you), then make payments when the money comes in.
DOD's hate seeing the multiple gifts when they think of it as one pledge - that's how they want to see it in Tessitura but it can't be that way if you want to correctly handle things for finance.
Let me know if I'm close to understanding your situation and if you need any clarification.Dale
Meredith Meads Development Coordinator, Major GiftsThe National Ballet of Canada The Walter Carsen Centre 470 Queens Quay West Toronto, ON M5V 3K4 Tel: 416 345 9686 x337 Fax: 416 345 8323 Email: mmeads@national.ballet.ca Web: www.national.ballet.ca