I need to enter a multi-year pledge ($5,000/yr. for 4 years). I'd like to enter one pledge of $20,000 with four payments of $5,000. The trick is that since we have different appeals and campaigns for each fiscal year, each of the four payments will be going to a different appeal and campaign and Contribution Entry only allows me to select one of each. Is there any way around this or do I need to enter 4 separate pledges of $5,000 to each different appeal and campaign?
Margaret,
How you enter the pledge depends on how you are counting your money. If you are counting the entire $20,000 as income in the current year you would enter one pledge for $20,000 to a current fiscal year campaign and pledge payments would be made on that in future years. You can use the same appeal/source you use for the gift for future year pledge payments, it just has to be kept active by puting a future end date on it.
If you are counting this as $5,000 of income for this year and $5,000 in the next three years - e.g $5,000 in FY10, $5,000 in FY11, $5,000 in FY12 and $5,000 in FY13 - you should enter this as 4 separate pledges one to each appropriate campaign in each fiscal year.
Dale
Thanks Dale. That makes sense. I just talked to our controller and we're counting this as $5,000 of income this year and $5,000 in the next three years so I'll enter 4 separate pledges as you suggest. I need to restrict the 3 future payments - is there any trick to that? I've never done it before.
I would suggest that you make sure the "Auto-Restrict Conts Before Start Date" box is checked when you set up your future FY campaigns. This should take care of things when you enter the gift but I also recommend you read the documentation available at tessituranetwork.com on restricting contributions so you know all the ins and outs.Dale
Hi Margaret!
The document that Dale mentions is Contribution Processing. Section 3.I (on page 36) describes how to manually add the time restriction to a gift on the Restricted Tab.
As Dale points out, if "Auto Restrict Conts Before Start Dt" is checked in the campaign setup these actions will be automatic. But, it would be a good idea to check to make sure the action takes place on the Restricted Tab as expected. You can also alter the restricted date if needed.
Nick
Thank you!!
If this gift is tied to your membership structure, that's another thing to consider before you book it. You can apply all 4 of the gifts to the same membership and recognize the total gift of $20,000 (extending the end date if appropriate) or you could allocate funds and create a pending membership tied to each future payment. We always have to pay attention to this when we book multi-year pledges because the default isn't necessarily correct.
Thanks so much everyone for your replies!!