Installment Gifts

Hi Eric,

The Membership Auto Renewal utility does exactly this.  If someone wanted to give $10 each month, you would create a $120 pledge set up with an “auto renewing” billing type.   When the membership enters its renewal period, the utility will create a new pledge with an identical schedule for the next membership cycle.  This will go on until the customer tells you to stop and then you would adjust the pledge and the charges would stop.  You can refer to the utility documentation for more information.

Lisa

For anyone who accepts indefinate installment gifts (e.g. "Give us $10 each month on your credit until you tell us to cancell your pledge"), I'm curious if and how you book this as a pledge?  How much revenue do you book for the finance office?

Conceivable the donor could give for two months, and then tell us to stop.  Or they could go for ten years.  So what do you book the pledge for?  $20?  $1,200?  Or maybe you recognize each installment as a new gift? 

I see these types of gifts becoming very popular.  Has anyone gone down this path already? 

Thansk in advance for your ideas!

-Eric Evenskaas

Steppenwolf Theatre

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Hi Eric,

The Membership Auto Renewal utility does exactly this.  If someone wanted to give $10 each month, you would create a $120 pledge set up with an “auto renewing” billing type.   When the membership enters its renewal period, the utility will create a new pledge with an identical schedule for the next membership cycle.  This will go on until the customer tells you to stop and then you would adjust the pledge and the charges would stop.  You can refer to the utility documentation for more information.

Lisa

For anyone who accepts indefinate installment gifts (e.g. "Give us $10 each month on your credit until you tell us to cancell your pledge"), I'm curious if and how you book this as a pledge?  How much revenue do you book for the finance office?

Conceivable the donor could give for two months, and then tell us to stop.  Or they could go for ten years.  So what do you book the pledge for?  $20?  $1,200?  Or maybe you recognize each installment as a new gift? 

I see these types of gifts becoming very popular.  Has anyone gone down this path already? 

Thansk in advance for your ideas!

-Eric Evenskaas

Steppenwolf Theatre

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!