Happy Monday!
We are in the earliest of stage of thinking about a Capital Campaign and I'm nearing the point where I need to start thinking about set-up in Tessitura. I was hoping for some feedback from you on best practices.
Right now, we are going back and forth as to whether to set up one large multi-year campaign (which is cleaner, but presents a problem when trying to pull information based on fiscal year) or setting up separate campaigns based on fiscal year (which clogs up accounts with many pledges/gifts, but is easier to manage when pulling information).
I see clear pros and cons to both and I just wanted to get your thoughts.
Thank you so much!
Heather
Hi Heather,
I would agree with T.C. that you should consult with your Finance team and how they want to track it. All organizations do things a little bit differently.
At the Kennedy Center, we set up separate campaigns based on fiscal year. The initial pledge was booked in the current fiscal year that we were in. If a donor wished to pay in installments over multiple years, they could definitely do that. Rather than booking a pledge for each fiscal year, we just created payment due dates for as long as it would take them to pay (majority of the larger gifts were over five years).
If the payment came from a Foundation on behalf of the donor for example, we will adjust out one payment of the pledge, book a new pledge in the Foundation record, credit the individual, choose the initial campaign that it was booked in, change the date, and then pay off the pledge.
Let me know if you have any further questions or if I can clarify on anything!
Mary