pledge procedural question

I would vote for holding off recording the pledge unless you are VERY sure that you will raise the matching funds – which could certainly be the case.  For example, we had a donor who gave a nice gift and agreed (after we suggested) that it be presented as a match.  We already had a certain number of dollars that would qualify, and the purpose of the match was to bring in an additional amount.  In that case we did book the pledge before the other money came in.

But if it really is a “new” match to raise “new funds,”  I would wait.  Heaven forbid you would have to write off the match if it didn’t work.

_______________

Julie P. Hamre

Strathmore Hall Foundation, Inc.

5301 Tuckerman Lane

North Bethesda, MD  20852-3385

301.581.5136; fax 301.581.5201

www.strathmore.org

Support what you love. Strathmore Stars enjoy

10% off Strathmore performance tickets, advance

ticket purchase, discounts in the Shops at

Strathmore and in Tea Room, and access to special events.

This is more of a general Devo question than a Tessitura question but...

I'm wondering if any of you Devo people have a policy in place for entering pledges when there are conditions attached.  Most specifically I'm interested in Matching grants.

Here's the situation.  We have received notification of a pledge for a specific amount from a Foundation however they are requiring that we raise the same amount from other sources before they pay us.  Does your finance department allow you to book the pledge in Tessitura now or do you have to wait until you have met the conditions and received notification that the money from the Foundation is on its way.

Any input you can provide would be greatly appreciated!

thanks,
Dale

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!

I would vote for holding off recording the pledge unless you are VERY sure that you will raise the matching funds – which could certainly be the case.  For example, we had a donor who gave a nice gift and agreed (after we suggested) that it be presented as a match.  We already had a certain number of dollars that would qualify, and the purpose of the match was to bring in an additional amount.  In that case we did book the pledge before the other money came in.

But if it really is a “new” match to raise “new funds,”  I would wait.  Heaven forbid you would have to write off the match if it didn’t work.

_______________

Julie P. Hamre

Strathmore Hall Foundation, Inc.

5301 Tuckerman Lane

North Bethesda, MD  20852-3385

301.581.5136; fax 301.581.5201

www.strathmore.org

Support what you love. Strathmore Stars enjoy

10% off Strathmore performance tickets, advance

ticket purchase, discounts in the Shops at

Strathmore and in Tea Room, and access to special events.

This is more of a general Devo question than a Tessitura question but...

I'm wondering if any of you Devo people have a policy in place for entering pledges when there are conditions attached.  Most specifically I'm interested in Matching grants.

Here's the situation.  We have received notification of a pledge for a specific amount from a Foundation however they are requiring that we raise the same amount from other sources before they pay us.  Does your finance department allow you to book the pledge in Tessitura now or do you have to wait until you have met the conditions and received notification that the money from the Foundation is on its way.

Any input you can provide would be greatly appreciated!

thanks,
Dale

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!