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pledge procedural question

Dale Aucoin
$organization

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

Parents
  • $organization

    Here at the Public we do wait until the match conditions had been met for grants such as these, and then pledge them when we receive confirmation that it is going to be paid out.

     

    One tip, though, for our most recent grant like this not all gifts qualified for the matching amount. What we ended up doing to track the gifts that did is create a dummy account (XYZ Foundation Challenge Grant) and then soft credited all the appropriate gifts to that record. At any point any staff member could then look up that account and see how close we were to the goal just by clicking on the Contributions Tab. We were also able to easily pull a report of all the attached contributions by printing out the Credited Contributions section of the Full Bio report without having to worry about appeal, source, or what have you.

     

    Rey

     

    --

    A. Rey Pamatmat

    Tessitura Manager

    The Public Theater

    425 Lafayette Street

    New York, NY 10003

    (212) 539-8739

    rpamatmat@publictheater.org

     

     

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Julie Hamre
    Sent: Tuesday, November 16, 2010 1:49 PM
    To: Rey Pamatmat
    Subject: RE: [Tessitura Development Forum] 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

     

    StarsLogo4C

     

    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.

     

     

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Dale Aucoin
    Sent: Tuesday, November 16, 2010 1:24 PM
    To: Julie Hamre
    Subject: [Tessitura Development Forum] pledge procedural question

     

    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!




    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!

Reply
  • $organization

    Here at the Public we do wait until the match conditions had been met for grants such as these, and then pledge them when we receive confirmation that it is going to be paid out.

     

    One tip, though, for our most recent grant like this not all gifts qualified for the matching amount. What we ended up doing to track the gifts that did is create a dummy account (XYZ Foundation Challenge Grant) and then soft credited all the appropriate gifts to that record. At any point any staff member could then look up that account and see how close we were to the goal just by clicking on the Contributions Tab. We were also able to easily pull a report of all the attached contributions by printing out the Credited Contributions section of the Full Bio report without having to worry about appeal, source, or what have you.

     

    Rey

     

    --

    A. Rey Pamatmat

    Tessitura Manager

    The Public Theater

    425 Lafayette Street

    New York, NY 10003

    (212) 539-8739

    rpamatmat@publictheater.org

     

     

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Julie Hamre
    Sent: Tuesday, November 16, 2010 1:49 PM
    To: Rey Pamatmat
    Subject: RE: [Tessitura Development Forum] 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

     

    StarsLogo4C

     

    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.

     

     

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Dale Aucoin
    Sent: Tuesday, November 16, 2010 1:24 PM
    To: Julie Hamre
    Subject: [Tessitura Development Forum] pledge procedural question

     

    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!




    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!

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