pledge procedural question

Hi Dale,

We do book some of our matches before the money is received.  We are in a situation now that we are carrying some of a remaining match that we did not fully raise funds for on our books, but the “due date” of the pledge is out in the future (we were not expecting the funds from the match donor in the same time frame as the matching gifts).  We also have high hopes that this match will be extended.  I believe most of our matches are booked when the money is received, but it really depends on the type of match and negotiations with the donor.

We used a designation to track all gifts that came in and applied toward the match to make accounting really simple.

Hope that helps!

Amber

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

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Hi Dale,

We do book some of our matches before the money is received.  We are in a situation now that we are carrying some of a remaining match that we did not fully raise funds for on our books, but the “due date” of the pledge is out in the future (we were not expecting the funds from the match donor in the same time frame as the matching gifts).  We also have high hopes that this match will be extended.  I believe most of our matches are booked when the money is received, but it really depends on the type of match and negotiations with the donor.

We used a designation to track all gifts that came in and applied toward the match to make accounting really simple.

Hope that helps!

Amber

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!