Here's the situation: We received a gift of stocks which usually we would immediately sell and record as a cash donation. However, this gift has restrictions on when we are allowed to sell certain portions of the stock. Therefore the gift is currently a non-cash asset which has a variable value. Currently we have this gift recorded as a pledge for the value of the stock at the time of donation and make payments toward the pledge as we sell the stock. What we loose here is the record that we currently have the asset of the stocks; i.e. we are not waiting for it to come in we are just waiting for the opportunity to sell.
While the current set-up works I am wondering if anyone has a better idea of how to handle this non-cash asset which isn't quite a pledge and isn't quite an in-kind donation.
Thank You,
Andrea Williams
Development Coordinator
Phoenix Theatre