For those that use the planned giving functionality, when would you actually enter (if ever) a planned gift into the contribution module prior to receiving the gift? I assume at some point you would want to apply it to your endowment campaign maybe as a pledge?
Thanks,
Marty
Hi Marty -
Our policy was born from close partnership with finance in determining the most accurate way to reflect potential gifts while being true to the conservative fiscal policies that define our organization.
We only enter a planned gift into the contribution module as a pledge if it is accompanied by a signed pledge statement which is very detailed and was originally drafted by Lyric's attorney. And even then, only when we are in campaign mode. We have many dollars committed as planned gifts, but by comparison, very little is reflected "on the books" because there are too many variables which can affect the final value of the gift at the time it is received, including a person dying with no financial resources, and of course, the dreaded change of heart towards our organization.
Hope that helps -
Erin