FundSvcs Community

Our fiscal year ended 5/31/19. On June 2, we received a credit card payment via our online portal with the donor's comment that it was to be used for an athletic program for the 2018/2019 fiscal year which had just passed. Is there a legal requirement, or best practice, on how we need to treat this gift? Gwen -- *Gwen Donev* Director of Advancement Services Gustavus Adolphus College 800 West College Avenue Saint Peter, Minnesota 56082 Email: gwendonev@gustavus.edu Office: 507.933.6515

Do you have a WayBack machine? Unless you had set up a receivable before the books closed it is hard to spend this year’s money last year. You certainly cannot back date this gift. It is up to accounting how they might apply the gift. John John Taylor 919.816.5903 johntaylorconsulting@gmail.com Big ideas; small keyboard > On Jun 5, 2019, at 1:39 PM, Gwen Donev <gwendonev@gustavus.edu> wrote: > > Our fiscal year ended 5/31/19. On June 2, we received a credit card payment via our online portal with the donor's comment that it was to be used for an athletic program for the 2018/2019 fiscal year which had just passed. Is there a legal requirement, or best practice, on how we need to treat this gift? > > Gwen > > -- > Gwen Donev > Director of Advancement Services > Gustavus Adolphus College > 800 West College Avenue > Saint Peter, Minnesota 56082 > > Email: gwendonev@gustavus.edu > Office: 507.933.6515