Unless the donor owns the LLC they never could have pledged that payment. I would also write the pledge off but give the individual soft credit for the outright gift (if the (Gift Acceptance Committee agrees to accept!). Therefore the donor still has the same amount of credit.
John Taylor
919.816.5903
johntaylorconsulting@gmail.com
Big ideas; small keyboard
> On Jul 2, 2019, at 10:11 AM, Scott Lober <
SCOTT.LOBER@phhs.org> wrote:
>
> Need some advice please.
>
> Several years ago a donor made a 7 figure pledge to be paid over 5 years. He’s made his payments via cash. Now he wants to make his final payment with a piece of property own by one of his LLCs.
>
> What things need we consider regarding this? Also, I’ve been told we’re going to have to write off the balance to this pledge and add this as a new gift. Can’t we just apply the value of the property to his pledge?
>
> Thanks in advance.
>
>
> CONFIDENTIALITY NOTICE This message (including any attachments) is intended only for the use of the addressee(s) and may contain information that is privileged and confidential. If you are the intended recipient, further disclosures are prohibited without proper authorization. If you are not the intended recipient or an authorized representative of the intended recipient, the use, dissemination or reproduction of this communication is prohibited and may be a violation of federal or state law and regulations. If you have received this communication in error, please destroy all copies of the message and its attachments and notify the sender immediately. The Dallas County Hospital District and its affiliated entities hereby claim all applicable privileges related to this information.