You should use whatever process you're using now to record pledge payments
made by third parties (DAFs, for instance.)
You'll need to figure out what your organization wants to do with a piece
of property. Will you sell it immediately or hold on to it for a while?
Selling it immediately will allow you to know what the value of the pledge
payment is. Don't forget to subtract selling costs.
--Bill
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.