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  • 1.  Applying Over-payment of Pledge Installments

    Posted 07-27-2023 09:02 AM

    Good morning,

     

    I'm working on updating our pledge policies and procedures and welcome your input on the following.

     

    What is the practice at your institution when a donor "overpays" a pledge installment? 

     

    For example, Donor A pledged $50,000 to be fulfilled at $10,000 per year for five years. Donor gives $16,000 on year one, thus "overpaying" this installment. 

     

    • Do you adjust the next installment amount (year two is now $4,000)?
    • Do you adjust the remaining installments ($34K divided by 4)?
    • Do you adjust the final installment (year five becomes $4,000)?
    • Does someone (who?) contact the donor and ask what they want adjusted?
    • or, something else?

     

    Also, what if the donor sends $20,000 on year one – do you skip reminders in year 2 or adjust any/all of the remaining installments?

     

    Thank you,

     

    Heidi

     

    Heidi Findlay

    Senior Gifts Manager

    (she/her/hers)

     

    Rollins College | Institutional Advancement

    407-646-2572 | hfindlay@rollins.edu 

     

    Make a difference in students' lives today. Give to the Rollins Annual Fund and light the way for the next generation:  https://rollins.college/give

     

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  • 2.  RE: Applying Over-payment of Pledge Installments

    Posted 07-27-2023 09:23 AM

    We apply the overpayment to the next installment unless the donor specifies otherwise.

     

    Karry Morton | Director, Gift Services
    Children's Hospital Colorado Foundation
    13123 East 16th Avenue, Box 045 | Aurora, CO 80045
    Phone: 720-777-1742 | Cell: 720-323-3305


    SupportChildrensColorado.org | Facebook | Instagram | Twitter | LinkedIn

     

     

    For every child who needs us. From fixing broken bones to treating pediatric cancer, your generosity helps us serve Children's Hospital Colorado patients and families who depend on us every day. Donate today.

     

    If you would like to opt-out of communications from Children's Colorado Foundation, please email info@childrenscoloradofoundation.org or call 720-777-1700.

     

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    Original Message


  • 3.  RE: Applying Over-payment of Pledge Installments

    Posted 07-27-2023 10:22 AM

    I think the answer can vary by donor situation but as a default we would apply to the next pledge and, in the end, if it resulted in an overpayment of the whole pledge, we would record the overall overpayment as an additional outright gift. A benefit to that is that if campaign (or similar) reporting counts New Pledges + Outright gifts, overpayments might not get accounted for if simply overpaid on individual payments.

     

    The variance from policy can happen if there is something in the gift/pledge agreement specifying how to handle or if the fundraiser reaches out to the donor to ask as since it is not a bad donor touch opportunity.

     

    Regarding pledge reminders, if there is no pledge balance, a reminder would not go out, so in the $20,000 used to pay two $10,000 payments, no reminder would go out because no balance is due.

     

    John Smilde

    Director of Gifts and Records Administration

    Advancement and Alumni Relations

    George Mason University

    4400 University Drive, MSN 1A3

    Fairfax, VA 22030

    703.993.8680

    jsmilde@gmu.edu

     

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    Original Message


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