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  • 1.  Finite recurring gifts

    Posted 11-14-2024 11:02 AM

    Hi all,

    I hope those of you at the conference are having a great time! 

    I have a question about how you all track non-indefinite recurring gifts in your CRMs. Our CRM has a specific place to track the indefinite gifts, but anything else is up in the air. Do you book it as a specific type of "pledge"? Let's say it's a monthly gift for 5 years. We're a little stuck on how to handle these, and with our new giving platform, it's easier to see them as they come in, but we haven't been tracking recurring gifts (of any type) previously. 

    Looking for any and all insight, thanks!



    ------------------------------
    Abbey Soclof
    Yeshiva University
    abbey.soclof@yu.edu
    ------------------------------


  • 2.  RE: Finite recurring gifts

    Posted 11-15-2024 06:07 AM
    Abbey, I usually see these booked like a standard pledge with five years of payment schedules.

    Depending on the CRM, you can create a unique pledge type. Some institutions will use the word "Recurring" to describe a commitment with a standard dollar and frequency amount that never ends, and "Sustaining" to describe pledges that are recurring, but have either a specific end date or maximum total amount.

    Anyway, for you finite pledges I'd record a pledge for the expected duration and total anticipated amount. I'd create five payment schedules (for your example), one for each year. If the recurring payments were less frequent than monthly, such as quarterly, I'd be inclined to record a payment schedule for each period.

    I would also suppress pledge reminders as you know the payments will be made because you are creating them!

    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


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