FundSvcs Community

We have a large commitment that is guaranteed by an individual however the payment start date is unknown - it is dependent on a sale of an asset.  Which could be 5 years from now - or 8 years from now - no way to know.  It will then also pay out after 15 years.  Do we book as a pledge with a date way out there and adjust as we know more or is there a better way to handle this.  We need the gift to count this year.  Accounting will book as a receivable and put the present value in for the amount and reduce once payments start. 

Thanks for any input

We have a large commitment that is guaranteed by an individual however the payment start date is unknown - it is dependent on a sale of an asset.  Which could be 5 years from now - or 8 years from now - no way to know.  It will then also pay out after 15 years.  Do we book as a pledge with a date way out there and adjust as we know more or is there a better way to handle this.  We need the gift to count this year.  Accounting will book as a receivable and put the present value in for the amount and reduce once payments start. 

Thanks for any input

We have a large commitment that is guaranteed by an individual however the payment start date is unknown - it is dependent on a sale of an asset.  Which could be 5 years from now - or 8 years from now - no way to know.  It will then also pay out after 15 years.  Do we book as a pledge with a date way out there and adjust as we know more or is there a better way to handle this.  We need the gift to count this year.  Accounting will book as a receivable and put the present value in for the amount and reduce once payments start. 

Thanks for any input

We have a large commitment that is guaranteed by an individual however the payment start date is unknown - it is dependent on a sale of an asset.  Which could be 5 years from now - or 8 years from now - no way to know.  It will then also pay out after 15 years.  Do we book as a pledge with a date way out there and adjust as we know more or is there a better way to handle this.  We need the gift to count this year.  Accounting will book as a receivable and put the present value in for the amount and reduce once payments start. 

Thanks for any input

We have a large commitment that is guaranteed by an individual however the payment start date is unknown - it is dependent on a sale of an asset.  Which could be 5 years from now - or 8 years from now - no way to know.  It will then also pay out after 15 years.  Do we book as a pledge with a date way out there and adjust as we know more or is there a better way to handle this.  We need the gift to count this year.  Accounting will book as a receivable and put the present value in for the amount and reduce once payments start. 

Thanks for any input