FundSvcs Community

 View Only

  • 1.  Procedure for open pledges from donors who pass away?

    Posted 12-17-2024 02:47 PM

    Hello, all –

     

    May I ask if any of your institutions have written procedures on how you handle instances in which someone who has an open pledge (a standard pledge, NOT a bequest) passes away?  Are there certain steps you take before you write off the balance? 

     

    Any input you're able to share would be greatly appreciated!

     

    Many thanks,

     

    Michael Halverson, Ed.D.
    Associate Vice President
    Development Resources
    Division of Development and Alumni Relations
    6200 San Amaro Drive, Suite 300
    Coral Gables, FL 33146
    Office: 305-284-1608 | Cell: 320-363-4987
    Email: mhalverson@miami.edu
    miami.edu | everbrighter.miami.edu


    https://advancement.miami.edu/NetCommunity/image/adv_intra/dept-name-updates/Standard-Signature-UMlogo.png

    Join us in building an ever brighter future!

     

     

    The information contained in this transmission may contain privileged and confidential information, including information protected by federal and state privacy laws. It is intended only for the use of the person(s) named above. If you are not the intended recipient, you are hereby notified that any review, dissemination, distribution, or duplication of this communication is strictly prohibited. If you are not the intended recipient, please contact the sender by reply email and destroy all copies of the original message.

     



  • 2.  RE: Procedure for open pledges from donors who pass away?

    Posted 12-17-2024 02:53 PM
    If it is an open pledge, would there be a balance? The donor didn't commit to a fixed amount, so there would be nothing to write off. We would mark the pledge paid with the total paid thus far. 



    Original Message


  • 3.  RE: Procedure for open pledges from donors who pass away?

    Posted 12-17-2024 03:01 PM
    I think Michael might also be using the word "open" to mean "outstanding" (with a balance due).

    If there is a balance I usually suggest the assigned prospect manager reach out to the surviving partner or Executor to inquire whether there are plans to complete the pledge (many times these parties are unaware of the commitment). However, if they indicate no further payments will be made - or if you choose to not even bring it up because the balance is not material - I do as Jeff suggests and close the pledge.

    There is one caveat. If the amount due is significant (your definition) - and the pledge is binding - I would seek advice from the Gift Acceptance Committee first.

    John

    John H. Taylor
    919.816.5903 (Cell/Text)

    Big Ideas - Small Keyboard



    Original Message


  • 4.  RE: Procedure for open pledges from donors who pass away?

    Posted 12-17-2024 03:36 PM

    Thank you, John and Jeff.  I really appreciate your quick feedback.

     

    Michael Halverson

    Cell: 320-363-4987

    Office: 305-284-1608

     




    Original Message


Related Content