FundSvcs Community

Potentially basic question about the timing of gifts and recognition standards, but thought I'd pose the situation here to see if anyone has thoughts:

Our PK-12 independent school embeds a voluntary donation option in our student enrollment contract, and we process all of those enrollment payments along with the voluntary donation in June which is the month before our fiscal year ends. 

Ideally, we want to recognize these donations in the upcoming fiscal year as they are paired with the enrollment documentation for that next fiscal year.

If the voluntary donation portion of the enrollment form has language stating that the gift will be recognized in the upcoming fiscal year, are we allowed to record a June payment with a July effective date?

Potentially basic question about the timing of gifts and recognition standards, but thought I'd pose the situation here to see if anyone has thoughts:

Our PK-12 independent school embeds a voluntary donation option in our student enrollment contract, and we process all of those enrollment payments along with the voluntary donation in June which is the month before our fiscal year ends. 

Ideally, we want to recognize these donations in the upcoming fiscal year as they are paired with the enrollment documentation for that next fiscal year.

If the voluntary donation portion of the enrollment form has language stating that the gift will be recognized in the upcoming fiscal year, are we allowed to record a June payment with a July effective date?

Thank you for the response!

Looks like the best way forward is to investigate other methods to do this

Potentially basic question about the timing of gifts and recognition standards, but thought I'd pose the situation here to see if anyone has thoughts:

Our PK-12 independent school embeds a voluntary donation option in our student enrollment contract, and we process all of those enrollment payments along with the voluntary donation in June which is the month before our fiscal year ends. 

Ideally, we want to recognize these donations in the upcoming fiscal year as they are paired with the enrollment documentation for that next fiscal year.

If the voluntary donation portion of the enrollment form has language stating that the gift will be recognized in the upcoming fiscal year, are we allowed to record a June payment with a July effective date?

Potentially basic question about the timing of gifts and recognition standards, but thought I'd pose the situation here to see if anyone has thoughts:

Our PK-12 independent school embeds a voluntary donation option in our student enrollment contract, and we process all of those enrollment payments along with the voluntary donation in June which is the month before our fiscal year ends. 

Ideally, we want to recognize these donations in the upcoming fiscal year as they are paired with the enrollment documentation for that next fiscal year.

If the voluntary donation portion of the enrollment form has language stating that the gift will be recognized in the upcoming fiscal year, are we allowed to record a June payment with a July effective date?