That is what we were doing previously in our old database.
Our new database calculates what we can expect as of today, what can be expected in the current and next fiscal year automatically for us.
K. Harvey Summers
A.T. Sill University (ATSU)
Original Message:
Sent: 07-22-2024 01:25 PM
From: John Taylor
Subject: Reporting on Recurring/Rollover Pledges - Pledge Projection Reports for Auditors
For internal tracking purposes, some clients will create a "placeholder" pledge for the current fiscal year, usually for the Annual Giving office. But these are not fed to the GL.
There are smarter ways to make note of these, and I dislike doing this manually. But with some older CRMs, you do what needs doing.
John
John H. Taylor
919.816.5903 (Cell/Text)
Big Ideas; Small Keyboard
Original Message:
Sent: 7/22/2024 2:07:00 PM
From: K. Harvey Summers
Subject: RE: Reporting on Recurring/Rollover Pledges - Pledge Projection Reports for Auditors
Thank you John. That is what I was thinking, but started questioning myself. There is no stated amount that a donor is saying they will pay on these. Well, other than the stated amount per transaction, which could stop at any time.
This is very helpful.
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K. Harvey Summers
A.T. Sill University (ATSU)
ksummers@atsu.edu
Original Message:
Sent: 07-22-2024 12:50 PM
From: John Taylor
Subject: Reporting on Recurring/Rollover Pledges - Pledge Projection Reports for Auditors
Most of my clients only record pledges when the amount is material (their auditors define this amount). However, the donor must sign a pledge agreement stipulating to paying a minimum amount.
If a donor signs up for a sustaining gift, with the ability to cancel at any time and without guaranteeing a minimum amount, then there is no "bookable" pledge to feed to the GL.
John
John H. Taylor
919.816.5903 (Cell/Text)
Big Ideas; Small Keyboard
Original Message:
Sent: 7/22/2024 1:45:00 PM
From: K. Harvey Summers
Subject: Reporting on Recurring/Rollover Pledges - Pledge Projection Reports for Auditors
How is everyone reporting on recurring/rollover pledges. Specifically, for your auditors. Our Finance office has requested that we ask to see how others are doing this before they bring up a potentially touchy subject with our auditors.
Previously we entered a pledge for the next calendar year and then forecasted the total for 1 year. This was partially due to our limitations with our old database. Now that we have a new database, we have more ability to enter, track, and report on, recurring pledges. Sometimes though the math just does not work out on total expected, total received, and total due.
Are others counting just the payments as they come in and not forecasting anything? Are you only forecasting for 1 year, 2 years, 3 years, 4 years, 5 years, more?
Help!
K. Harvey Summers
Gift Income Coordinator
University Advancement
A.T. Still University
800 W. Jefferson St. | Kirksville, MO 63501
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K. Harvey Summers
A.T. Sill University (ATSU)
ksummers@atsu.edu
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