Foundation Grants

Marsha Wynn

To do or Not to Do? That is the question. Do you enter a pledge for an amount that you have been granted but payment is scheduled for a later date? We have a foundation that we requested funds ($100,000) for a capital project. We have been granted the funds, however we were told that they would be sent on November 30th. Would you enter this as a pledge for reporting purposes or would you just wait until the funds come in, knowing that amount is out there?

JoAnn Strommen

Marsha Wynn:
To do or Not to Do? That is the question. Do you enter a pledge for an amount that you have been granted but payment is scheduled for a later date? We have a foundation that we requested funds ($100,000) for a capital project. We have been granted the funds, however we were told that they would be sent on November 30th. Would you enter this as a pledge for reporting purposes or would you just wait until the funds come in, knowing that amount is out there?

I think that's up to your org.  Do you want the $ to appear on reports run between now and then?  To me, it's not a big deal - not right or wrong either way.  We would most likely enter it so it reflected on $ raised.

Michael Sherman

Marsha Wynn:
To do or Not to Do? That is the question. Do you enter a pledge for an amount that you have been granted but payment is scheduled for a later date? We have a foundation that we requested funds ($100,000) for a capital project. We have been granted the funds, however we were told that they would be sent on November 30th. Would you enter this as a pledge for reporting purposes or would you just wait until the funds come in, knowing that amount is out there?

We enter it.

Melissa Graves 2

Marsha Wynn:
To do or Not to Do? That is the question. Do you enter a pledge for an amount that you have been granted but payment is scheduled for a later date? We have a foundation that we requested funds ($100,000) for a capital project. We have been granted the funds, however we were told that they would be sent on November 30th. Would you enter this as a pledge for reporting purposes or would you just wait until the funds come in, knowing that amount is out there?

If you have a document stating the money is coming, you have a bookable pledge.

Nicole S

Melissa Graves:
If you have a document stating the money is coming, you have a bookable pledge.

 We enter it.  If for some reason that money doesn't come in or is late, you want to have a record of it.  I have seen so much anticipated money "disappear" because no one booked a pledge because the money "is gonna be here in just a couple of weeks anyway".  Then it doesn't and by the time anyone realizes it didn't come in so much time has passed that is gets awkward to even invoice them.