Corporate Pledge, Foundation Payment

Esther Curtis

Hello, 


We received an event sponsorship from a company, named T.G. The sponsorship - which we know is supposed to be credited to T.G., was paid out of the company's private foundation account, which has a completely different name (i.e. The Butterfly Foundation). Would you simply enter the Butterfly Foundation as a new organization in Raiser's Edge and then soft credit the organization T.G.?


Is there a better way to do this?


Thanks,


Esther

JoAnn Strommen

Just lost the reply I entered...????

 

We would do as you described and create a foundation record and then SC or if pledge is in RE, apply payment to the pledge.  Shouldn't be an issue for a company foundation .  Not allowed if a personal/family foundation.  If I'm not familiar with the foundation, I usually check to see if there are any restrictions with the gift if they are not stated in paperwork with gift.  As it's an event sponsorship, I'm assuming you're not dealing with a tax-deductible gift so to me it's even less of an issue.


My 2 cents....