Donor Advised Gift

Catherine Avena 2

Good morning,


I am looking to see if anyone has a policy on recording a financial commitment when a donor indicates that they are going to use their Donor advised fund to fulfill the commitment knowing that Donor advised funds cannot be used to pay off a pledge/commitment.


Thanks,

Catherine Avena

Denise Covington

Depending on the size of the gift, we have called the Donor Advised Fund (DAF) to get a committment directly from them.   They have been known to confirm the committement via and email or letter.


​When we do know and receive the committment signed by them, we will enter it as do not post so accounting doesn't book it, but we know it is coming. More of a placeholder so we don't forget it is coming.  Then we would adjust it down and add the cash gift (unless we have the committment directly fromt he DAF.


​When we don't know and we already have a pledge on the donor record, we will adjust the pledge on the donor down and then enter the cash gift on the DAF.


 

Christine Cooke 2

Catherine Avena:

Good morning,


I am looking to see if anyone has a policy on recording a financial commitment when a donor indicates that they are going to use their Donor advised fund to fulfill the commitment knowing that Donor advised funds cannot be used to pay off a pledge/commitment.


Thanks,

Catherine Avena

I record them as a Verbal Promise -- either in Proposal or in Gift as a Pledge with a Sub Type of Verbal Promise and the VPs are not reported/loaded into the business office.  It is just a way of noting that we expect something from that person based on verbal communication.  The other place you could note it would be as an Action