Grant Soft Credit (pass thru)

Mary Dunning 2

Received a "grant" from a local hospital foundation that was funded by a gift made by one of our volunteer doctors.  The funds received by the hospital will be used to provide our clients with medicine, lab services and diagnostic testing.  I have recorded it as a "hard" gift from the hospital foundation and "soft" credited the doctor.  How would you apply soft/hard credits to record this?  Also, our accounting department is coding it as "gift-in-kind".  

Lisa Slawinski

Mary Dunning:

Received a "grant" from a local hospital foundation that was funded by a gift made by one of our volunteer doctors.  The funds received by the hospital will be used to provide our clients with medicine, lab services and diagnostic testing.  I have recorded it as a "hard" gift from the hospital foundation and "soft" credited the doctor.  How would you apply soft/hard credits to record this?  Also, our accounting department is coding it as "gift-in-kind".  

Hi Mary,


I would treat this as I treat our Donor Advised Funds, with an individual donor listed, or conversely, a DAF from a Community Foundation:


I hard credit the donor and soft credit the DAF or Community Foundation. Just because the check is from the Hospital shouldn't  mean the Hospital gets the full credit as the Doctor is responsible for recommending or directing the gift.  If it's cold hard cash ( as it sounds like from your explanation), I wonder why your accounting department considers a cash gift a gift-in kind?   


If you have other questions, feel free to message me.


Lisa

Mary Dunning 2

Lisa Slawinski:

Mary Dunning:

Received a "grant" from a local hospital foundation that was funded by a gift made by one of our volunteer doctors.  The funds received by the hospital will be used to provide our clients with medicine, lab services and diagnostic testing.  I have recorded it as a "hard" gift from the hospital foundation and "soft" credited the doctor.  How would you apply soft/hard credits to record this?  Also, our accounting department is coding it as "gift-in-kind".  

Hi Mary,


I would treat this as I treat our Donor Advised Funds, with an individual donor listed, or conversely, a DAF from a Community Foundation:


I hard credit the donor and soft credit the DAF or Community Foundation. Just because the check is from the Hospital shouldn't  mean the Hospital gets the full credit as the Doctor is responsible for recommending or directing the gift.  If it's cold hard cash ( as it sounds like from your explanation), I wonder why your accounting department considers a cash gift a gift-in kind?   


If you have other questions, feel free to message me.


Lisa

 

I do not know why she is using gift-in-kind. Perhaps because we did not receive any cash, only access to pre-paid services.  I would record as you suggested.  How would this effect our accounting records (they use Financial Edge)?