How to record a transfer of land to pay off a pledge balance

Lauri Roberson 2

Hello,


We recently had a property deed transferred to our school with an appraised value of $2,090,000. The donor intended to pay off his personal cash pledge of $576,000. What is the best way to record this in Raiser's Edge? Do we pay off the pledge balance and create a new gift for the remaining amount of the land appraisal?


Thanks,

Lauri

John Heizer

While RE can automatically create a 2nd Gift record when you overpay a pledge, I'd manually do it as 2 Gifts.  Either way, things get a little dirty when you then sell the Stock/Property gift and try to allocate gain/loss/expenses.