GIft to be used for FUTURE honor/memorial gifts

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My agency does tribute cards through the honor/memorial gift tab. I have clients who give us a large gift to be used for these tribute cards throughout the year. I am having problems determining how to record the gift to reflect the actual amount of the gift, and then apply the individual tribute cards against it.



What I had been doing turns out doesn't work as it adjusts the payment amount as I apply the individual tribute cards against it.



As an example, I have a client who gave me $500 to be used for 50 tribute cards that she orders for individuals throughout the year.

Every so often she will call and ask us to send a tribute card to someone and apply it against this $500 at $10/card. Originally I recorded the $500 gift when it came in, and then entered each tribute card as a pledge when it was ordered. Every month I would apply payment against the pledge. What then happened was it created a remainder gift which skewed the $500 to create separate gifts. I need to be able to preserve the original $500 gift.



Does anyone have experience with how to process this situation? Thanks!
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Comments

  • I think I got it...



    How about you do what you are doing with one extra step.  You enter the gift of $500.  You know that each tribute is $10, so you enter Pledges for each of the $10 tributes.  And then , you only pay the gift toward the pledge after the tribute is requested.  Then when it makes a cash gift for the remainder you use that to play for the next pledge/tribute.  It will create a new cash gift remainder, until you are eventually down to zero.

    It's a lot of line items, but you could also change the pledge date to match the date of the tribute when it's made.

    Just a thought.



    This reminds me of when United Way was giving us negative gift amounts.  LOL
  • Christine Cooke:

    I think I got it...



    How about you do what you are doing with one extra step.  You enter the gift of $500.  You know that each tribute is $10, so you enter Pledges for each of the $10 tributes.  And then , you only pay the gift toward the pledge after the tribute is requested.  Then when it makes a cash gift for the remainder you use that to play for the next pledge/tribute.  It will create a new cash gift remainder, until you are eventually down to zero.

    It's a lot of line items, but you could also change the pledge date to match the date of the tribute when it's made.

    Just a thought.



    This reminds me of when United Way was giving us negative gift amounts.  LOL

    Thanks Christine, I was wondering if something like that would work, however sometimes one of the donors allocates a larger amount for the gift, but i guess we could adjust it as we go. thanks!

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