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Gift in Kind Pledge

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  • 1.  Gift in Kind Pledge

    Posted 10 days ago
    Dear All,

    We just signed off a Gift in Kind agreement, where the donor pledged to support one of our schools with a gift kind. The Controllers Office refused to record it as a pledge, according to them it's recorded only whenever the asset exists and is fully controlled by the University.

    Are gift-in-kind pledges accepted according to CASE? 

    Thank you for your help

    Farida
    Director, Gift Administration
    The American University in Cairo

    ------------------------------
    Farida Ahmed
    Director, Gift Administration
    The American University in Cairo
    farida@aucegypt.edu
    ------------------------------


  • 2.  RE: Gift in Kind Pledge

    Posted 10 days ago
    Yes.  A bonafide pledge of any contributed asset is countable for CASE.  CASE Standards and accounting standards are not always in sync.  And that's just fine.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987






  • 3.  RE: Gift in Kind Pledge
    Best Answer

    Posted 10 days ago
    Accounting standards call for a written and irrevocable pledge for a GIK to be recorded at the time of the pledge, which is in alignment with CASE standards. As long as the pledge and the receipt of the gift happen within the same fiscal year, it won't matter if the pledge was recorded by your business office or not, and many business offices don't bother recording these pledges, it's just extra work with no material impact. I would touch base with your business office if the gift is expected in a later year than the pledge and give them a heads up.


    Thank you,
    Isaac Shalev
    Data Strategy Expert
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

    Schedule a 30-minute consultation now:







  • 4.  RE: Gift in Kind Pledge

    Posted 10 days ago
    Thank you Isaac, we do have a signed irrevocable pledge, but the pledge will be recorded in FY21 and we will receive the assets in FY22

    ------------------------------
    Farida Ahmed
    Director, Gift Administration
    The American University in Cairo
    farida@aucegypt.edu
    ------------------------------



  • 5.  RE: Gift in Kind Pledge

    Posted 10 days ago
    Thank you John for your help as usual

    Have a great day

    Farida

    ------------------------------
    Farida Ahmed
    Director, Gift Administration
    The American University in Cairo
    farida@aucegypt.edu
    ------------------------------