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Language creating conditional pledge

  • 1.  Language creating conditional pledge

    Posted 11-25-2019 11:03 AM
    We have two fundraising events each year, one in April and one in October.  Historically, we've solicited sponsorships separately for these, so that the funds received fall in the proper fiscal year (July - June), but in recent years we've had companies whose fiscal year is also the calendar year ask to make sponsorship commitments for both in the early spring. 

    In order to do this (to satisfy our auditors), our CFO has asked us to create a sponsorship agreement form splitting out the value of the two sponsorships, with a box for the company representative to check that indicates (for the October event) something along the lines of "these sponsorship dollars are not to be spent until after July 1, or are to be returned to the sponsoring company."

    Does anyone have better language than this (this feels clunky).  Or a similar form they could share?

    Thank you!

    Karen Warr, GPC
    Grants and Database Coordinator
    LifeWorks NW