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COFR Question

  • 1.  COFR Question

    Posted 15 days ago

    Does anyone count non legally binding contributions when calculating cost of funds raised?

    Thanks!

    Eydie

     

     

     

    Eydie Boor

    Supervisor Foundation Operations

    Mail Stop 010605

    Gillette Children's Hospital Foundation

    200 University Ave E

    St. Paul, MN 55101

     

    651.229.1746

    eydboor@gillettechildrens.com

     

     

    Support amazing children – Donate now!

     

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  • 2.  RE: COFR Question

    Posted 15 days ago
    Do you mean money that is given to you but the donor can take back?  If that is what you mean the money isn't legally yours - until you spend it!  So only the expended funds could be included.

    If you are talking about pledges, those are not included at all in every study I have seen - only cash in the door.

    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: COFR Question

    Posted 15 days ago

    So, if a development officer knows an intent is to pay $5 mil over the next 5 years, do we have any responsibility to tell our business office about it?  This is hypothetical, of course J

    Thank you for your feedback!

     

    Eydie Boor

    Supervisor Foundation Operations

    Mail Stop 010605

    Gillette Children's Hospital Foundation

    200 University Ave E

    St. Paul, MN 55101

     

    651.229.1746

    eydboor@gillettechildrens.com

     

     

    Support amazing children – Donate now!

     

    Gillette Logo

     






  • 4.  RE: COFR Question

    Posted 15 days ago
    Well, this is a different topic!  But in many cases, yes.  If you have a bonafide conditional commitment then you should share that with the Business Office (or ask them if they care).  When I was at NC State and Duke we were required to provide those conditional promises we defined as "material."  Accounting requirements (at the time) stated those commitments were to be mentioned in the annual report - but as a footnote, not as an asset.

    Your CFO is who really needs to answer this question.

    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






  • 5.  RE: COFR Question

    Posted 15 days ago

    Thanks, John!

     

    Eydie Boor

    Supervisor Foundation Operations

    Mail Stop 010605

    Gillette Children's Hospital Foundation

    200 University Ave E

    St. Paul, MN 55101

     

    651.229.1746

    eydboor@gillettechildrens.com

     

     

    Support amazing children – Donate now!

     

    Gillette Logo