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Pooled Contribution for Another Organization?

  • 1.  Pooled Contribution for Another Organization?

    Posted 21 days ago
    I just learned that one our trustees challenged her fellow trustees to pool funds to make a group gift to another institution.

    Senior leadership agreed that our organization could receive the gifts, and write one check to the other institution on their behalf.

    Can we do this? My antenna is up, but I am not sure how to articulate my concerns to our senior leadership team.

    Thank you,

    Cecily Macy
    VP of Development
    Pennsylvania Academy of the Fine Arts

    ------------------------------
    Cecily Macy
    Vice President of Development
    Pennsylvania Academy of the Fine Arts
    cmacy@pafa.org
    ------------------------------


  • 2.  RE: Pooled Contribution for Another Organization?

    Posted 21 days ago
    Whether your institution can serve as a fiduciary (or "bank") in this way is a matter of financial policy.  Your CFO must be consulted.

    However, if the question is whether you can count these payments and issue receipts, the answer is absolutely not.

    John

    John Taylor
    919.816.5903

    Big ideas; small keyboard





  • 3.  RE: Pooled Contribution for Another Organization?

    Posted 18 days ago
    Thanks, John. Can you please share the exact reason why these cannot be receipted/counted? I want to be able to explain in explicitly to others. Thank you!

    ------------------------------
    Cecily Macy
    Vice President of Development
    Pennsylvania Academy of the Fine Arts
    cmacy@pafa.org
    ------------------------------



  • 4.  RE: Pooled Contribution for Another Organization?

    Posted 18 days ago
    It's not your money.

    John Taylor
    919.816.5903

    Big ideas; small keyboard