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Individual as a source of matching funds

  • 1.  Individual as a source of matching funds

    Posted 21 days ago
    We use Raiser's Edge and RENXT for our CRM.

    We have an individual who would like to give a $30,000 gift to be used to match other gifts during our giving day. I don't want to create a matching gift Organization record for this individual because I want all of his giving on one record. And I don't want the individual to be counted as an Organization, or as a Matching Gift Company.

    Is there a way to record the use an individual's gift as a matching gift? I've been thinking about setting up a tribute type of "Matching Gift" with a description of "Giving Day". We would still have to monitor the gifts that were matched so as not to exceed $30,000, but at least we could capture the gifts we matched with the major gift.

    I would love to hear ideas for handling this within the CRM.

    ------------------------------
    Shauna Croft
    ED for Advancement and Foundation Services
    Idaho State University Foundation
    shaunacroft@isu.edu
    ------------------------------


  • 2.  RE: Individual as a source of matching funds

    Posted 21 days ago
    We did this many years ago using an older version of Advance.  We did not have to create a matching organization record.  We were able to manually set an MG code on the donor's pledge.  But your idea of either a tribute type or appeal code (my preference) is a good one.

    BTW, when recording this pledge don't forget that it's a conditional pledge - not one you can feed to the GL.  The condition is that this donor won't pay unless other donors do!

    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: Individual as a source of matching funds

    Posted 21 days ago
    Thank you for your quick response, John. 

    How would you use the appeal code? Set one up for each major gift that would be used as a match, and record the matching gift and the matched gifts to that code?


    ------------------------------
    Shauna Croft
    ED for Advancement and Foundation Services
    Idaho State University Foundation
    shaunacroft@isu.edu
    ------------------------------



  • 4.  RE: Individual as a source of matching funds

    Posted 21 days ago
    Hi Shauna,

    RE's matching function is not designed for the use case you're describing, unfortunately - see https://re7.ideas.aha.io/ideas/RE7-I-4721

    One approach is to create a pledge for every donor funding the match, and an appeal code for all the gifts to be matched. You can monitor the appeal total, and then, when you close the match, you can fulfill the pledges with your match gifts, which you can also apply to the same appeal. This way, that appeal has all the money raised from both sides, but you still have a record of the pledge that is separate from the gifts to be matched. You can also use a Package code to further distinguish the two sides of the match, to aid in your reporting.

    If you don't want to use appeal codes, you can use attributes instead, as always.

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

    Schedule a 30-minute consultation now:







  • 5.  RE: Individual as a source of matching funds

    Posted 21 days ago
    Not exactly.  In one case (it was a massive pledge to establish 15 professorships), we created a single appeal code for the name of the matching challenge.  Then we coded the pledge with that appeal and all gifts from individuals participating in the challenge.  And, with that version of Advance, whatever appeal code was attached to a pledge automatically transferred to that donor's pledge payments.

    Thus, we could run weekly reports using that single appeal code to track the pledge, its payments, and other gifts from other individuals.

    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