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Record a Pledge for a Future Property Donation?

  • 1.  Record a Pledge for a Future Property Donation?

    Posted 10-28-2021 08:13 AM

    Hello FundSvcs Community – seeking feedback from the group regarding the following scenario.  Has anyone experienced the type of donation documented below?

    A donor is pledging to construct a building.  The charitable organization will lease space in the building for 10 years.  After the 10 year period, the donor pledges to donate the building to the charitable organization. 

    Can a pledge be recorded to count the building value in attainment before the 10 year period is complete?
    If not, are there options to recognize the donor before the building is transferred to the charitable organization?

    Thanks.




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    Jeff Harris | Manager, Development Data & Reporting
    University Hospitals | Institutional Relations & Development
    10524 Euclid Avenue, Cleveland, OH 44195
    Office 216.844.0473 | Email jeff.harris@uhhospitals.org
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  • 2.  RE: Record a Pledge for a Future Property Donation?

    Posted 10-28-2021 11:59 AM
    A donor can make a pledge for a certain dollar amount and then pay it off with a gift in kind, the value of which would be applied to the pledge balance. That is a way to functionally "book" a future gift-in-kind.  Make sense?

    Pledge $1.0M
    Value of donated property $900K (per appraisal) booked as pledge payment
    Pledge balance $100K


    --
    Lesley Pratt via Gmail





  • 3.  RE: Record a Pledge for a Future Property Donation?

    Posted 10-29-2021 07:23 AM
    Yes, makes sense.  Thanks Lesley.

    ------------------------------
    Jeff Harris | Manager, Development Data & Reporting
    University Hospitals | Institutional Relations & Development
    10524 Euclid Avenue, Cleveland, OH 44195
    Office 216.844.0473 | Email jeff.harris@uhhospitals.org
    ------------------------------