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Donation of Stock less then pledge commitment

  • 1.  Donation of Stock less then pledge commitment

    Posted 19 days ago
    Hi all,

    A donor sent us stock to fulfill his pledge commitment but unfortunately it ended up being short by just under $100.  This brought up some questions regarding our tax receipts and what to do with the balance of the pledge and how the donor should be recognized. 

    I did some searching in the FundSvcs library and I see we are not required to put the stock value on a tax receipt but now I'm curious what you do with the shortfall against the pledge.  Do you write off the balance within a certain amount?  If so, how do you recognize the donor, at their full original commitment regardless of stock value?  If yes, how do you track it in the system?

    Thank you,
    Tammy

    ------------------------------
    Tammy Cline
    Asst Director of Advancement Svcs
    The West Point Association of Graduates
    tammy.cline@WPAOG.ORG
    ------------------------------


  • 2.  RE: Donation of Stock less then pledge commitment

    Posted 19 days ago
    We would initially communicate to the donor the discrepancy and ask if they want to make up the difference with an outright gift.   Most times they do.

    If they say 'no', we will writeoff the remainder of the amount by changing the status of the pledge

    Thanks.

    Tom

    --
    Thomas Chaves
    Associate VP for Advancement Operations
    Office of Advancement
    Saint Joseph's University
    5600 City Avenue, Philadelphia, PA 19131

    O: 610-660-1255 | M: 610-316-6541 | tchaves@sju.edu
    SJU.edu





  • 3.  RE: Donation of Stock less then pledge commitment

    Posted 19 days ago
    Same.  Back in the olden days (20 years ago) when I was at Duke, our legacy version of Advance had a cool feature.  You could set a flag that would automatically show a pledge as being fully paid if the payment amount was XX% of the total pledge amount.  You could set that percentage.  I want to say we selected either 98% or 99%.  The point being, we did not have to write the pledge off.  It reflected a paid status even if it was a few pennies short.

    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







  • 4.  RE: Donation of Stock less then pledge commitment

    Posted 19 days ago

    Wow, that's pretty cool.  Not sure our system can do it but I will check. 

     

    Next question, when you run recognition reports based on cash received how would you capture the donor?  Would you run the report similar by showing results 98-99% to recognition level to capture the shortfalls?

     

    Tammy M. Cline

    Assistant Director, Advancement Services

    West Point Association of Graduates

    698 Mills Road West Point, NY 10996  | 845.446.1540  |  WestPointAOG.org

     

    Serving West Point and the Long Gray Line

     

    CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender's written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

     






  • 5.  RE: Donation of Stock less then pledge commitment

    Posted 19 days ago
    Recognition policies are pretty institutionally-specific.  However, when we did this at Duke we still recognized the donor at the original amount whereas if we wrote a pledge off for nonpayment they were recognized at the reduced value.

    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







  • 6.  RE: Donation of Stock less then pledge commitment

    Posted 19 days ago

    This is great information, thank you!

     

    Tammy M. Cline

    Assistant Director, Advancement Services

    West Point Association of Graduates

    698 Mills Road West Point, NY 10996  | 845.446.1540  |  WestPointAOG.org

     

    Serving West Point and the Long Gray Line

     

    CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender's written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

     






  • 7.  RE: Donation of Stock less then pledge commitment

    Posted 19 days ago
    We would manually put someone into an annual gift society if they were shy because of reasons like that so recognition reports would pick them up.



    --
    Thomas Chaves
    Associate VP for Advancement Operations
    Office of Advancement
    Saint Joseph's University
    5600 City Avenue, Philadelphia, PA 19131

    O: 610-660-1255 | M: 610-316-6541 | tchaves@sju.edu
    SJU.edu





  • 8.  RE: Donation of Stock less then pledge commitment

    Posted 19 days ago

    This has been the general process we've used at several institutions where I've worked.  In some instances, we run a report of all gifts that are within X% of the next gift level.   

     

    Michael Halverson, Ed.D.
    Senior Director of Advancement Services
    Loyola University Chicago
    T. 312-915-7283 | C.
    320-363-4987
    mhalverson@luc.edu | www.luc.edu/advancement

     

     






  • 9.  RE: Donation of Stock less then pledge commitment

    Posted 19 days ago

    Thanks, Tom!  We actually did reach out to the donor and he was unhappy we didn't "satisfy" his commitment so now we are trying to see what others do in cases like this.

     

    Tammy M. Cline

    Assistant Director, Advancement Services

    West Point Association of Graduates

    698 Mills Road West Point, NY 10996  | 845.446.1540  |  WestPointAOG.org

     

    Serving West Point and the Long Gray Line

     

    CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender's written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.