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Recording matching gifts

  • 1.  Recording matching gifts

    Posted 15 days ago
    Good afternoon all,

    I am not quite seeing the answer to my question in the archives and I am turning to you for assistance regarding the recording of corporate matching gifts to a donor's record and that date that you use.

    We define Date of Record as the date the transaction was made and Date of Receipt as the date the funds were received.  We receive our matching gift report from Benevity approximately 30 days after the gift was submitted and approved and two-weeks before we receive the funds. 

    Example: a gift on the June 12 report reads....
    Donation date: May 21, 2020, and we received the funds on July 1, 2020.

    Currently, we record the date we receive the funds as the date of record and receipt.  Would it make sense to record the Donation Date on the report as the Date of Record and the day the funds are received as the Date of Receipt?  

    It seems that would be more in line with donor intent.

    Many thanks,

    Cindy

    ------------------------------
    Cindy LaVarra
    Sr. Director of Development Operations
    The College Foundation of UVA
    cindy@virginia.edu
    ------------------------------


  • 2.  RE: Recording matching gifts

    Posted 15 days ago
    I do not see a benefit in using any date other than the date you could use the gift.  So, your current "date of record" seems proper.

    When Benevity, or any other third-party, received or processed the funds does not have any significant effect on you - or the original donor for that matter.  They legally made their gift to Benevity weeks ago - and have already received a receipt from them.  More to the point, you won't be receipting these donors anyway.  So they won't know how long Benevity held the funds before sending them to you. Unless, of course, you want to make a point of showing the original donor not only how long it took for their gift to get to you, but that Benevity took a piece of your pie!  And since you did not have any opportunity to use the gift any earlier than when you received it, noting that the money was "yours" on a date before it was in your possession does not feel right.

    I know that some VPs might want you to use an earlier date - mostly to beef up the prior fiscal year numbers.  But that does not feel right, either.  Especially when the legal donor, in this case, isn't the individual anyway but a third-party.

    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: Recording matching gifts

    Posted 15 days ago

    John,

     

    A board member made a gift on May 21 that was eligible and approved for a matching gift.  The mg did not arrive until July 1 and will be processed for FY21. That was not his intent and he wanted the credit for FY20.

     

    This made us look at how we are recording matching gifts and if we should be recording them differently.

     

    Many thanks,

     

    Cindy

     



    ------------------------------
    Cindy LaVarra
    Sr. Director of Development Operations
    The College Foundation of UVA
    cindy@virginia.edu
    ------------------------------



  • 4.  RE: Recording matching gifts

    Posted 15 days ago
    But you didn't get the money in FY20.  Donor intent or otherwise.

    You can certainly add them manually to your donor roll if you want to.  But if a donor intends to give you money in time to spend it in the year it is needed, then they need to send the money sooner.  They probably also "intended" to send you the amount they pledged.  But Benevity didn't send you the full amount.  That's another discussion you need to have!

    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