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How do you book pledges that the donor has cancelled?

JUDY BROWN's Profile

We had a capital campaign drive. Employee who pledged an amount has resigned and rescinded their pledge.

Answers

JUDY BROWN
Title: Chief Financial Officer
Company: Regional Youth Services, Inc. dba FAMILY..
(Chief Financial Officer, Regional Youth Services, Inc. dba FAMILY ARK) |
Randy Moore
Title: CFO
Company: SJB Bagel Makers
(CFO, SJB Bagel Makers) |

How was the pledge booked?

Barry Giaquinto
Title: Chief Financial Officer
Company: Society of St. Vincent de Paul
(Chief Financial Officer, Society of St. Vincent de Paul) |

Judy, You'll have to write it off as a bad debt and then decrease your pledge receivable. If it was a multi-year gift, be careful to check it was booked allowing for the present-value discount.

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