Pledge with contributions from IRA

Sometimes you will have members who will make a pledge, however, they will want to pay all or some of their pledge with a non-tax-deductible IRA contribution. What is the best practice in this scenario?

Resolution

  1. Create a new fund for the Non-Tax Deductible Payment. If you already have a specific fund that correlates to this pledge, you may want to call it something similar (ex. 2019 Pledge Non-Tax). 
    • Navigate to "More > Contributions > Funds."
    • Click "Create New Fund" in the upper right corner.
  2. Group the "Pledge" Funds together, this will allow you to see the total of both the tax-deductible and non-tax-deductible fund, together, quickly when running reports! 
    • Navigate to "More > Contributions > Funds."
    • Click the drop-down arrow to the right of the "Create New Fund" button and select "Create New Folder."
    • Give the folder a name and click "Create Group."
    • You can now hover over the name of other funds (or groups) and drag them into the group.
  3. Update the Persons Pledge
    • Navigate to "More > Contributions > Pledge."
    • Select the campaign you'd like to edit a pledge in.
    • Click the pencil icon on the right of the pledge you'd like to modify.
    • Add this new Fund as an option to work the pledge down for this individual and click the "Update Pledge" button to save your changes. 

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Additional Information

How does this affect Giving Statements? You will want to make sure to include a non-tax deductible mail merge when Customizing Statements for those who gave this way. You can either do this for all statements or put these select people into a group and print their statements separately. They will more than likely want acknowledgment of their donation and including the Non-Tax Deductible Mail merge field can take care of this. 

 

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