2224 Pledges: Past Due Balances

Pledge bills and resolving past due pledges: 

• Bills are generated by the Atlas System and sent to donors following a review by the appropriate development officer.  {Billing instructions are recorded on Atlas based on donor instructions from the pledge agreement.} 
• The Office of Gifts Accounting & Administration generates reports of outstanding past due pledges for development officers and senior business administrators to review. 
• Following the review of these past due pledges, development officers must make attempts to contact donors within in order to resolve the outstanding past due balance 
• The University will reserve against all past due pledge receivables 

Revising pledge agreements to resolve past due pledge issues: 

•  All new payment schedules must be in writing and signed by the donor 
• Development officers can not revise the anticipated fulfillment date of a pledge without the approval of the Vice President for Development and Alumni Relations 
  • Revisions are appropriate only if there has been a change in the donor’s financial circumstances or there exist other extenuating factors that preclude payment on the original schedule.  Such a pledge then becomes conditional 

• • All revisions require the approval of the Vice President for Development and Alumni Relations 
• Revision of pledge agreements for building projects or other restricted gifts of a time sensitive nature requires the approval of the school/center’s Business Administrator in addition to the Vice President for Development, prior to the execution of the revised pledge fulfillment schedule 
• If a payment schedule is revised for a pledge of $1 million or more, the development officer must notify the Vice President of Finance and Treasurer, in writing, of the new fulfillment terms 
• If a revised payment schedule for a pledge of $1 million includes a fulfillment period of more than five years, it must be approved by the Dean or Center Director, the Vice President for Development and Alumni Relations, and the President 
  • The Vice President for Finance and Treasurer should be informed of all such changes
  • Pledges in the amount of $25,000 and below which are past due five years or more are automatically written off by the Office of the Treasurer.