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
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- 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.