|
FASB requirements call for each organization to have written policies on specific requirements, relative to activities, restrictions, and sizes of pledges that are tracked individually or by gift category. You will need to check your organization's policy to arrive at the amount to specify in this column. |
This column contains a dollar amount to which a pledge amount is compared and determines whether an individual's pledge is kept separate from pledges made by other donors and booked or if it is grouped by gift category with other pledges and booked. FASB is requiring that certain pledges (of a specific size) be tracked on an individual basis by the Business Office and be reported to the constituents of the organization on an individual basis and to FASB individually.
Any pledge that is below this amount but above the amount specified in the Lowest Limit for Booking any Open Pledges column will be grouped with other donor pledges and stored in the Transaction History table. Therefore, there is a group of pledges that can be booked by G/L number (by gift category) and tracked as one individual pledge, even though the pledge may be made up of many different people.
If the Method for Booking Pledge column is set to All, then this column should be blank. In other words, it is assumed that all pledges regardless of size are booked by individual.
