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9 votesProposed Idea · 2 comments · CommunitySuite Idea Lab » Donations/Pledges/Promises/Public Securities · Admin →
An error occurred while saving the comment Catherine Kiesel supported this idea ·
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6 votes
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7 votes
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224 votes
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21 votes
This is such a great idea. Pledges are expected in the near term and have a higher certainty of collection, whereas bequests are subject to the donor's lifetime decisions and the probate process. These are two very different donation streams. Having a separate bequest section would help split these out on financial statements (instead of having to manually do so) as splitting them out helps provide greater transparency to financial statement users (like donors), allowing them to better understand the nature and risk of each type of contribution. This also helps better streamline FASB standards for treatment and disclosure of distinct revenue types.