With all the fundraising events occurring across the globe, it sometimes become very difficult to keep track of the donations by the donors. Now, every donation involves a donor and a recipient in the transaction. A donor is someone who pledges to donate or donates a certain amount of money to an organization. The organization in this case becomes the recipient. However, there is no hard and fast rule that only individuals can donate in a fundraising event. An organization as a whole can also become a donor and this is prevalent in the event of corporate social responsibilities. Donation pledge management acts as a conduit between the donor and receiver.
From the perspective of recipients, keeping track of the donations is a hectic job. It requires careful investigation of different donations that has been received and the date when they received it. But, with the growth of automation and technology, this job can be outsourced to applications. The market is now flooded with these kinds of applications that not only keeps track of the donations but also provides the receiver with valid information regarding donation. Donation pledge management is one such application that is ergonomically designed to process pledges.
How donation pledge management helps
There is a basic difference between a donation and pledge while they both might seem to be same. Pledge can be considered as a subset of donation wherein the donor pledges to pay a certain amount of money over a specific period of time. For instance, a donor pledges to pay $3000 over a period of 5 years. So, the monthly donation will amount to $50. However, due to human errors, there might be faults like the recipient forgot the received payment and thus there is no entry in their ledger or the donor fails to donate the specified amount in certain months.
This is where donation pledge management system comes in handy that not only keep tracks of all the donations but also provide information about when and where the donor issued a cheque. The system also checks whether the donation is conditional or unconditional. One can retrieve all the information about the type od donation, the date and time of received donation, name of the donor, issue of the bank, reference ids, and all the necessary information about the transaction. So, having these systems installed with your organization can help you organize the donation and pledge data efficiently and effectively.