Tracking Stewardship Endowments / Pledges

Stewardship endowments or other endowment pledges are a common aspect of acquiring a property.  Tracking whether they have been paid out or not after the acquisition of an easement or fee land is complete can be difficult.  Luckily, funding sources and agreements are excellent tools for tracking this data.

 

Step 1) Create a new funding source called 'Stewardship Endowment' (or something similar), and a new Agreement for each endowment pledge.

You will use the same funding source to track all similar endowments, but a separate agreement for every different pledge.  By using agreements, you'll be able to see at a glance which pledges are still active, as well as how much has been disbursed.  Since this funding source will be shared for many different contacts, we will not use the 'contacts' feature of the funding source.

 

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The individual agreements can hold a lot of information about the endowment pledges:

 

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Step 2: Create an 'Endowment Pledge' Asset item.

From the correct property record, create a new asset. By default, your account should have the 'Endowment Pledge' asset type available. If not, you'll need to create this asset type in settings:

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The endowment pledge asset can capture more information, however you probably already captured most of what you need from the agreement details.  The asset will allow you to track the actual disbursal of the agreement money towards the property.  Add an expense that is equal to the amount of the agreement. You may need to add a new cost category to meet your needs -- here I've added the expense under the category of 'endowment'.

 

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To make a new funding disbursal record, click on the mceclip5.png button next to 'expenses'. Choose the correct funding source and agreement, and enter the amount that was disbursed.  In the example below, the agreement calls for two installments, so although the agreement is for $10,000, the amount of the disbursal we received is only equal to $5,000.  We can create another disbursal when we receive the next payment.

 

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Here is what the asset record looks like now:

 

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If you want to highlight the funding source and agreement from within the asset but haven't yet received a disbursal, then you can create a new funding entry but remove the 'received on' date.

Once you have received the entire amount, you can update the asset status to 'completed'.  You'll also want to navigate to the funding agreement and mark it as 'inactive'.

 

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Viewing All of Your Endowment Information

 

The funding source page and component agreement pages will display nice breakdowns of active/inactive agreements and disbursals:

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Agreement page:

 

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You can also create a view to display the information you need.  The view that you use will depend on the data that you need to retrieve.  You can work with a funding source, agreement, or disbursal view, or make a property asset view, where 'Type' = Endowment Pledge.  

 

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Tracking Endowment Pledges in Projects

The endowment can be budgeted for by adding the correct cost category and anticipated amount. Since you're tracking the pledge as a source and agreement, you can add both to the expected funding.  When you're done, add the endowment pledge as completed work to track the disbursal and expense.

 

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