Pledge Reports

The ‘Pledge Reports’ feature in the Finance Management module of Retention CRM provides helps Associations, Chambers and Nonprofits in analyzing and tracking donations/membership payments promised in installments, rather than a one-time contribution. These reports help organizations understand their expected income flow and identify potential issues with pledges.

General Functionality of the ‘Pledge Reports’ Feature

Here’s a breakdown of the reports and their functionalities:

• Pledge Detail Report: This report offers a comprehensive view of individual pledges. It includes details like:
  • Amount pledged by the donor
  • Current status of the pledge (e.g., Paid In Full, Overdue)
  • Next payment due date
  • Outstanding balance on the pledge
  • Total amount paid towards the pledge
• Pledged But Not Paid Report: This report focuses on outstanding pledges. It lists pledges where the due date has passed, and the full amount is not yet received. This helps identify potential shortfalls and allows for timely follow-up with donors.

Using ‘Pledge Reports’ in Association Management

Let’s consider a scenario where a nursing association uses Pledges to manage donations from its members for a new educational program:

• Pledge Detail Report: The association can utilize the Pledge Detail Report to gain insights into individual member pledges. This allows them to:
  • Track the progress of each member’s pledge fulfillment.
  • Identify members who have completed their pledges and express gratitude.
  • Recognize top pledgers and potentially showcase their contributions in newsletters.
  • Monitor outstanding balances and identify members who may require gentle reminders.
• Pledged But Not Paid Report: This report helps the association proactively manage outstanding pledges. They can:
  • Generate the report to view a list of members with overdue installments.
  • Contact these members to understand any difficulties they might face in fulfilling their pledges.
  • Offer alternative payment arrangements or flexible scheduling if needed.
  • Identify pledges at risk of default and take appropriate action.

By effectively utilizing Pledge Reports, the nursing association can:

• Improve cash flow predictability: Knowing the expected income from pledges helps the association plan program expenses more effectively.
• Strengthen member relationships: Following up on pledges demonstrates the association’s appreciation for member contributions and fosters stronger relationships.
• Identify potential issues: Early detection of overdue payments allows for timely intervention and potentially salvages pledges.

Additional Notes on New Pledge Feature

While the prompt didn’t specify details on creating new pledges, it’s important to note that Pledges allows for setting up various options for creating new pledges:

• Total Pledge Amount: Define the total amount a member commits to donate.
• To be Paid In: Specify the number of installments and the time-frame for completing the pledge (e.g., monthly installments over a year).
• Payments Due On: Choose the specific day within the installment cycle when payments are expected (e.g., 1st of every month).
• Pledge Made: Set the date the pledge is recorded in the system.
• Payments Start: Determine the date when scheduled installments begin.
• Send Acknowledgment: Option to send an email notification to the member confirming their pledge details.

More Use Cases for Associations

1. Tracking Pledge Fulfillment

• Description: Associations rely on pledges to predict future income and plan their budgets. Pledge reports help track the progress of these pledges, allowing the association to see how much has been received so far against the total pledged amount.
• Use Case: An association can generate a report that shows all outstanding pledges, categorized by member, pledge amount, and the remaining balance. This allows them to identify members who are behind on their pledges and target outreach efforts accordingly.

2. Analyzing Fundraising Campaign Performance

• Description: Pledge reports can be used to assess the effectiveness of specific fundraising campaigns. By segmenting reports by campaign, associations can see how much was pledged during the campaign period and compare it to the campaign goals.
• Use Case: An association might run a report for their annual scholarship fundraising campaign. This report could show the total amount pledged by new donors versus returning donors, allowing them to evaluate the campaign’s reach and effectiveness for different donor segments.

3. Forecasting Future Cash Flow:

• Description: Pledge reports are essential for creating accurate financial forecasts. By analyzing the expected timeline for pledge payments, associations can estimate future cash flow and make informed decisions about budgeting and resource allocation.
• Use Case: An association can generate a report that shows the projected income from pledges over the next quarter. This information can be used to plan for upcoming expenses and ensure sufficient resources are available for programs and services.

By using these options effectively, Associations, Chambers of Commerce and Nonprofit organizations can create clear and well-defined pledge agreements with its members, donors and supporters, leading to a more streamlined and transparent fundraising process.