Re: Cash gifts to community?
From: Diana Carroll (dianaecarrollgmail.com)
Date: Tue, 29 Dec 2020 10:11:45 -0800 (PST)
Are you looking for technical accounting advice or policy advice? From a
technical perspective, it depends on how you have your books set up. If I
were implementing this, I would create two long term liability accounts
(with appropriate names like "restricted use fund" and "unrestricted use
fund". When depositing the checks, assign to the appropriate liability
account. (This is how we have our reserve funds set up.)

Can't offer anything with regard to how to policies.

Diana

On Tue, Dec 29, 2020 at 12:17 PM Lyn Deardorff <lynpeachtree [at] outlook.com>
wrote:

> Hello all,
> Wondering how you all have handled accounting and guidelines for using
> cash gifts to the community.  We have received two significant ones in the
> last two years - one restricted and one unrestricted.  We would like to
> establish guidelines for use for this one and future unrestricted gifts.
> Isn't this a nice problem to have?  Please send any suggestions, past or
> best practices you have.
>
> Thanks!  And Happy New Year!
> Lyn Deardorff
> Sand River Co-Housing
> Santa Fe, New Mexico
> lynpeachtree [at] hotmail.com
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