Re: Cash gifts to community? | <– Date –> <– Thread –> |
From: Sharon Villines (sharonsharonvillines.com) | |
Date: Tue, 29 Dec 2020 12:40:21 -0800 (PST) |
> On Dec 27, 2020, at 1:29 PM, Lyn Deardorff <lynpeachtree [at] outlook.com> > wrote: > > 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. We have always accepted cash gifts and they are donated in different ways: 1. By paying for some service that we need — a worker to put the new slings on the piazza chairs, the person who cleaned the toilets for years also ordered and paid for the toilet paper, people donated to fence in the SE corner, for new gym equipment, etc. No one has ever donated money for something we haven’t already expressed some interest in. 2. Donating with a preferred but not restricted use when they sold their unit — for the guest room refurbishing, solar energy. Because we have an active resale and rental pod, this has become a significant resource, a much larger fund than we have ever had. 3. Cash donations for a celebration like an anniversary party. Sometimes people would like a catered dinner or something more festive than others are willing to use the operating budget for. Others do not want to start charging for tickets to attend. People donate whatever amount they wish, usually gauged to their desire to have a small or large party. The party is then fit to the amount donated. Except for the donations for current events or products, the funds are held in the Capital Reserve account. We recently renamed this the Special Projects Fund so it can be used for a wider range of things — like paying the lawyer to review our revised bylaws above the operating budget for legal fees., other purchases or upgrades that might not technically add to the capital value of the property. Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
- Re: Cash gifts to community?, (continued)
- Re: Cash gifts to community? Sharon Villines, January 4 2021
- Re: Cash gifts to community? Lyn Deardorff, December 29 2020
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Re: Cash gifts to community? Elizabeth Magill, December 29 2020
- Re: Cash gifts to community? Ann Zabaldo, December 29 2020
- Re: Cash gifts to community? Sharon Villines, December 29 2020
- Re: Cash gifts to community? Lyn Deardorff, December 29 2020
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