Does anyone have any experience entering a loan (to the org from a donor) that will be repaid into RENXT? I know not to enter it on the gift tab…but would you use Actions? Notes? How to easily access the info? Thanks!
Wait…is this even a gift? I would wonder if this needs to be entered at all? I'd really look and see, and possibly consult legal counsel. All financial contributions are not gifts. That's why having a gift acceptance committee is important.
I agree with @Dariel Dixon. Is this a gift? I think it would just be entered straight into accounting. You could note payments on actions/notes in RE but question how this is a gift.
You are correct, it is not a gift. It is accounting but my coworker would like the info in the RE donor record. I don't know where it would live besides Notes.
I think a note is the best place, or an annotation. It's an important piece of information, and it should be documented somewhere. Perhaps an action when the funds are received and when they are repaid. That might also give room to include the terms of the loan and the payment structure.
It's definitely not a gift and shouldn't be entered as one, or you're going to have reporting nightmares.
What is your colleague's role in the org? And what is their rationale for wanting this to be recorded in general - and wanting it specifically to be recorded as a gift? What does your colleague want to accomplish with this? I think identifying the goal and desired outcome will help you (or us) determine how best to acheive that goal in the system. If it is simply to know that it happened, I would add an action and possibly an annotation if this is an important enough thing that one needs to know at the top level when opening the record. I might even record as a constituent note vs. burying in an action so that it is more "top level". That is based on the assumption that your organization uses Constituent Notes to record significant background information about the donor that gift officers review before contacting the donor.
