Apr 19, 2018  
Policies 
    
Policies

College Advancement


Foundation Collection Policy
10:02:06 Foundation Collection Policy

 

COLLECTION POLICY
ADOPTED BY THE
CHATTANOOGA STATE COMMUNITY COLLEGE FOUNDATION

  1. A collection committee composed of three members from the Chattanooga State Foundation Board should be appointed to review pledges that become more than 60 days delinquent.
    1. A tickler system should be initiated.
    2. Pledge cards, letters of intent, and one copy of the transmittals should be kept in a safety deposit box in case of theft, fire or vandalism.
  2. Reminders for payment should be sent the 20th of each month.
    1. The tickler notice is then put on the next month's business. If a payment is received, the tickler notice is removed and placed on the next payment date.
    2. If payment is not received within 30 days, a second reminder is sent on the 20th of the next month. If payment is then received, the tickler notice is placed on the next payment date.
    3. If payment is not received within 30 days after the second notice has been sent, the delinquent pledge is turned over to the collection committee for action.
    4. The committee should decide whether to contact the donor directly or to contact the campaign solicitor and have him contact the donor as to what the problem is. The contact should be made in a friendly, helpful manner. The donor should be asked the following questions:
      1. Are the terms ashe wished?
      2. 2Would other terms be more convenient? and
      3. Is something bothering him that the Chattanooga State Foundation can correct?
    5. The individual approaching the donor should have the authority to change or extend the terms of payment, reduce the amount of the pledge or, only as a last resort, cancel the pledge. Tactful handling of these commitments will help to make and to keep friends, which has always been the original objective. Additionally, some donors who change or cancel pledges reinstate them at a later date if the problem has been handled tactfully.
    6. As a practical matter, the Foundation will not sue to collect on pledges not paid.

Approved: Executive Staff, 05/20/09
Approved: President's Cabinet, 05/20/09
Approved: President, 05/20/09
Reviewed and Revised by: Development, February 2009