Wijnen, Bert (Bert) wrote:
I am not a real accountant and kind of simple-minded.
So when you say:
"Lynn" == Lynn St Amour <st(_dot_)amour(_at_)isoc(_dot_)org> writes:
Lynn> over 80% of ISOC's org. members donate less than $10K
Lynn> annually and managing these in a 'restricted accounting
Lynn> manner' requires more effort and overhead. Also,
Lynn> organizations/donors expect recognition appropriate to their
Lynn> contribution and that implies differing levels of value and
Lynn> distinction.
I then wonder....
- if there is s separate or special bank account for IASA/ETF
- if I can just deposit my donation into that bank account
- What then is the "more effort and overhead" ??
I just do not understand.
Bert, I'm sure Lynn will answer this too, but from when the ISOC was
discussing accounting practices for individual member subscriptions
and donations, I remember that the bank account aspect is the least
of the worries (and anyway, we already reached consensus not to
have a separate bank account). The issue is that accounting entries
have to be made in a very specific way for money which is tied to
a specific purpose, and while that is a small overhead if someone
donates $100k, it becomes a significant overhead if 100 people
donate $1k. It can end up eating money for accounting actions
that really serve no useful purpose but have to be done to follow
thr accounting rules. So I think Lynn is correct and we have to
give ISOC the necessary flexibility.
Brian
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