Soft Credits in MonkeyPod allow your organization to track fundraising referrals and matching gifts which means that you can easily identify those fundraising heroes.
What is a Soft Credit in my MonkeyPod?
At times it may be important to give someone credit for a donation although they are not the official or legal donor of record. Perhaps the most common example is a matching gift from a donor's employer. The employer is the official donor of record but the gift is a result of the employee's efforts, so your organization would want to reflect that through a soft credit.
Another example would be if a board member raised money from a friend as part of her "give or get" campaign. The friend is the donor, but the gift would not have happened without the board member, so you want that to be noted in your records.
Soft credits solve this problem. Any time you're recording a gift (i.e. a donation, pledge, or grant) in MonkeyPod, you can optionally attach a soft credit to the transaction.
What makes a soft credit useful in my MonkeyPod?
Soft credits are important for fundraising and donor stewardship purposes. They are tracked in the person's record and count toward their historical giving totals. This is very helpful for seeing which people are impacting your organization the most, both through their personal effort and any matching contributions.
Why is the soft credit optional?
Soft credits are not relevant from a legal or accounting standpoint. The official donor of record is the only person who matters for bookkeeping, financial reporting, and tax reporting purposes.
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