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What's a Soft Credit?
Sometimes it's important to give someone credit for a donation even if they aren't the official/legal donor. 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 would never have happened if not for the employee's efforts. Another example would be if a board member raised money from a friend as part of her "give or get". 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.
When Do They Matter?
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.
When Don't They Matter?
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.