ASSOCIATED CREDIT Definition

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ASSOCIATED CREDIT is where a charitable or a not for profit entity (a university for example) may acknowledge the efforts of persons, other than the legal donor(s), who were instrumental in facilitating or providing for a gift by providing 'soft' (or associated) credit for gifts. Associated credit allows the entity to acknowledge these efforts without compromising the entity's legal obligation to record the gift according to IRS regulations. Associated credit is given for donor recognition purposes, allowing their names to be listed in publications such as the "Report to Contributors" and other donor recognition publications. For example an individual may write a corporate gift to a university, i.e. the individual would get the associated credit. Also known as SOFT CREDIT.

Learn new Accounting Terms

BILL OF SALE is a written statement attesting to the transfer (sale) of goods, possessions, or a business to a buyer.

OPERATING TRANSFER specifically identifies the transfer of resources from one fund/account to another made to support the normal level of operations of the receiving fund/account.

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