There can be many people who would like to donate money. There are many people who are affected and are in need of money periodically. Donation pledges are those kinds of pledges where someone promises to pay some money over a previously set period of time. It is done for various reasons to make sure the person who gets the donation is really benefitted by it. So a pledge here is a debt that has to be paid by the person who donates money to the person who needs the money. These are very keenly maintained and recorded properly.
The types of donation pledges
There are basically 2 types of donation pledges. They are listed below.
- Conditional pledge: This is when there is a particular condition or a set of conditions that have to be met to get the particular donation. For example, say someone is donating for the education of someone who needs it. They can say that you get the donation only if you to score more than 90%. This means that in case you get less than 90%, you will not get the donation by any chance.
- Unconditional pledge: This is when there are no conditions that have to be met to get the donation. Here, the example is that the person donating can just get the donation for the education irrespective of the mark he or she gets. This is when you get the donation as per the condition of the donation pledges irrespective of what happens.
There is also another type called the recurring donation. This has a difference from donation pledges in one way. This can be imagined like a series of the gifts given and are usually the same amount every time. There is no time period over which this is paid. It is just an amount given by the donor every month.
Donation pledges are usually given by the rich people to the people who need it. It is usually used for the purpose of education. It is usually properly planned and agreed. There is also an expiration date for these pledges and it is very easy to keep a track of it. These kinds of pledges have helped a lot of people live a much better life. This has helped people get very good access to education and also access to a better life. This gives an assurance that the money will come to the person who requires it just on time as per the condition.