Why does Modest Needs use points instead of dollars when displaying the cost of an application?
We calculate the cost of applications (and the value of donor contributions) in ‘points’ rather than dollars in order to keep our online record of donor contributions to Modest Needs accurate at all times. Modest Needs’ online system keeps a running record of the contributions donors have made all year so that, at year’s end, donors can print their tax receipts on their own. This system works perfectly – unless we have a matching grant in place. If we were to use dollars rather than ‘points’ in calculating the values of contributions and applications at Modest Needs, then in order for our system to know how much a donor could ‘spend’ whenever we had a matching grant in place, we’d have to temporarily credit each donor account with double the dollar value of each match-eligible contribution. Then, at tax time, prior to issuing tax receipts to donors, we’d have to go through each donor account and calculate how much a donor actually contributed to Modest Needs vs. how many of the contrib
Related Questions
- Suppose I invest some of my Modest Needs points in an application that ultimately cannot be funded by Modest Needs. What happens to the points Ive invested in that request for help?
- From start to finish, how long does it take for a new application to undergo Modest Needs complete evaluation process?
- How does Modest Needs calculate the number of points an application needs in order to be funded?
