Gift Pledge
Gifts with a promise to give at a future date are recorded in accordance with Governmental Accounting Standards Board, Statement No. 33 (GASB33) as Pledge receivables. Provided that the Pledges are verifiable and the resources are measurable and probable of collection, Gift Pledges are reported as follows:
Revenues and receviables should be recognized (net of estimated uncollectible amounts) when all eligibility requirements have been met or when resources are received, whichever comes first.
https://www.umsystem.edu/ums/policies/finance/gifts