The Received field refers to money that you have received from a donor and is the most common field option in Queries and Reports. Only payments already made count towards received amounts. Pledges and pending payments are not included in money received. This means the following journal entry types:
  •     Gifts
  •     Recurring Gifts
  •     Pledge Payments

The Gifted field refers to money collected through regular donations, excluding pledges. This means the following journal entry types:
  •     Gifts
  •     Recurring Gifts

The Raised field refers to any money that you have raised as a commitment, received or not, towards a donation. It includes pledges as well as gifts that you have already received any money raised. Raised does not include Pledge Payments, even though they are Received, because it includes the Pledges and that would be double counting. This means the following journal entry types:
  •     Gifts
  •     Recurring Gifts
  •     Pledges
Received amounts can be higher than Raised if you are using a date range in your query. The pledge might be outside your date range, but the pledge payments are within the range. This would cause the Received to be higher than the Raised amounts.