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Charitable Fund for a business

  • 1.  Charitable Fund for a business

    Posted 22 days ago
    Hello,

    I'm sure many of you will do a facepalm when I ask this question so offering an advanced warning not to do it too hard.

    We just received a check from 'Business Name Charitable Fund'. We have a record for 'Business Name' I was in a discussion about where the check should be applied. 

    I thought that we'd need to create a record for the 'Business Name Charitable Fund', assign 'Bus/Corp' constituency and connect it to the Business record. My colleague said we can just apply the check to the Business Record. 

    Which route should we be doing? I guess I was looking at it similar if a business had a foundation.

    Thanks for breaking this down for us.

    Lara

    ------------------------------
    Lara Couture
    Director of Advancement Services
    Carroll University
    lcouture@carrollu.edu
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  • 2.  RE: Charitable Fund for a business

    Posted 22 days ago
    Unless you have reason to believe this is a DAF (and you can always call them to find out), this is more likely just the name of the account within the business and not a separate legal entity.  But do call them to verify if there's any doubt.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987