FundSvcs Community

 View Only
Expand all | Collapse all

Fund Purpose Definitions

  • 1.  Fund Purpose Definitions

    Posted 24 days ago
    Hello! We are currently revisiting our purpose codes for our funds to see how it compares to other peer organizations. Can anyone out there share with us the purpose codes with definitions and how do you define things such as Instruction vs. Research, Fellowships vs. Student Support? Does anyone break it down further, e.g.: Student aid-Scholarships, fellowships, awards, grants Faculty & staff compensation-Faculty/staff awards, chairs/professorships. 

    If anyone has a policy or template on how you determine purpose codes, that would be really helpful for us. Thanks in advance for your input! 


    ------------------------------
    Gizel Avina
    Assoc. Director of Alumni Relations & Development
    Claremont Graduate University
    gizel.avina@cgu.edu
    ------------------------------


  • 2.  RE: Fund Purpose Definitions

    Posted 24 days ago
    Have you looked at the definitions CASE provides for these for purposes of completing the VSE?  At the least, you will want to be consistent with their definitions for VSE reporting purposes.

    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






  • 3.  RE: Fund Purpose Definitions

    Posted 24 days ago
    Great, I didn't think of that! I will look into their definitions for VSE reporting purposes.

    Thank you!

    ------------------------------
    Gizel Avina
    Assoc. Director of Alumni Relations & Development
    Claremont Graduate University
    gizel.avina@cgu.edu
    ------------------------------



  • 4.  RE: Fund Purpose Definitions

    Posted 24 days ago
    Hi, Gizel!

    This should help...

    Here are the standardized VSE codes to categorize the giving into the grid/chart used to complete the annual VSE survey.

    ACADN - Academic Divisions, current operations (code 2)
    ACACY - Academic Divisions, endowment (code 22)
    ENDOW – Endowment and similar funds, unrestricted (meaning, unrestricted endowment, not current operations unrestricted) (code 21)
    FACUN - Faculty/staff compensation, current operations (code 3)
    FACUY – Faculty/staff compensation, endowment (code 23)
    LIBRN – Library, current operations (code 6)
    LIBRY – Library, endowment (code 26)
    LOANY – Loan funds, endowed (code 32)
    OPERN – Operations and maintenance of physical plant, current operations (code 7)
    OPERY – Operations and maintenance of physical plant, endowment (code 27)
    OTHRN – Other restricted, current operations ( should be code 9, see ***)
    OTHRY – Other restricted, capital only ( should be code 29, see ***)
    PRPRT – Property, buildings and equipment, capital only (code 20)
    PUBLN – Public service and extension, current operations (code 5)
    PUBLY – Public service and extension, endowment (code 25)
    RESRN – Research, current operations (code 4)
    RESRY – Research, endowment (code 24)
    STUFN – Student financial aid, current operations, i.e. Honors Day, etc. (code 8)
    STUFY – Student financial aid, endowment, i.e. endowed scholarships (code 28)
    UNREN – Unrestricted, current operations, i.e. Annual Fund (code 1)

    In 1999-2000, there were 4 new codes added which pertain to athletics and they are...
    ATHLN – Athletics, Intercollegiate, current operations (code 10)
    ATHLY – Athletics, Intercollegiate, endowment (code 30)
    ATHIN – Athletics, Intramural, current operations (code 11)
    ATHIY – Athletics, Intramural, endowment (code 31)

    *** If you happen to use Ellucian Banner Advancement as your database software, there was an error in Banner seed data perpetuated in their system over the years and caused some incorrect coding. The validation table can not be changed via Banner (produces an error message), but the codes need flip-flopped for OTHRN and OTHRY... OTHRY should be the one for capital purposes, i.e. numerical assignment of 29, whereas, the OTHRN is for current operations and have a numerical assignment of 9. (Note: It will be important to manually review any designation currently coded for these two to ensure they are correctly in the Banner system, before converting this data to another CRM.)

    Hope this helps. Sorry for the sometimes very specific comments, but figured I would leave them in--they may or may not pertain to you. 

    Please let me know if you have any questions.

    Dave

    --
    David Smittle
    Senior Consultant
    Advancement Specialist
    Strata Information Group (SIG)
    419-230-8147
    smittle@sigcorp.com






  • 5.  RE: Fund Purpose Definitions

    Posted 24 days ago
    Thank you David! This is also very helpful as well! 

    We are currently transitioning databases (Slate) right now so we wanted to update our codes and make sure they are aligned to our current funds. Big learning curve!

    ------------------------------
    Gizel Avina
    Assoc. Director of Alumni Relations & Development
    Claremont Graduate University
    gizel.avina@cgu.edu
    ------------------------------



  • 6.  RE: Fund Purpose Definitions

    Posted 15 days ago
    Is this the most recent list, after their updated Global Reporting Standards? (we call it the Blue Bible)

    ------------------------------
    Cameron Alzubi
    Director, Gift Administration
    Illinois Institute of Technology
    calzubi@iit.edu
    giftadmin@iit.edu
    ------------------------------