Currently we have multiple "accounts" set up for one fund and we would love to simplify.
Fund Name – Capital Fund
We have multiple accounts set up for this
· Board Designated
Finance has assigned numbers to each of the above to help report on which creates more work on our end.
Wondering if anyone is willing to share how their funds are set up?
Thanks in advance!
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You are correct J
Here is an example of a report that our Finance Department provides us with our fund detail:
0121 is the fund number
000,040,041,071,050 is a component of the GL # which informs Finance of the "restriction"
Here is what the GL code would look like
50000 Revenue GL Code
'00 Is the department (Annual Giving, Major Giving, Planned Giving, etc...)
'000 The "restrictions" above (Unrestricted, restricted, endowment, etc)
'0000 Is the fund number
Clear as mud!
This all started because of the archaic system Finance used to have, but currently they are using Great Plains (which they have been on for at least 5 years)
We in the Foundation are using Raisers Edge and have been on it for almost 4 years. So we may have 4 iterations of a fund in our fundraising database to match all the various categories above.
Hope this helps clarify a little? I would be more than happy to set up a call if you would like – That is very kind of you to offer.
Thank you so much for your time on this!
Thomas A. ChavesSaint Joseph's UniversityAssociate Vice President for Advancement Operationsp/610-660-1255; c/610-316-6541
At my prior institution (higher ed), our funds numbers/names mapped to what Finance had, and new funds were added when Finance created them (we also requested new ones as needed) and old ones that were being phased out were inactivated in our RE db. The inactivation vs. deletion of old funds ensured we retained history. In some cases, to keep the # of funds down, extremely old fund numbers with no activity for a specified time (I think it was 5 years) were repurposed and made available for new purposes. The fund name was also changed to align with the more current purpose.
The overwhelming majority of our funds were restricted –scholarships, endowments, program or department funds or initiative-specific. And we had a specific fund set up for our board-related annual support. It made reporting out so much easier.
ROBIN L. ONSA
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Hi, Robin. Can you expand on, "we had a specific fund set up for our board-related annual support. It made reporting out so much easier."?
Gifts from board members that were consider annual gifts where put into a separate fund? Was the fund unrestricted or restricted? Was there ever a time when a board member did not want to give to the board designated fund and how did you manage this?
I should have been more specific. Annual Board dues were placed into a specific fund – a restricted fund. Other gifts throughout the year from board members were applied to whatever fund/program/ etc. they deemed or was part of the appeal/outreach to which they responded. For their board dues, we would book pledges at the beginning of each new FY and send quarterly reminders. I'm remembering that about 85% paid off those pledges by the end of the fiscal.
Yes, there were some board members who wanted their annual 'dues' to go to another effort. I want to say that was accommodated some years back but gently discouraged in more recent years. I'm remembering there was a long-time board member who had that arrangement when other campus administration had been in place.
We are in the process of auditing all or our funds and making sure they are set up for easy reporting.
We use RE and FE.
The Funds are connected to the different units at the college. We are not using campaign yet so that is blank. If we want to pull all the gifts from the Board members we use the constituent code on the donors record. If we are looking for all gift from individuals giving to a department (which is an attribute on the fund) we would use the constituent code on the donors records to pull in all the individuals, and then the attribute on the fund that would let you know what planning unit or department they gave to.
Because we use FE we have to have a different fund or project (what it is called in FE) for each designation.
If we are trying to keep up with cash in the door and pledges we do that with the gift type.
I am not sure if this is any help or if you are using a different system. If you have more questions I would be happy to see if I can answer them my contact information if below.
Gift Processing Specialist