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Funds for Different Departments?

  • 1.  Funds for Different Departments?

    Posted 16 days ago
    Hello! We have a potential donor who wants to make a gift to support one of our academic departments. We do not have a fund set up for this particular department but do have funds set up for others, not all. Accounting suggests we encourage the donor to support the Annual Fund instead since that supports all academic programming. 

    Do any of you have funds set up for every department and allow gifts to all of these or do you encourage Annual Fund support only? It just seems odd that we accept gifts to one department without question but are pushing those interested in supporting another department to the Annual Fund. We were encouraged to ask what others do before moving forward with a change recommendation. Thank you for your insight!

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    Becca Paylor
    Assistant Vice President, Advancement Services
    Wingate University
    r.paylor@wingate.edu
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  • 2.  RE: Funds for Different Departments?

    Posted 16 days ago
      |   view attached
    I set up funds for any department a donors wishes to support!!!!!

    Accounting needs to take a deep breath.  The general fund is not going to satisfy your donor's desires or intentions.  They want their gift to go to that department - not "all academic programming."

    I do not advocate for creating new funds for every donor request that is a bit unique.  However, I am very much a fan of Dean/Department discretionary funds that get the gift close to where a donor wants it.  And then I place accountability measures on those departments to ensure the gifts are spent according to donor wishes.

    Yet, it does take a bit of effort to establish these funds and manage the accounts.  So, from that perspective, I am in Accounting's camp of not wanting to create funds willy-nilly.  Normally, there are funding minimums for creating a new account.  But, again, a single general-purpose department discretionary account can be used time and again for many purposes.

    The attached paper I prepared within the last couple of years might prove useful.

    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




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