Funds Overview

Funds can be created and managed in the Funds area of the system. Specific fund settings can be configured such as administrative fees, fund statement formats, and distributions.

Create, Customize, and Process Funds

Numerous fund setup options are available, and the selections you make are unique per fund. Existing funds can be copied to make a new one. Funds can be edited in bulk or one at a time and can be closed at any time providing the fund has a zero balance. Funds can contain a subfund that is set on a fund record and establishes a connection to a parent fund for reporting and fund statement purposes.

• Resources: 
  • Bulk Edit Funds
  • Close or Delete a Fund
  • Create Fund Groups, SubGroups, Divisions, and Segments
  • Create, Edit, and Copy a Fund
  • Edit Sort Order for Fund Groups, SubGroups, Divisions, or Segments
  • Fund Fields
  • Subfunds

Fund Settings and Restrictions

Voucher and grant approvers can be added to funds so that the voucher or grant can be approved before posting occurs. Adding a primary fund advisor to a fund allows for additional reporting fields to be available in the custom financial reporting area. Site Custom Content for funds allows you to add custom text and messages to specific fields. Funds are defined by a standard set of restrictions or types called Fund Restrictions, which are usually set up during your initial implementation. Funds with linked donors restrict the fund from having donations imported or pledges created.

• Resources:
  • Add Grant Approvers to a Fund
  • Add Voucher Approvers to a Fund
  • Charitable Gift Annuities and Trusts
  • Create and Edit Fund Beneficiaries
  • Designate a Primary Fund Advisor
  • Fund Restrictions
  • Funds Permissions
  • Funds Settings
  • Funds Site Custom Content
  • Interfund Transfer
  • Link and Unlink a Donor to a Fund

Fund Fees and Admin Fees

Fund Fee Types are a combination of fee types and apply fees, and they determine how fees will be assessed. Fund Fee Types define how your foundation charges admin fees to specific funds. Admin Fees are used to configure, manage, and process the various fees that your foundation charges to manage a fund.

• Resources:
  • Admin Fees Overview
  • Create and Edit Fund Fee Types
  • Exclude an Asset Account From Admin Fees
  • Fund Fee Types and Calculations

Distribution Types

Distribution types, sometimes known as spending policies, define how the spendable balance of an endowed or quasi-endowed fund is calculated. When a distribution interval is applied on funds, it does not limit when distributions can be calculated. However, it does limit when they can be posted.

• Resources:
  • Create, Edit, and Assign Distribution Types
  • Distribution Types
  • Process Distributions

Spendable Balance

If a fund is endowed, you can track its principal and spendable balance by checking the Endowed and Track Spendable boxes on a fund record. If a fund's spendable balance is not spent, it will remain in the spendable balance and will roll over to the next fiscal year. The spendable balance can be reset each year before processing the new distribution.

• Resources:
  • Clear Unspent Spendable Balance
  • Manually Adjust Unspent Spendable Balance
  • Spendable Balance

Fund Statements and Reporting

A fund summary report detailing transactions and activity can be found in Default Reports. The fund history page shows lifetime donation, grant, and scholarship activity of the fund. The Fund Balance report shows the total, the principal, and the spendable balance for specified funds. Fund statements can be created and generated to your advisors in bulk. They can also be generated manually. Templates for fund statements are available.

• Resources:
  • Create and Edit Statement Accounts
  • Create Fund Statement Format
  • Example Templates
  • Fund Balance Report
  • Fund History
  • Fund Summary Report
  • Funds Dashboard
  • Manual Fund Statement
  • Run and Distribute Fund Statements