Configuration: Funds (Required)

PLEASE NOTE: This video shows the old main menu. Just navigate to the indicated pages using the new main menu and the rest of the steps are the same.

Gifts: Configuration: Funds

1. This tutorial will cover how to configure funds.
2. Funds are how your fundraising hat (compared to your fiscal/accounting hat) thinks about your donations. Funds are used to delineate unrestricted/operating funds from other types of money (money that, perhaps, needs to go into a difference bank account such as capital funds, scholarship funds, stipends, etc.) OR money that has different ask levels (for example your general annual appeal ask levels might be $50/$100/$250/$500 but your event sponosorship levels might be $500/$750/$1500/$5000) OR money that different tax deductibility rules (for example, sponsorships are generally not 100% tax deductible compared to unrestricted, general donations).
3. This tutorial explains further how to use funds and how funds differ from/work with programs and campaigns to track your donations.
4. Funds are NOT the same as general ledger codes/chart of accounts. Funds simply means "general donation" or special donation.
5. You must configure at least fund - this is a required field when entering donations into the system. Many clients only ever have one fund - General. The second most common fund created is for Event Sponsorships. Many clients only have one or two funds.
6. To configure funds, start by selecting Fundraising on the Main Menu to open the Fundraising sub-menu and then select Funds under Configurations.

   

7. This will take you to the Funds index screen where you will see a list of your current configured funds.

   

8. You can sort the configured fund by Name in ascending or descending order. You can also search funds by typing in the name of the fund on the search bar.

   

   

9. To edit an existing fund, click on the Edit button to the right of the appropriate entry.

   

10. To delete a fund, click on the drop-down to the right of the Edit button and click on Delete.

    Please Note: You can only delete a fund if it is not tied to any donation transactions. If you are able to delete the fund, you will see a pop up box asking you to confirm the deletion and then a green validation message confirming the fund was deleted.

    

    

11. To create a new fund, click on the Add New Fund button in the lower right.

    

12. There are two tabs on Add/Edit Fund.

13. On Tab 1: Funds, provide a unique code (for internal use only) for this fund and a clear descriptive name of what the fund is, in the Code and Name fields respectively.

    

14. Next, if the Fund is no longer active or only applies to donations received during a particular time period, enter an End Date. This is an optional field and can be left blank.

    

15. If there is a minimum donation amount required for this Fund, enter it in the Minimum Donation Amount field.

    

16. If this fund is to be considered for Recency, Frequency and Amount Group calculations, mark the “Enable RFA Calculation” slider (Recency, Frequency, and Amount Groups are a way of grouping your donors based on their past giving history. There may be times when you want donations to a particular fund excluded from these calculations. For example, you may want to exclude Sponsorship Donations from calculations of past giving history, as sponsorships tend to be higher donation amounts due to the tangible benefits received and often come out of a different pot of the donor's money than a general donation. For more information on configuring Recency, Frequency, and Amount groups, see this tutorial).

    

17. If you wish all transactions processed through this fund to be linked to a particular Chart of Accounts, select the account with the Chart of Account drop-down. This is an optional field and can be left blank.

    

18. If you wish all transactions processed through this fund to be linked to a particular Account Class, select the class with the Account Class drop-down. This is an optional field and can be left blank.

    

19. To earmark all donations recorded through this fund against a particular program or campaign, specify the appropriate option using the Program or Campaign drop-downs respectively (this is an optional field and can be left blank) (you can also earmark donations to a program or campaign per donation instead of all donations made to the Fund) when entering a donation.

    

20. In the Details section you can include a long description of the fund. This is an optional field and can be left blank.

    

21. Lastly, in the Set Ask Amount section, you can either create fixed contribution amounts for the fund (fixed ask amounts are set/fixed giving asks/levels set by you) or use one of the Ask Arrays you have configured on Fundraising: Configurations: Ask Arrays (Ask Arrays can be fixed or dynamic ask amounts. Learn more about working with Ask Arrays).

    

22. To use an existing Ask Array, select the Use Existing Ask radio button and then pick the Ask Array from the drop down list.

    

23. To create a new fixed ask/set of fixed giving levels, select the Setup Fixed Ask radio button (Note: after you select "Save" or "Save and Proceed" the simple fixed Ask Array will automatically be converted to an full Ask Array and added to Fundraising:Configurations: Ask Arrays).

    

24. In the ask description field, provide a clear description of the contribution amount level that you wish to create (for example "Bronze Level" or "Platinum Supporter").

    

25. Next, in the Amount field specify the donation amount associated with this giving level (use numbers only, no dollar sign).

    

26. Use the Tax Deductible Value drop down to specify whether the value in the box after it (the tax deductible amount/value) is either a percentage of the donation or a fixed amount. Specify the value of the tax deductible amount in the last box.

    

27. To add another ask amount (you can have ask many ask amounts/level as you want), click the + button.

    

28. To delete an existing contribution amount, click on the Delete button to the right of the contribution amount you wish to delete.

    

29. When you have finished configuring the Fund, click on the Save & Proceed button in the lower right, to configure donation acknowledgement templates for this fund (or select Save to save your work and return later).

    

30. On the following screen you will be able to specify the template used for the primary donor, soft credit donors, and contacts that have been tributed on any donation recorded through this fund. The system will automatically use these templates to create the acknowledgement letters for donations recorded through this fund and make those letters available within the Send Acknowledgement screen.

    

31. To select a template, click the Choose Template button to the right of the donor category. You can then select from a previously configured template or add a new template (please see our tutorial on setting up templates for more information). While you can create a new template from scratch from here/from within Add/Edit Fund, you will most likely find it easier to set up the template ahead of time/prior to configuring the Fund).

    

    

32. If, after selecting a template, you wish to preview or edit it, you can choose Preview or Edit options to the right of the template name.

    

33. When you have completed configuring the fund click on the Save button in the lower right of the screen and use the Back button to return to the funds list if desired.