Defining funds

Funds are the entities within your organization that serve as asset accounts for your fundraising activities. Frequently, for legal and accounting reasons, an organization must maintain separate accounting records for each fund.

In iMIS, a fund is an organization. Gifts and pledges are directed to a fund (for example, a capital fund, a fixed asset fund, or a general unrestricted fund).

Information that is entered in the Set up funds window is displayed in the Organization Names window. Entities that have the Is Fund option enabled in the Organization Names window are also displayed in the Set up funds window.

Note: If you add a fund, restart iMIS to enable access to the new fund information.

Warning!  

Do not delete funds after you have completed fundraising transactions. Deleting funds affects the completed transactions. If you delete a fund, you must manually delete the fund from the appeals, campaigns, distributions, and donor levels associated with the fund.

To define a fund

1. From Set up funds window, click New.
2. Enter the Code for the fund.
3. Enter the Name of the fund
4. (optional) Enter the fund's Invoice/Receipt Address.
5. (optional) Paste the fund's Logo if available.
6. (optional) Enter the Letterhead like Single Line Address if applicable.
7. Select the appropriate Taxation Method option.
8. (Canadian taxation only) Enter the Tax Authority.
9. (Canadian taxation only) Enter the GST/HST Remittance #.
10. (optional) Add any interest codes to be associated with the selected fund in the Interest Code field, or press Ctrl+L to select interest codes.
11. Click Save.
12. Restart iMIS.

Note: If you defined a fund as the default organization in the Organization Names window, the fund will have an asterisk next to it in the Org Codes scrolling list indicating that it is the default fund (and the default organization).