Funds, also known as gift items, 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 gift item.
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.
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 in the iMIS Desktop from the appeals, campaigns, distributions, and donor levels associated with the fund.
Defining a new fund follows a similar process to defining a new financial entity. Do the following to define a new fund:
- From the Staff site, go to Settings > Finance > Financial entities.
- Select Add new financial entity.
- Enter the fund code in the Organization code field.
- Enter the name of the fund in the Organization name field.
- Enable Is fund.
- Select the appropriate Taxation method option.
- (optional) Enter the fund's Invoice/Receipt address. This designates the mailing address of the fund.
- (optional) Select the fund's Logo if available. This designates the fund's logo that is used on reports that include a logo.
- (optional) Enter the Letterhead like single line address if applicable.
- Click Save & Exit.
Note: If the fund you are creating is for a Cause2Give donation import, the Organization code (fund code) must match the donation level Name or Fund Code exactly.