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    Fund 1 Tab
    • 18 Oct 2023
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    Contents

    Fund 1 Tab

    • Updated on 18 Oct 2023
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    Fund 1 Tab

    The Fund 1 tab contains the basic information about the Fund, including the Fund ID, and Fund Name. It also contains four Fund Categorization codes: Division, Fund Class, Type, and Sub Type. These codes are used to construct four segments of the General Ledger Account Key, which identifies account records. Consolidated financial statements can than be totaled based on these categorizations.

    Fund 1 Tab

    Fund 1 Fields

    Field

    Description

    Fund ID

    Unique ID code (up to six characters in length) for the Fund. This code is usually alphabetic, but can also be numeric (or a combination of the two).

    Note: Once you save the Fund record, this field becomes read-only. Refer to Changing Fund ID Codes for more information on changing the code after you save the record.

    Tip: Recommendation: Try to limit your Fund ID codes to four or five characters. This will leave a space between the Fund ID and the natural account number for General Ledger accounts and make the full account number easier to read.

    Fund Name

    The full, formal name of the Fund.

    Tip: This field can scroll to accommodate long Fund names.

    Sort Name

    The alpha-sort name used for determining alphabetical order for data grids and printed reports.

    Note: The Sort Name should be unique for each Fund record and must be entered manually (FIMS does not automatically build this name, as it does for Profile Sort Names).

    Endowment

    Checkbox that indicates whether the Fund is an endowment Fund. Select the checkbox for endowment Funds and clear the checkbox for non-endowed Funds.

    Note: This field is used for informational purposes and does not affect any system processes.

    Principal Access

    Checkbox that indicates the organizational policy regarding access to principal for the Fund. Select the checkbox if the Fund allows access to principal and clear the checkbox if it does not.

    Note: The meaning of “access to principal” depends on the organization.

    Note: This field is used for informational purposes and does not affect any system processes.

    Anonymous Grants

    Checkbox that indicates whether the Fund Name should be printed on Grant checks.

    Select this checkbox to make the Fund anonymous for Grant payments.

    The selection you make here also sets the default value for the Anonymous field on the Payment Plan tab for Grant Applications for the selected Fund, but you can change the value directly on the Payment Plan tab for specific Grant Applications.

    Note: If the Anonymous checkbox is selected when you post the Grant Application and print checks, the check stub will say Anonymous Fund instead of the Fund Name.

    Established

    The date when the Fund was established.

    Establishing Gift

    The amount (in whole dollars) of the original contribution that was donated to establish the Fund.

    Note: This amount must be entered manually. It does not flow in automatically.

    Cash Requirement

    The available amount from the last Spending Policy Calculation for the Fund (if the Fund is on a Spending Policy).

    Note: This field is for informational purposes only and does not change when Grants are voted on.

    Note: Spending Policy also places the calculated value in the Cash-Requirement field of the FundSummaryHistory record.

    Source

    User-defined code that describes the reason that the Fund was established.

    Note: This field uses the same code table as the Source Code fields in the Donor and Gift records.

    Interest

    User-defined code that describes the primary Grant making interest area of the Fund.

    Tip: Recommendation: Populate this code table with the same codes as the Program Area code table for Grants. This may be useful when you need to match a Fund to a Grant request.

    Policy

    User-defined code that identifies the spending policy for the Fund and links the Fund to its Spending Policy Calculation.

    Staff

    User defined code that indicates the staff member assigned to this Fund.

    Grant Letter

    User-defined code that indicates how the Donor wishes to be thanked (or that Donor does not wish to be thanked at all).

    Note: Run the Unposted Application Export w/Fund Rep or the Application History Export w/ Fund Rep to create Grant award announcements for Grantees that include the name and address of a Fund Representative. The export can be limited to awards from Funds having a specific Fund Rep type (Fund Association), or letters can be sent to all Grantees, regardless of Fund Rep type. In either case the Grant Letter code is included in the export, so the correct notification can be placed in the award letters automatically by using conditional merge phrases in Microsoft Word. For example, if the Grant Letter code was Yes, the award letter could include the name and address of the Donor. If the code was No, the award letter could include the name, along with the Donor’s request that no formal appreciation be sent. If the code was Anon, the letter could inform the recipient that the Donor wished to remain anonymous.

    Admin Fee

    User-defined code (up to six characters in length) that identifies the administrative fee method for the Fund and links the Fund to its administrative fee calculation table.

    Note: If you have applied multiple fee codes to this Fund, the word "(more)" appears next to this field to indicate that there are additional fee codes. Go to the Admin Fee Codes section of the Fund 2 tab to see the additional codes.

    Note: The Edit and Post Administrative Fees process will return an error if any Fund does not have an Admin Fee code. For Funds that are not assessed a fee, enter a fee code of None. Refer to Editing and Posting Administrative Fees for more information.

    G/L FundID

    In some cases, an organization has multiple unrestricted Funds but does not distinguish their transactions in General Ledger (maintains a unified set of General Ledger accounts). The Fund ID of the unified unrestricted Fund would be placed here for each of the individual Funds.

    Note: This field is rarely used and will generally be disabled. You can enable the field via System Options. Contact FIMS Support for help using this code.

    Trustee ID

    Text-entry field where you can enter the name of the bank (trustee) or investment manager in which the Fund is invested.

    This field is primarily intended for Funds held in trust.

    Investment Account

    User-defined code that identifies the investment account where the Fund is held (FACTS).

    This field is primarily intended for Funds held in trust.

    County Code

    User-defined code that identifies a regional designation for the Fund or its activity.

    If you need to create General Ledger reports by the same regions, you should use the same code scheme for the Division code. The County code can also be applied to Fund Distributions, Profiles, and Applications/Grants.

     

    Fund Categorization Codes

    There are four codes at the bottom of the Fund 1 tab that you can use to categorize the Fund in ways that best suit the operation of your organization. These codes are used to construct four segments of the General Ledger Account Key, which identifies account records. Consolidated financial statements can be totaled based on these categorizations.

    NOTE: If the G/L Active checkbox is selected in System Initial Setup, and General Ledger accounts have been built for the Fund, you cannot edit the Division, Class, Type, and Subtype fields directly. In order to change these codes, you must change them globally (in General Ledger and all historic and unposted transactions and records, along with the Fund Profile), which is accomplished using the Change Fund Codes utility. Refer to Changing Fund Codes for more information.

    NOTE: These codes can be used as you wish, or even left blank – except for the Fund Class, which determines General Ledger design and the default General Ledger accounts for common transactions for that Fund Class.

     

    Field

    Description

    Division

    User-defined code (one or two characters in length) that indicates Fund ownership, or the geographical designation of Fund activity.

    Sample Division Codes: 00 = The Corporation, 03 = Mills Museum (Affiliate), 05 = The City Fdn. (Support Org.), 07 = 1st InterState (Trust Bank), CC = Charles County Funds.

    NOTE: If you use this code for a geographical designation, which enables General Ledger reporting based on region, you should use the same codes for the County code table.

    Class

    User-defined code (two characters in length) that indicates the financial category of the Fund and determines the basic set of General Ledger accounts it will have.

    Sample Class Codes: 01 = Permanent (pooled), 02 = Permanent (non-pooled), 10 = Quasi-endowed, 50 = Pass through, 90 = Operating.

    Fund Type

    User-defined code that is often used for the FASB categorization of the principal or non-spendable portion of the Fund.

    Sample Fund Type Codes: P = Permanently Restricted, T = Temporarily Restricted, U = Unrestricted, N = No non-spendable portion.

    NOTE: When all net assets are reported as Unrestricted, you can use this code field for other uses. For example, if FASB coding is not an issue, many organizations use this field for the Donor restrictions on spending – in which case the Sub Type can be left blank.

    Sub Type

    User-defined code that defines any Donor restrictions placed on the use of the spendable portion of the Fund.

    The spendable portion of a Fund is usually tracked by the income balance (which in the case of pass-through Funds may be the entire Fund).

    Sample Sub Type Codes: A = Donor advised, D = Designated, F = Field of Interest, O = Organization (agency) designated, S = Scholarship, U = Unrestricted (Discretionary).

     

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