Best Of
Fund Segmentation
Hi all,
This is a follow up from the AdNet call last week to connect with those who said they used Foundant CSuite and wanted to connect to have further conversation around fund segmentation and stewardship tools within CSuite. I wasn't able to tag everyone, so will send this link within an email. Hopefully others in the CSuite world can join the discussion, too!
Re: What tool does your foundation use to manage contacts?
Thanks, @AimeeAddison. Is your organization a community foundation?
Re: Donations via Donor Portal
We have organizations who hold an endowment(s) with us. We promote those endowed organizations, and also do additional descriptions for those that are leveraging their endowment with a match campaign.
We touch on these promoting capabilities in our Nonprofit Endowment Policy, as well as in the establishing meetings for the Endowment.
Re: Recording a spendable to Deferred Revenue account
We did have this situation come up before the end of our FYE23 - donor wanted portion of donated dollars to go to fund current year spendable (FYE23) and a portion to go to the next fiscal year spendable (FYE24). I'd assumed that there would be a deferred revenue account I could use, but Foundant advised me to do the following:
Received donation to FYE23, posting with FYE23 donation date, checking Apply to Spendable, description referencing FYE24
JE'd transfer of FYE24 spendable donation (Net Assets - Spendable Balance debit/Net Assets - Fund Balance credit) with FYE23 post date of donation receipt date
JE'd transfer of FYE24 spendable donation (Net Assets - Fund Balance debit/Net Assets - Spendable Balance credit) with 1st day of FYE24 post date
Much more round about than what I've done before in other accounting systems, but did ultimately get the spendable into the correct fiscal year.
Hope that is helpful!
Re: Fund liaison assignments for donor stewardship
@elizabethmesserli We have started this process. We took all of our lowest engaged fundholders (we call them transactional) and assigned them to 2 of our staff. They don't have a "person" per say but they have multiple resources (phone line, and an email at our foundation that is monitored by multiple staff) of how to access staff when they need them to answer questions. We will officially make this transition in January, after the end of the year grants chaos :-)
This transactional fundholder transition also coincides with the analysis of a tiered service. We're trying to determine if/what a tiered services effort for our fundholders who are more engaged would look like. Details are TBD on that front. If you want to learn more about it, it's probably better if I connect you to our Director of Donor Engagement. Feel free to send me an email (laurel@trianglecf.org) if you ever want to speak with her!
