How does your organization break down fund groups, subgroups, divisions, and segments?
Hello!
We're currently evaluating how we utilize the organization of fund groups, subgroups, divisions, and segments and would love to hear how other community foundations are using these categories.
Currently we use group like fund type - as in endowments, DAFs, fiscal sponsorships, scholarships, and community funds. But actually, community funds with us are either fiscal sponsorships or endowments. And some scholarships are endowed, while others aren't
We use subgroup as physical location - like a particular community in Oklahoma. We serve all 77 counties in OK, so our "Service Area" field is by county.
Division is where we note who set up the fund - Agency or Individual established.
Finally, segment is used for how our CF interacts with the fund - is it "managed" by us or not. We use "managed" to describe funds like scholarships where we are hosting the scholarship app, administering reviewers, paying the school versus cutting an annual distribution check to a school foundation who administers the scholarship.
We suspect there could be a more helpful and efficient way to categorize funds - how does your org categorize funds?
Best Answers
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I think our set up is fairly similar!
Group - Fund type; we have quite a few so this area is pretty drilled down & specific. EX. DAF - Legacy - Endowed; DAF - Legacy Fixed Advice; DAF - Express - Nonendowed; etc.
Subgroup - We use this as more of an umbrella grouping EX. all Endowed, Nonendowed, Legacy, Field of Interest, Designated, permanent funds, scholarships, DAFs, CGAs, Trusts, etc.
Divisions are more so used for separating entities that require a different income tax process.
Segment is used for separating out how a fund is invested. Ex. equity pool, growth pool, general pool, etc.
4 -
We use groups as follows
Group - broad categories: Advised, Designated, FOI, Unrestricted, Deferred Asset, Agency, Scholarship
Subgroups - this is used to break out the Groups into smaller buckets to make running financial reports easier. Example: FOI group has subgroups of: Pre-allocated, Competitive Grants, Women's Foundation, Seperate Advisory Committee, Hardships, and Special projects
Division - used to identify funds with different tax processing
Segment - used to group funds by type of investment. We do this to expedite running fund statements for funds invested in less complicated investment pools.
2
Answers
-
I think our set up is fairly similar!
Group - Fund type; we have quite a few so this area is pretty drilled down & specific. EX. DAF - Legacy - Endowed; DAF - Legacy Fixed Advice; DAF - Express - Nonendowed; etc.
Subgroup - We use this as more of an umbrella grouping EX. all Endowed, Nonendowed, Legacy, Field of Interest, Designated, permanent funds, scholarships, DAFs, CGAs, Trusts, etc.
Divisions are more so used for separating entities that require a different income tax process.
Segment is used for separating out how a fund is invested. Ex. equity pool, growth pool, general pool, etc.
4 -
We use groups as follows
Group - broad categories: Advised, Designated, FOI, Unrestricted, Deferred Asset, Agency, Scholarship
Subgroups - this is used to break out the Groups into smaller buckets to make running financial reports easier. Example: FOI group has subgroups of: Pre-allocated, Competitive Grants, Women's Foundation, Seperate Advisory Committee, Hardships, and Special projects
Division - used to identify funds with different tax processing
Segment - used to group funds by type of investment. We do this to expedite running fund statements for funds invested in less complicated investment pools.
2
