Project Specific Funds?

If you have 4 major exhibits each year – why not assign a fund code each exhibit.   You change the GL each year (assume that carries the activity or code to make distinct).   We do something like that for our galas.  In addition to opening night and new year’s eve, we have a 2 other gala evenings – so I set up 4 fund codes and use like odd and even year so in FY13 I use 8922, 8923 and FY14  I use 8925, 8926 and then in FY16 I repeat the 8922 and 8923.   The fund codes are assigned to the unique Campaign which as its own appeals so we have that detail in Contributions etc.  The GLs are changed to match the gala

Hello Development gurus,

Do you find it good practice to have separate Funds for each major project?

My org stages around 4 major exhibitions per year, with specific fundraising pushes (and separate GL Codes) for each exhibition.

I am now realizing that this will mean the number of Funds we have will increase each year. 

How do you handle this in your org? Do you simply have stick to a common GL Code for all projects and manage the restrictions of money via designations?

Cheers,

Nicholas

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If you have 4 major exhibits each year – why not assign a fund code each exhibit.   You change the GL each year (assume that carries the activity or code to make distinct).   We do something like that for our galas.  In addition to opening night and new year’s eve, we have a 2 other gala evenings – so I set up 4 fund codes and use like odd and even year so in FY13 I use 8922, 8923 and FY14  I use 8925, 8926 and then in FY16 I repeat the 8922 and 8923.   The fund codes are assigned to the unique Campaign which as its own appeals so we have that detail in Contributions etc.  The GLs are changed to match the gala

Hello Development gurus,

Do you find it good practice to have separate Funds for each major project?

My org stages around 4 major exhibitions per year, with specific fundraising pushes (and separate GL Codes) for each exhibition.

I am now realizing that this will mean the number of Funds we have will increase each year. 

How do you handle this in your org? Do you simply have stick to a common GL Code for all projects and manage the restrictions of money via designations?

Cheers,

Nicholas

This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!