A fund is an account to which a donor can contribute and receive contribution credit. There are specific use cases in which you will need to flag a contribution as non-tax-deductible. However, the major purposes of funds in TouchPoint are 1) to track giving for contribution statements, and 2) to get summary numbers to post into whatever you use for your general ledger. There are reports that will provide those summary numbers.
A fund can also be flagged as a pledge fund. This allows you to post donors’ pledges, and have contributions made toward that fund display (along with the amount of the pledge) in the pledge section of the donor’s statement.
- Non-Tax-Deductible Contributions
An individual donation to a normal tax-deductible fund can be flagged as non-tax-deductible. Example: a donor-directed gift from a foundation could be entered on a donor’s record, but flagged as non-tax-deductible because the donor received the tax credit when he initially gave to the foundation.
Funds are not used to track other types of income, such as bookstore sales. You should enter those totals into your general ledger, but not into TouchPoint.
Online registration fees are Transactions, and will display in the Transactions Log. These fees are not associated with a fund, and are not included in a bundle. However, they are associated with the registrant and the event in TouchPoint.
Add a New Fund¶
This can be done by any user with Finance role.
- Step 1
- Go to the Administration > Contributions > Management > Fund Management.
- Step 2
Select the green +Add Fund button and enter an integer (no more than 10 digits) for the new fund in the text box. Then press Submit. The number must be unique. In other words, you cannot create a new fund using an ID# for an existing fund. If you enter a fund ID that is already in use, you will see a message in red to that effect. Just enter a different integer.
Every database will have a fund ID 1. Do not remove this one, as it is required.
If you do not see the ID that is already in use, check your Closed Funds.
- Step 3
Complete the details for the fund.
Enter the Name and Description.
The Name and Description can be the same. By default, the Name is what will display on giving statements, in drop down menus and on reports. If you want the Description to display on giving statements instead, add the administrative setting ContributionStatementFundDisplayFieldName and give it the value FundDescription.
Check Pledge Fund? only if this fund is one to which people will make pledges.
We do not recommend flagging a fund as Non-Tax-Deductible. This is there to help with conversions.
The other fields for the various accounting codes are not required. However, the Income Account Number will display on the Totals by Fund export Ledger Income to help you when entering the summary totals into your GL and it will display on the Totals by Fund Payment Type report (this is a SQL recipe you can add to your database).
The Fund Management Role field is for use with fund-based finance roles. If you add a role to this field, contribution data for this fund will be visible to those with the role you enter.
- Step 4
- Press Save Fund.
Other Functions on Fund Management¶
All of these functions below, with the exception of changing the Default Fund, can be performed by any user with Finance role.
- Sort Column - for Online Giving
On the Fund List page, the Sort column applies to those Funds you want to make available for Online Giving. Assign the sort order based on the order in which you want the funds to display when a person is making a one-time gift as well as when setting up a recurring gift. Most churches will limit the number of funds they make available for online giving, just to keep the list from getting too long. However, Special Online Giving Funds can be used to display additional funds in a drop-down list.
To add a fund to the online list, click where you see Empty in the Sort column, and enter an integer and then click the blue check-mark.
To remove a fund from the online list, click the number in the Sort column and remove it. Then click the blue check-mark.
Any open fund can have contributions posted to it. The Sort is only used to display the funds you want to make available for online giving. If a donor wants to contribute to a fund that does not have a sort order (that is, does not display when they give online), they must make a manual contribution.
- Close a Fund
- Go to Administration > Contributions > Manage > Fund Management and click in the Status field where you see Open for that fund. Select Closed and then click the blue check mark.
- Change the Default Fund
The default when creating new bundles will be Fund 1. However, if your General Operation/Tithe fund is not Fund ID 1, your System Admin can add the setting DefaultFundId to your database, and enter the Fund ID# for the correct fund. It must be a fund that stays open.
To make other changes to a fund, return to the Fund Management page, click the Edit button for that Fund and make the necessary changes.