What is most important is your internal financial structure, GL system, and
chart of accounts. I have worked with many organizations who do not have
different income/expense/gift accounts but, instead, use a single fund but
"object codes" within the fund to differentiate between transaction types.
So giving to an "income" fund might be just fine as long as your chart of
accounts can differentiate between income types! This is probably a
conversation you should initiate with your CFO.
John
John H. Taylor
Principal, John H. Taylor Consulting
2604 Sevier St.
Durham, NC 27705
johntaylorconsulting@gmail.com
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
On Fri, Apr 26, 2019 at 11:18 AM Kiser, Kate <
kkiser@iuhealth.org> wrote:
> Greetings.
>
>
>
> I have stumbled on some cases where philanthropic dollars have been
> directed to an income fund and believe that this does not follow best
> practice in our industry. I’m looking for feedback on this topic if you
> have encountered this issue or know of a best practice resource I can
> consult on this issue.
>
>
>
> Thanks very much.
> Kate
>
>
>
> Kate Kiser
>
> Director, Development Operations
>
> IU Health Foundation
>
> 317.962.9304 *|*
kkiser@iuhealth.org <
khord@iuhealth.org>
>
>
www.iuhealthfoundation.org
>
>
>