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  • 1.  Restricted fund spending

    Posted 03-21-2025 01:46 PM

    Happy Friday!  I am researching spending policies for restricted funds.  Specifically, what are some examples of athletics-related expenses that have met the donation restrictions?  For instance, let's say the softball team has $15,000 in their restricted fund.  Aside from team equipment and uniforms, what else would this fund be used for? 

    Does anyone in this group work on the finance side of development? I would welcome the connection!



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    Tracy Forkin
    Johnson & Wales University
    tracy.forkin@jwu.edu
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  • 2.  RE: Restricted fund spending

    Posted 03-21-2025 02:48 PM
    Hi Tracy, I would start by understanding any gift agreements associated with the fund. And I would look at the documentation created when the fund was created on the business side to understand how they documented those restrictions. If those weren't definitive, I'd be looking in donor records for notes. Hope that helps for a start,
    Susan Quinn



    Original Message


  • 3.  RE: Restricted fund spending

    Posted 03-21-2025 02:56 PM

    All of these are great ideas that we already have in place.  Gift agreements and LOIs have saved me on many occasions.

     

    Unfortunately, these are annual giving funds (many gifts / small amounts) designated to teams.   We have the language in the appeals, but this is very general. I'm encouraging the fund stewards to use their restricted funds by providing them with suggested uses.  My VP asked me to see what other schools do in this situation.

     

     

     

    Best regards,

     

    Tracy

     




    Original Message


  • 4.  RE: Restricted fund spending

    Posted 03-21-2025 03:03 PM

    Hi Tracy,

     

    In addition to the purposes you listed, we use our restricted athletic team funds for team travel opportunities.

     

    Best,

    Lisa

     

    Lisa Keaney

    Suffolk University

    Boston, MA

    FundSvcs Community

     

    Re: Restricted fund spending

    Mar 21, 2025 2:56 PM

    Tracy Forkin

    All of these are great ideas that we already have in place.  Gift agreements and LOIs have saved me on many occasions.

     

    Unfortunately, these are annual giving funds (many gifts / small amounts) designated to teams.   We have the language in the appeals, but this is very general. I'm encouraging the fund stewards to use their restricted funds by providing them with suggested uses.  My VP asked me to see what other schools do in this situation.

     

     

     

    Best regards,

     

    Tracy

     




    Original Message

    Hi Tracy, I would start by understanding any gift agreements associated with the fund. And I would look at the documentation created when the fund was created on the business side to understand how they documented those restrictions. If those weren't definitive, I'd be looking in donor records for notes. Hope that helps for a start,

    Susan Quinn

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    Original Message:
    Sent: 3/21/2025 3:56:00 PM
    From: Tracy Forkin
    Subject: RE: Restricted fund spending

    All of these are great ideas that we already have in place.  Gift agreements and LOIs have saved me on many occasions.

     

    Unfortunately, these are annual giving funds (many gifts / small amounts) designated to teams.   We have the language in the appeals, but this is very general. I'm encouraging the fund stewards to use their restricted funds by providing them with suggested uses.  My VP asked me to see what other schools do in this situation.

     

     

     

    Best regards,

     

    Tracy

     




    Original Message:
    Sent: 3/21/2025 3:48:00 PM
    From: Susan Quinn
    Subject: RE: Restricted fund spending

    Hi Tracy, I would start by understanding any gift agreements associated with the fund. And I would look at the documentation created when the fund was created on the business side to understand how they documented those restrictions. If those weren't definitive, I'd be looking in donor records for notes. Hope that helps for a start,
    Susan Quinn




  • 5.  RE: Restricted fund spending

    Posted 03-21-2025 03:23 PM

    Hi Tracy,

    As others have said, if there are no other restrictions on the funds, we would use them for any general operating support for the teams - uniform, travel, equipment, meals on the road, etc. It's possible the funds would also help cover coaching and staffing related to the teams.

    Cheers,

    Emily



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    Emily Konisky
    Emory University
    Emily.Konisky@emory.edu
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    Original Message


  • 6.  RE: Restricted fund spending

    Posted 03-24-2025 01:45 PM

    Hi Tracy - we recently unrestricted all of our funds that were aligned the way you described.  What was happening was the team was using this restricted account as their little savings account and not spending it.  Instead, they would overspend their operating accounts each year.  We have fundraising for each of our teams, but never enough to pay for all coaching, uniforms, travel, etc.  It hasn't been a terribly popular change, mostly due to poor communication planning, but now there is more budget transparency.  Coaches and the AD are to budget for what they actually need to support the student-athlete experience.  If a donor wants to make a truly restricted major gift, we will handle that separately.



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    Sandra Gray
    Knox College
    sggray@KNOX.EDU
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    Original Message


  • 7.  RE: Restricted fund spending

    Posted 03-24-2025 01:48 PM

    Thank you, Sandra, and all who responded.  This information is helpful. 

     

    Sandra, the "savings accounts" you mention are happening here. 

     

    Best regards,

     

    Tracy

     




    Original Message


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