Does your unit incur expenses for fundraising efforts when soliciting gifts from donors? If so, see below for some points to keep in mind:
- Fundraising expenses need to be properly accounted for within Banner using a unique C-FOP, such as a unique gift fund or a unique program code (if using state or institutional funds). This allows for proper analysis of the University of Illinois System's fundraising efforts and ensures that these costs are properly excluded from the system's indirect cost study.
- Common examples of fundraising costs include salaries and benefits of development officers, as well as any other type of expenses incurred to directly solicit donations and conduct fundraising campaigns (such as direct mailings, travel, and meals with potential donors).
- However, expenses which are not directly related to donor solicitation efforts (such as general alumni relation expenses) should not be accounted for within these fundraising C-FOPs.
- For further details of the accounting requirements surrounding this topic, refer to Section 11.6, Accounting for Fundraising and Development Expenses within the Business & Finance Policies & Procedures.
- UAFR’s new Gift Funds webpage also contains helpful information on this topic as well.
Contact
If you have further questions on this topic, refer to the Business & Finance Who to Ask list and search on “Gift Funds” in the Search box located in the upper right-hand corner of the webpage. The contact information for the applicable UAFR subject matter experts will then appear.
