Did you know that there are specific accounting requirements for fundraising and development expenses? See below to learn more:
- Fundraising and development expenses must be properly classified in Banner.
- Proper classification supports accurate analysis and evaluation of the University of Illinois System's fundraising and development efforts and ensures these costs are excluded from the system's Indirect Cost Study.
- Common examples of fundraising and development expenses include costs for donor cultivation activities and events, fundraising campaigns, fundraising events, and other activities intended to solicit and obtain gifts.
- For additional guidance on identifying, classifying, and accounting for fundraising and development expenses, refer to Section 11.6, Accounting for Fundraising and Development Expenses.
Contact
For additional assistance, contact the appropriate UAFR subject matter expert by searching for “Gift Funds” in the Who to Ask list.
