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 also ensures that these costs are properly excluded from the U of I 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, meals with potential donors, etc.)
- However, expenses which are not directly related to donor solicitation efforts (such as general alumni relation expenses) would not be considered as fundraising expenses.
- For further details of the accounting requirements surrounding this topic, refer to Section 11.6, Accounting for Fundraising and Development Expenses within the Business and Financial Policies and Procedures manual.
Contact
If you have further questions, feel free to reach out to UAFR's applicable subject matter experts within the Gift Funds section of UAFR's Who to Ask list.
