Funds are meant to track the intent of a donor's donation.
Check out the video below on creating funds, and then read the rest of the article for more details.
Giving is designed to handle tax deductible donations only, so Funds should only be created to handle these types of donations. Non-deductible payments, such as camp scholarships designated for a specific person, should be processed in Registrations. Other non-deductible income should be tracked outside of Planning Center.
Create or Edit a Fund
To create and edit funds, go to the Funds tab on the Manage page.
- To create a fund, click Open a new fund.
- To edit a fund, select an existing fund.
- Choose a short but descriptive name.
- Some general ledgers (GLs) have numeric codes that act as primary identifiers for funds. If you use numeric codes in your general ledger, add the code to easily pair Giving funds with your general ledger as you accomplish various bookkeeping tasks.
- Choose a color to help differentiate funds at a glance. The theme is only shown on the Admin side of Giving.
- Add a short description about what this fund will be used for. Fund descriptions are visible to donors on your donation form.
- Choose the visibility of the fund.
- Set up a Fund Shortcut to make it easier for Text-to-Give donors to designate their donation to that fund.
- Share this link to pre-select this fund on your donation form when Giving Online.
- Don't add dates to annual funds. Instead, open and close a fund that will be used seasonally.
- If you have multiple campuses, include the name of the campus in the fund name.
- If your fund will be used for a pledge campaign, try to match the name of the fund with the name of the campaign.
Open funds are funds that are available for people to donate to.
1. Default Fund
The Default Fund is the fund automatically selected on your donation form or in a batch. This is also the fund selected if another is not designated while using Text-to-Give. For this reason, we typically suggest that your default fund be set up as your church's discretionary fund.
The Default Fund is created when you first set up Giving, and it cannot be closed. However, you can change your Default Fund by contacting our Support Team.
2. Open Funds
In most cases, Open funds should be set up as restricted funds as assigned by your General Ledger. These should reflect the donor's intention of how their gift should be spent.
If you need to keep a fund open but hide it from online giving, you can designate it as Open (hidden). This will allow Administrators to designate donations to this fund in Batches but will hide it from your online donation form.
If a recurring donation is set up and the selected Fund's visibility is changed to Open (hidden), those donations will continue to be processed based on their scheduled frequency. While new recurring donations can be set up by Administrators for Open (hidden) funds from a donors profile, they cannot be created by donors from your donation form.
You can reorder Open funds (except for the General fund) by dragging-and-dropping. The order of funds on the Funds page will also be reflected in the Fund drop down on your donation form and in Batches.
When donations are no longer accepted for a fund, it can be closed. Once closed, the fund is hidden from your donation form, but recurring donations will still continue to go to this closed fund until changed either by the donor or an admin per the donor's request.
If a donation was designated to a specific fund, and there's a need to change or close that fund, contact the donor to get their permission to reassign their donation or refund the donation.
If a fund is no longer needed, close it instead of renaming it. If you do rename a fund, the action is logged to ensure donations aren't being mismanaged or embezzled.
Closing a fund is not a permanent action; the fund can be reopened if necessary.
If you receive seasonal donations for a specific fund, once those donations are no longer received, close the fund then reopen it when those donations need to be received again. This keeps your funds list clean and helps the church designate funds in the best way for any season.
Delete a Fund
Funds can only be deleted if there has never been money donated to them.
To delete a fund with $0.00 attributed to it, select the fund.
Click Delete at the bottom of the Edit fund box.