RE funds have 2 components in CRM – a purpose and a designation. In some circumstances you can have multiple designations under one purpose, but for the most part at Partners we have a one to one relationships between purposes and designations.
Good to Know!
- Purpose is more stewardship focused; information like stewardship recipients, fund totals, and related staff is here
- Designation is more financial; information like the GL mapping and related appeals is here
- You can flip back and forth between them using tasks on the left panel
- When you create a new purpose and designation, you use a wizard that takes you through basic fields to create BOTH a purpose and a designation. After they are created, you can enter additional information on each.
Adding a Purpose and Designation
This wizard takes you through 3 different screens
PURPOSE INFORMATION
Will this purpose be accepting revenue? – Choose YES. You would only choose No if you are creating a hierarchy which Partners is not doing at this point, or creating a purpose for Naming Opportunities
Purpose hierarchy – choose purpose will start a new hierarchy level
Internal name – Enter the name of the fund, this also defaults to the designation name. These are kept in synch by Atlas, and this name is the one commonly used on datalists within Atlas.
Purpose Lookup ID – the fund number commonly used for entry
Public purpose name – If there is an extended name more appropriate for receipts and outward facing documents you would enter that here. This used to be captured in the RE Fund Override fund attribute. This defaults to the Internal name.
Site – as appropriate. If your affiliate uses subsites you would choose whichever is associated with the fund
Purpose category – same as the fund category from RE. This is affiliate specific
Purpose Report Code 1 and 2 – Conversion Note: BWH is converting Endowment Classification here; Chair and Professorship information also converting here
DESIGNATION INFORMATION
Public Designation Name – defaults from purpose. Note that there is no automatic sync between the designation public name and the purpose public name. At this time the purpose public name is the one we are using for outward-facing correspondence.
Designation Lookup ID – defaults from purpose
Report Code 1 and 2 – we are not using these at this time
Use Code – what kind of fund is this, enter the fund type. In RE we captured this with the Fund Type.
Campaign – is this new fund associated with a campaign, add or leave blank as appropriate
Start Date – enter the start date
End Date – enter the date this fund became inactive, not sure why you would be entering an inactive fund?!
MAP TO GENERAL LEDGER
Still in progress, will update once the GL is finalized!
Once create additional information is added to the Purpose and Designation records