Stanford benefits from a dedicated community of donors who support its mission through their gifts. Donors generally expect that expendable gifts will be utilized within an appropriate timeframe. To assist departments in meeting donor expectations, FMS has developed a new report to monitor expendable gift funds with unspent balances, ensuring that these resources are used in a timely manner. This initiative is part of FMS’ ongoing commitment to promote financial stewardship excellence.
About the new report
The new report, Expendable Gift Fund Management, is designed to identify underutilized expendable gift funds for review and potential use, while monitoring that these funds are spent in a timely manner. Specifically, the report can answer important business questions that will help pinpoint underutilized expendable gifts, including:
- When was the gift fund created and when was it last used?
- What is the relative age of the gift fund balance
- What percentage of receipts remain in the gift fund balance
- Has there been low gift fund usage in recent years?
The report is found within the Oracle Business Intelligence (OBI) reporting suite. Access to the report is available to users who have been granted financial reporting authority by their unit.
Resources
- Topic Overview: Donor Gifts: Provides guidance on receiving, managing, and closing a donor gift.
- The Donor Gift Stewardship Checklist is a handy tool to guide the documentation and spending of gifts.
- Get individual support from an OBI expert by scheduling an open lab.
- The Office of Development and the FMS Fund Accounting team are here to help. You can also reach out to the Restricted Funds Group in OOD’s Office of Planned Giving and Donor Relations Office for your school and unit.