Funds represent the causes or financial accounts that incoming gifts are allocated to, or directed toward, and are often dictated by the accounting department of your organization or by the specific causes your organization supports. They may be referred to as “accounts” by financial personnel, but should not be confused with accounts in Causeview.
It might help to think of funds as boxes where you put all of your money or revenue until it is used. If an incoming gift is restricted to use for building a new hospital wing it could be allocated to the “Hospital Wing” fund, while a gift restricted to a scholarship may be allocated to the “Student Scholarship” fund. Your organization may also have a generalized fund for unrestricted gifts, which can be used for any purpose. For some organizations, one general fund is all that is needed.