A Fund is a category inside your one savings account. It isn't a separate bank account, and creating one doesn't move any money.
There are three types:
- Operating: everyday money the organization can use.
- Board reserve: set aside by the board. Its money shows as Set aside and has to be released before it can be withdrawn.
- Donor restricted: given for a stated purpose and held under the donor's terms. You record the donor's terms with the gift agreement, and the money is released once the terms are met.
Every account has a default Fund. Until you add another, your savings show as one balance. To start using Funds, choose Organize into funds on the Dashboard.
On the Funds page, each Fund shows its balance and how much is set aside. You can set an optional goal on a Fund to track progress. A goal never limits or moves money.
Needs allocation holds money that's in the account but not yet in a Fund, such as a deposit whose Fund could no longer accept it. It can't be used until someone allocates it.
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