Restricted Funds - Why Its Fundamental To The Growth Of Your Charitable Organisation

As a non-profit organisation you will no doubt come across the term restricted funds. This is nothing new but how these are dealt with is fundamental to the growth and future of your charitable organisation.

 

 

What is a restricted fund?

Often donations are made to a charity that can be used across the organisation for any reason deemed necessary by the charity. However when a donor gives money to a non profit organisation they may specify what those funds could be used for and this is then treated as a restricted fund For example a foundation grant to buy a computer system or an individual donation to purchase a specific asset such as a mini bus.

If funds are restricted by the donor then the non profit organisation is required to ensure these are spent in the correct way, as failure to comply could result in the donor being entitled to get their money back

Its therefore imperative that the non-profit organisation can provide up to date information on these restricted funds and account for these separately in the financial statements and when budgeting enabling the allocation of funds correctly.

Can technology help me cure the pain of donor reporting?

There are excellent financial and ERP (Enterprise Resource Planning) solutions that can provide this information at the touch of a button, however some non-profits may still be using excel to manipulate the data outside of any accounting system and thus fall foul of complex calculations, duplication of data and human error not to mention the time and resource it may take.

At this point you may be asking, how or why do I need Embridge Consulting?

Embridge Consulting, is a leading boutique systems integrator and ERP consultancy with a history of working with non-profit organisations. We’ve been working in the industry since 2009, uniquely positioned initially providing services around Unit4 Business Software. Since then, our latest partnership with Xledger, announced in 2021 has enabled us to work with smaller, fast growing non-profit organisations delivering the built in accounting and data analysis tools.

Over the coming weeks we’d like you to join us for a series of webinars that cover the challenges some non-profit organisations face and how [we can help to guide you through the journey of digitally transforming your processes and solutions to help you growth, remain compliant and above all else attract new donors.

 

Press Contacts

Enquiries@embridgeconsulting.com or contact
Tracey Adams, Business Development/Marketing Manager: 01474555505/ 07971986804
www.embridgeconsulting.com

Our first webinar discusses this very subject, Restricted Funds and why its management is so important. We take a look at some of the pain points non-profits face daily and how technology is helping to solve these issues. View the recording here or download the podcast.

 

About Embridge Consulting 

Embridge Consulting is a leading boutique systems integration consultancy, specialising in Unit4 ERP and other partners. Founded in 2009 and headquartered in the UK, the consultancy works with clients in the public sector, nonprofit, professional services, and other sectors to provide a more personal and tailored client experience compared to other, more traditional global systems integrators. Through professional and experienced consulting, best-in-class ERP technology, training, and a commitment to continual client improvement, Embridge is helping clients achieve faster time to value from digital transformation programs, at lower cost and with less risk.

Press Contacts

Enquiries@embridgeconsulting.com or contact
Tracey Adams, Business Development/Marketing Manager: 01474555505/ 07971986804
www.embridgeconsulting.com

Contact Embridge

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