Statements generated by CSuite, the CFO’s new financial system, includes more information than previous statments. The statement is split up into two main sections: The fund detail section appears at the top, followed by the financial position section.
Fund Detail
Following the name of the fund, this section includes these details:
- Fund ID: The four-digit code used by the system to identify the fund. If you ever have questions about your fund, reference the fund ID to help a CFO staff member quickly find the fund in the system.
- Date established: The date that the fund was officially opened with the CFO or one of its regional affiliate foundations.
- Component of: The name of the foundation that holds the fund — either the CFO or one of its regional affiliate foundations. If held by an affiliate, a portion of the administrative fees assessed to this fund support the affiliate.
- Investment strategy: The type of investment where the fund’s monies are held.
Financial Position & Activities
This section may include the following details to show an overview of the activity throughout the reported periods:
- Contributions/Gifts: Charitable gifts of cash or noncash (such as securities) received within the period noted in the statement.
- Dividends/Interest: Dividends are distributions from a company’s earnings to its shareholders; Interest is the amount of money a bank pays for holding cash with the bank or for income derived from fixed-income bond instruments.
- Realized Gains/(Losses): Upon selling an investment, the fund will experience a realized gain if the investment was sold above its cost basis. If the fund experiences a realized loss, an investment was sold below its cost basis.
- Unrealized Gains/(Losses): Increase or decrease in the value of an investment that has yet to be sold.
- Other Revenues: Can include (but is not limited to) rental income, tax credits, revenue for services and other nongift revenue incurred by the fund.
- Distributions/Grants: Qualified grants or scholarships processed within the period.
- Foundation Administrative Fees: Supports operations and grantmaking programs of the CFO and its regional affiliate foundations.
- Investment Management Fees: Professional money management/advisory fees incurred by the financial institutions based on the investment strategy for your fund.
- Other Expenses: Can include (but is not limited to) credit card merchant fees, stock gift liquidation fees, third-party fees and other nongrant expenses incurred by the fund.
Don’t see a category on your statement?
If there is no activity for a category in either of the reported periods, the category will not appear on the statement.
Beyond the Statement
Additional information about the fund can be found on Fund Manager:
- Detailed information of gifts, grants and other activity
- Names of other fund advisors
- Spendable balance for the fund
Other information related to the fund can be found on the CFO website:
