Fund statements are used to communicate the activity of a fund to fund holders. These can be customized to fit the needs of the fund, fund holders and your foundation. Fund statements consist of three main components:
- Fund Statement Templates
- Fund Statement Formats
- Fund Options
Fund Statement Templates
Fund Statement Templates are word documents that contain a combination of written text (such as a cover letter), and merge fields for the information that you want to include from CommunitySuite (example below)
CommunitySuite provides three different example templates to help you get started, which can be found in System Data -> Templates -> Example Templates in CommunitySuite (see image below).
Before you can start building your template, you need to know what data can be pulled into fund statements. Click the plus marks below to expand and review a list of available data for each section.
Fund data includes such things as the fund name, the advisor address information and other items related to the fund. For all the amount fields, the default format is commas, two decimal places and no currency symbol. These fields are inside the main foreach fund. Here is the list of currently available fields and what they mean.
Activity detail is the list of General Ledger transactions for the statement period. The transactions will be selected based on their posted date. These fields need to be inside a foreach activity_detail section. Here is the current list of fields.
Admin fees lists the detail for admin fees charged to the fund within the statement period. The transactions selected will be based on the Admin Fee post date. This is especially useful if a fund is subject to more than one admin fee as the fund holder can see the specific break down. These fields need to be inside a foreach admin_fees section. The total admin fees paid for the period is available with the merge field admin_fees_total. There is not an admin_fees_total_ytd field. This is the current list of fields.
Assets is the asset portion of the balance sheet. This will be the value in these assets as of the statement date. It is a short list of fields with only two options. The YTD options will return the same value as this section is based on the balance in the account at the ending date of the statement period. The total assets is available in the mergefield assets_total. Since this is a balance sheet field, the same merge field can be used for YTD numbers as well. These fields need to be enclosed inside a foreach assets block.
The distributions section is the expenses portion of the income statement. This will be the activity in the GL account for the statement period (based on the post date like activity detail). The YTD fields will be the activity in the account from the beginning of the year to the end of the statement period. The total for the period is available in the distributions_total merge field and the year to date total is available with distributions_total_ytd. These options will be inside a foreach distributions block. The possible fields are listed below.
The donations section is the detailed list of donations for the statement period. The donations will be selected based on the donation date. The total of the donations is available with the donations_total merge field. There is not a donations_total_ytd field. These fields need to be enclosed inside a foreach donations block. The possible fields are listed below. The highlighted fields are the ones most likely to be needed either for detail or as part of a condition.
The grants section is to show the detail of grants awarded within the statement period. Once again, please note that it is total awarded, not the amounts paid in the fund statement period. The grants will be selected based on the grant date. The total grants awarded is available in the grants_total merge field. There is not a grants_total_ytd field. This section needs to be enclosed within a foreach grants block. The fields available are listed below. The highlighted fields are the ones most likely to be needed either for detail or as part of a condition.
Invoices are amounts paid to a fund that are non-deductible. This will not apply to every fund type. Most commonly, it is used for funds that have event or other fair market value style income. Invoices will be selected based on the invoice date. The total invoices for the statement period are available in the invoices_total merge field. There is not an invoices_total_ytd field. This section needs to be enclosed with a foreach invoices block. The fields available are listed below.
Liabilities is the liability portion of the balance sheet. This will be the value in these liability accounts as of the statement date. It is a short list of fields with only two options. The YTD options will return the same value as this section is based on the balance in the account at the ending date of the statement period. The total liability is available in the mergefield liabilities_total. Since this is a balance sheet, the same field can be used for YTD. These fields need to be enclosed inside a foreach Liabilities block. The two fields are listed below.
The receipts section is the income portion of the income statement. This will be the activity in the GL account for the statement period (based on the post date like activity detail). The YTD fields will be the activity in the account from the beginning of the year to the end of the statement period. The total for the period is available in the receipts_total merge field and the year to date total is available with receipts_total_ytd. These options will be inside a foreach receipts block. The two fields available are listed below.
The revenue share section is used to detail the investment gains and losses for the statement period. The transactions selected will be based on the revenue share post date. The total gain/loss is available in the merge field revenue_share_total. There is not a revenue_share_ytd field. This section needs to be enclosed in a foreach revenue_share block. The possible fields are listed below.
The voucher section is used to list any payments that were not grant related for the fund (grant/scholarship vouchers are automatically excluded from this section). Similar to invoices, this will not apply to every type of fund. The vouchers will be selected based on the voucher date. The total voucher amount for the statement period is available in the vouchers_total merge field. There is not a vouchers_total_ytd field. This section should be enclosed in a foreach vouchers block. The possible fields are listed below.
In all templates, there is a concept of blocks. This is everything between a #foreach and a /foreach tag. Within the block, only the fields that are part of that block are available. Let’s illustrate this with a quick diagram showing the typical structure of a statement:
(Revenue information block)
(Expense information block)
(Contribution information block)
(Grant information block)
You can see from the above diagram, there are 5 main blocks in a typical fund statement. There is the overarching fund block and one for each section of information – revenue, expenses, donations and grants. So you would think that the fields in the fund section would be available all through the template. However, that is not true. They can not be used inside the other blocks (the same is true of the fund advisor fields which are available in the fund area).
Once you've created a fund statement template, you'll need to upload it to CommunitySuite.
Fund Statement Formats
The next step is to assign your fund statement template to a Fund Statement Format and configure the settings in the format.
Name is what you want to call the format.
- As a best practice, one format should be your default and named accordingly (i.e Standard Fund Statement or Default Fund Statement), and any others, should have a descriptive name that is aligned with the purpose of the fund statement. For example, "Agency Fund Statement".
Include YTD needs to be checked if you want to use the _YTD fields in formulas or as display items.
- These are all the fields in the funds section that end in _YTD in the name.
- Template is a drop down that lists the fund statement templates that are available in the system.
Default is a check box indicating that this format is the one that will be used for all funds that do not specify a particular format.
- You can only have one default format, so if you check it the box and press save, any other format that was assigned as the default will automatically have this box unchecked.
Include Sub-Fundsis a check box that controls sub fund behavior.
- When it is checked, all activity in the subfunds (including balances) will roll up as if it was all in the master fund and a statement will not be generated for the sub fund(s).
- When it is unchecked, balance and activity is limited to just the individual fund and the sub funds will have their own statements.
- Use Statement Accounts controls whether or not you want to show GL accounts as they exist in your chart of accounts or if you want to use the statement account instead.
Print Copy For Each Advisoris for when a fund has multiple advisors assigned to it.
- If this box is checked, a statement is produced for each advisor when creating the fund statement print file.
- When it is unchecked, only one will be produced for the fund.
- It also must be checked if you include the fund_advisor.address and/or name fields in your template for those fields to pull in.
Sections where you pick which parts are turned on in your statement.
- Each section can be sorted by any field in the lists above, even if the field is not displayed. You can also choose to use ascending (a to z, smallest to largest or oldest to newest) or descending (z to a, largest to smallest or newest to oldest) for any field. Using multiple fields will “nest” your sort. For instance using date and then amount would sort by date first and then when items have the same date, they would sort by amount.
The final step (before you can generate a fund statement for the template and format that you created) is to configure the four fund settings that affect fund statements, which are Statements, Statement Interval, Fund Statement Format, YTD Interval.
Statements indicates that you want to produce a fund statement for the fund when you run the fund statement process.
- You can always run a manual fund statement for a fund regardless of this setting.
Statement Interval can be set to blank, monthly, quarterly or annually.
- Leaving this blank means include this fund in every run where we create fund statements.
Fund Statement Format specifies the specific format you want the fund to use.
- Leaving this blank will use the "default" fund statement format (in Funds -> Fund Statements -> Formats)
- YTD Interval allows you to offset the year to date columns from your fiscal calendar.