Statements generated by CSuite, the AAACF'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.
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 AAACF staff member quickly find the fund in the system.
- Date established: The date that the fund was officially opened with the AAACF or one of its regional affiliate foundations.
Financial Position & Activities
This section may include the following details to show an overview of the activity throughout the reported periods:
- Contributions: Charitable gifts of cash or noncash (such as securities) received within the period noted in the statement.
- Investment Performance:
- 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.
- 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.
- Other Income: Can include (but is not limited to) rental income, tax credits, revenue for services and other nongift revenue incurred by the fund.
- Grants: Qualified grants or scholarships processed within the period.
- Administrative Fees: Supports operations and grantmaking programs of the AAACF
- 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.
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Giving unrestricted support does not mean that there is no accountability! Unrestricted support maintains broad accountability while providing the ultimate flexibility for an organization to achieve its mission—with AAACF, this is expressed through grantmaking that is broad, diverse and constantly adapting to an evolving community. We term our unrestricted funds as Community Impact Funds for this reason. Our competitive grantmaking comprises dozens of such named permanent funds that are collectively pooled for greater impact and distributed as a percentage annually to nonprofit grantees determined by a committee of community volunteers.