Within Fundriver Balance, you have the ability to track non-unitized gifts/assets. These would be assets that belong to a specific fund but are not part of the investment pool. For example: real estate gifted to a specific fund, oil rights, or a life insurance policy. The value of the gift is added to the fund, but does not increase the fund's share of units. Therefore, earnings do not get allocated to the non-unitized asset. Non-unitized assets are included in the total pooled market value. 

 

To record the non-unitized asset's initial balance, enter a transaction type of “Non-Unitized Asset Transfer” by navigating to Accounting > on the Fund Activity page, click Add activity.

On the Add fund activity screen, select the Non-Unitized Asset Transfer transaction type.

 

Note: The Non-Unitized Asset Transfer transaction type does not impact your cash reconciliation or ending pooled market value. 

Below is an example of how the non-unitized asset will appear on the Fund Overview page (under the Funds menu item):

What about reporting?

Non-unitized assets add to the TOTAL Market Value of an endowed pool. To view non-unitized assets, you would need to select a report that displays "Total" value as opposed to pool value. 

The Total Transaction Summary report and the Market Values and Historical Gift report both show non-unitized assets. For footnote disclosures, the Change in Endowment Net Assets (ASU 2016-14) report does include non-unitized assets. The Investment Pool Transaction Summary Report does NOT display non-unitized assets. 

In addition, we have a newer report called the Endowment Transaction Rollfoward Report. It is similar to the Investment Pool Transaction Summary Report, but has an additional column at the end that displays non-unitized assets, shown below. 

 

What about spending?

Our spending interface in Fundriver Balance allows you to either include or exclude non-unitized assets in your calculation. If using a percent average rule, organizations can choose to either average at the fund level, average by units, average by the pooled market value or average by total market value. Averaging by total market value would include non-unitized assets.