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Administrator Guide
Last Updated: 2023-06-23
Steps: Change Investment Pools for Gifts

Steps: Change Investment Pools for Gifts

  • Set up and create at least 2 investment pools for your existing gifts.
  • Purchase holding gift units in an investment pool.
You can change the investment pool for a gift to align with new investment strategies or requirements. Example: You might want to:
  • Optimize investment returns on a different portfolio of funds.
  • Invest in pool units with lower management fees.
  • Invest in pools that support new philanthropic or financial goals for the gift.
You can select a different investment pool directly on a noninvested gift. Once you've performed activities such as pool unit purchases or valuations, instead you:
  • Sell the gift units from the original investment pool.
  • Create a new gift to repurchase units of equivalent value in the new investment pool.
  1. Sell the gift units from the original investment pool. Example: You sell the total number of gift units for a book value of $100.00 and fair market value of $110.00.
  2. Create a new gift with the same attributes and attachments that are on the original gift. You can also use the
    Submit Gift
     web service to add or update large numbers of gifts.
  3. Access the
    Create Donor Contribution
     task.
    Record donor contributions for the new gift based on the book value of the number of units sold. Example: You record donor contributions for the original gift book value of $100.00.
    Configure the
    Donor Contribution Event
     business process and corresponding security policy in the Financials: Cash and Settlements: Cash Management functional area.
  4. Purchase units using the donor contributions for the new gift in the new investment pool.
  5. (Optional) Access the
    Adjust Gift Units
     task.
    Adjust the total number of gift units up or down to match the difference between the book value and fair market value of the original gift.
    Example: The difference between the book value and fair market value of the original gift is $10.00. When you enter this amount as the
    Fair Market Value to Adjust
    , Workday automatically updates the unit adjustment based on the valuation of the new investment pool.
    Configure the
    Investment Pool Adjustment Event
     business process and corresponding security policy in the Financials: Cash and Settlements: Cash Management functional area.
Workday captures the investment activities for the new gift and investment pool. The accounting details for the original gift indicate its closure in the original investment pool.
You can view these reports to compare the balances on the new and original gifts:
  • Gift Balance
  • Gift Share Balance