Fund Foundations: Core Concept: What is a Fund

8 STEPS

1. Welcome to the Euna Grants Core Concept training video focused on What is a Fund? Grants terminology in your organization may be different. Let’s review some Euna Grants concepts.

2. A fund is a pool of income for an opportunity. An opportunity is a posted chance to obtain funding, could be competitive, non-competitive or continuation. It's a key building block toward creating your opportunity and awarding recipients funding.

3. You have the ability to make a fund from an organization, individual, or grant. A fund is where the income comes from to create your opportunity. The funder is the entity that is providing that income.

4. While your fund may come from an individual or another grant, many come from organizations. Some examples of organizations include Federal governments, state governments, or specific departments like the department of economic development.

5. The funding entity must be entered as an organization in Euna Grants. You likely did this as part of your master data set up but confirm this before starting the fund setup process.

6. We recommend aligning internally on naming conventions to avoid confusion with multiple funds that may have different spellings or abbreviations for common words.

7. Also, you’ll need to know your target funding amount. This is an estimate and does not impact final funding. The target amount, amount received, fund open and fund closed dates, and organization are required fields to create a fund.

8. Through this Euna Grants Core Concept video you’ve learned about funds. Should you have any additional questions, please visit our support site. Thank you.