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Gift funds - frequently asked questions

What is a fund?

Generally, a fund is a stock or sum of money set apart for a specific purpose. The ways in which this might be set apart can vary.

A fund is not merely a set of accounting entries. If gifts are not set apart from other property of the deductible gift recipient (DGR), it would be very difficult to show the existence of any fund that could be a gift fund. In particular, if gifts of money are not set apart, and all the DGR's money is mixed together, there is no fund specifically catering for gifts.