A merge funds feature is available in Fundriver. Using this feature will automatically create system generated transactions to move the historical gift balance and earnings to the remaining open fund.

NOTE: Merging occurs as of the prior posting period. If your organization is using an end of the month pricing model, we recommend deactivating the fund and transferring the balance to an existing fund. Instructions on how to deactivate and transfer a fund balance can be found here

Funds must be in the same investment pool to be merged. 

The steps outlined below are for clients with standard database setup. If you have a customized database please contact support@fundriver.com for assistance merging a fund. 

Steps to merge a fund are outlined below. 

1. Go to ORGANIZE > FUNDS, click on the MERGE FUNDS tab.

2. Enter the fund that is to be closed and the one into which the fund will be merged. The merge will occur as of your last posting period.

Click MERGE to complete the process.

Once a fund is merged, Fundriver will automatically create system generated transactions to move the historical gift balance and earnings to the remaining open fund. The transactions created by Fundriver will include a note of "Merging Endowment to XXX."  

NOTE: user's are not able to delete or modify the system generated transactions that are produced from merging a fund. If a fund needs to be unmerged, user would need to reopen to prior period.  By doing so, fund will reopen/unmerge and system generated transactions are erased.

When you merge funds, make sure to follow the steps below to redirect the distributions that may be generated by the closing fund, if applicable. 

3. Newer databases have a spending rule type called Percent Average V2:

If you assign your merged fund to a spending rule with this type, Fundriver will take the old history and include it in the spending calculation for the new fund. This will capture the combined Market Value for average values needed to determine spending. 

If your database does not have a Percent Average V2 spending type, contact Support at support@fundriver.com to determine if this can be added. 

For older clients, please continue and follow steps 4 - 6 below. If you have Percent Average V2 spending type, you are done! No need to follow these additional steps.

4. A DISTRIBUTION RULE needs to be set up on the fund that is being closed (either prior to or after fund closure, but before creating distributions). To add a DISTRIBUTION RULE, navigate to the Fund Profile for the closing fund and expand the DISTRIBUTION ACCOUNT tab. Click the green ADD button to add a rule

5. Set up the distribution rule to DISTRIBUTE ALL (as shown below--keep AMOUNT as 0.00). The INTERNAL DESTINATION should have the name of the fund into which the closing fund will be merging.

If your organization utilizes a GL Export for distributions, the Destination ID, Fund, Program, and Project should mimic what is set up on the internal destination fund.  

NOTE:  It may be helpful to take a screen shot of the destination fund for your reference during this process.

In cases where the Destination, Fund, Project, etc. are already the same (due to how the DISTRIBUTION RULE was previously set up), then only the INTERNAL DESTINATION needs to be modified.

6. Once the DISTRIBUTION RULE is set up for all funds being merged, distributions can be generated by navigating to ACTIVITY DISTRIBUTE and creating distributions.