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I'm on a project where the organization receives corporate donations to offer scholarships for their summer arts camps. When eligible students are found, their event registrations are paid via scholarship. For the donation side, it will come in as a Check or other pay type, and we'll use a "Scholarship" Financial Type. For distributing that money, I think a Payment Instrument of "Scholarship" is best, as the scholarships could be full or partial, with the remainder paid by other means.

So doing this means I can track how the money comes in and is allocated, and I'm guessing the bookkeeper will be keeping an eye on the balance. However I'm a bit stuck accounting-wise for how to present it to her. What kind of Financial Account Type makes sense to go with my new Financial Type and Payment Instrument?

Does this method even make sense, or should I consider using CiviDiscount instead?

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At Administer > CiviContribute > Financial Types create a financial type of 'Scholarship grant revenue' to record the check. This will also create a revenue financial account with the same name that should be edited to have the correct account code etc. Create a financial account of 'Scholarships disbursed' to record the scholarship payments sent out at Administer > CiviContribute Financial Accounts, make it an Expense account, and make other relevant changes such as entering the Account Code.

Ensure the existing Accounts Payable account or another new one is correctly configured with the appropriate account code and other details. Also optionally ensure the bank account from which checks to the scholarship winners will be drawn is correctly configured with its account code, etc.

Go to Financial Types and create a Financial Type also with the name of Scholarships disbursed. Assign the similarly named Financial Account to it as an Expense Account, and the Accounts Payable and optionally the Checking Account as the asset account.

Use CiviGrant to create Grants for the Scholarship recipients.

If desired, install and use the Grant Applicaton Pages extension to accept applications from students.

If desired, install and use the Grant Programs extension to assist in evaluating applications and communicating with applicants, and optionally printing checks.

Export all financial transactions associated with recieving the original check, allocating the grants, and paying the grants at Contributions > Financial Batches.

  • Thanks Joe! Do we need the full grant functionality to achieve this? The goal is to move value from the "Scholarship" revenue account to the "Summer Camp" revenue account. The organization doesn't print checks or give money directly to the scholarship winners; it is applied directly to their event registrations by a back office user (which is why I was considering a Payment Instrument). – Nicholai Apr 27 '15 at 12:19

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