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Home > What is the difference between a Fund 520 and a Fund 525 account? Which one should I set up?

What is the difference between a Fund 520 and a Fund 525 account? Which one should I set up? [1]

Reviewing the donor intent and what kind of expenditures are allowed will help decide which fund to use:

  • 520 – Used when expenditures are not restricted to just scholarships.  A 520 can accommodate for scholarships with a function 80.
  • 525 – Used when donor intent states the gift is to be used for scholarship only.
Source URL: https://gao.fo.uiowa.edu/what-difference-between-fund-520-and-fund-525-account-which-one-should-i-set

Links:
[1] https://gao.fo.uiowa.edu/what-difference-between-fund-520-and-fund-525-account-which-one-should-i-set