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An unrestricted designated fund is established to separate and track certain activities; and/or to segregate amounts received for a special purpose, but which are not considered a gift, endowment or sponsored research. The most common distinguishing feature of unrestricted designated funds from gifts and endowments is that they are typically received in exchange for goods or services. They are distinguished from sponsored funds in that they do not meet any of the sponsored criteria - (see Link to Criteria to Differentiate between Sponsored Funds and Current Use Gift Funds in the Gift Section of this site).

Examples of common unrestricted designated fund purposes include:

  • Royalty Fund under the direction of a named faculty member - purpose is to use royalty income to offset research expenses.
  • Income transferred from another Harvard unrestricted account to support a specific activity.
  • Funds released by Tenured Faculty Salary Transfer - Account to be used to support research activities under the direction of a named faculty member
  • Publication fees used to offset costs of a book.

Funding for this type of account comes from various sources including income from services rendered such as consulting, editing, honorarium, reimbursements from affiliation hospitals, income from courses offered, etc.

Like current use gift, endowment and sponsored funds, unrestricted designated funds which remain unexpended at year-end are carried forward separately to the next fiscal year.

The Chart of Accounts range for unrestricted designated funds at HMS is 024000 - 028999 and we currently have approximately 350 such funds.

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How to Establish an Unrestricted Designated Fund
Please contact Mike Harty at 617-432-3289 or via e-mail at mike_harty@hms.harvard.edu to discuss the establishment of a new unrestricted designated fund. Please be prepared to discuss:

  • The purpose of the fund. Copies of pertinent documents describing this purpose should be forwarded to Mike.
  • The funding source. This can be a check or checks from outside entities or an existing unrestricted fund from which amounts will be transfered to create the new fund.

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Harvard Medical School. Last Updated: Aug 2004. Send feedback to: foa@hms.harvard.edu