Set up renewal portfolios
To create renewable awards in your system, you'll want to update:
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Individual portfolios
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System settings
Note: Only certain subscriptions have access to renewable awards.
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A renewable award portfolio functions almost the same as a regular award portfolio, but with a few small differences.
To create a renewable award portfolio:
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Create a new portfolio.
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The initial opportunity serves as the "gateway" into the renewable award. For more context, see How renewable awards work.
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For more guidance on creating portfolios, see Create a new portfolio.
Note: You can only use Apply-to or Auto-match opportunities for renewable awards.
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On the portfolio record, go to the Details tab.
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Under Renewal Settings, Enter the following information:
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Award Iterations: Sets the total number of award disbursements included in the renewable award
Note: The Award Iterations includes the initial opportunity award. So, if you're planning an award given to Freshman, renewed once per year, and lasting four years, you'd have 4 iterations.
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Disbursement Periods: Sets the dates for each renewal opportunity:
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Start Date: When new renewal applications will be generated. Must be at least one day in the future.
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End Date: Provides deadline for applicant responses. Only necessary if collecting additional information from General Applications or supplemental renewal questions
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Selective Renewals: For more information, see Use selective renewal disbursements
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Add Another: Use if your award renews more than once per year
Note: Disbursement periods don't include years because they're intended to work across multiple years.
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Anticipated Total Amount: Specifies the dollar amount an applicant can expect to receive over the full duration of an award (as long the applicant stays in compliance)
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Anticipated Total Amount Applicant Visible?: Decide whether to show this amount to applicants
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Renewals start at: Enter a renewal start date for opportunities. Renewal applications are created for awards on opportunities that start after the specified date.
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Select Update Portfolio.
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To deal with special circumstances around renewable awards, you may want to create custom renewal categories.
These categories take advantage of the special Award Effects attached to Renewal Management & Post-Acceptance categories:
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Disburses Funds
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Disburses Funds, Then Cancels Future Disbursements: Often used as a final category
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Defers Current Disbursement: Doesn't award funds, but also doesn't use an award iteration
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Cancels Current and Future Disbursements: Often used if applicants fall way out of compliance
Tip: For more guidance on categories, see Manage application categories.
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To specifies a date to cancel remaining iterations of a renewable award (i.e., graduation date), see Renewal termination date.
To adjust the following settings, contact Blackbaud Support:
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First Renewal Application Offset: Prevents an applicant from receiving a renewal too soon after receiving the initial opportunity award
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Renewal Application Termination Offset: Prevents an applicant from receiving a renewal scheduled too close to their termination date
Tip: For more on cloning and archiving renewable awards, see Clone and archive renewal opportunities.