diff --git a/resources/sql/autopatches/20140911.fund.1.initiative.sql b/resources/sql/autopatches/20140911.fund.1.initiative.sql
new file mode 100644
index 0000000000..8e170dbcb0
--- /dev/null
+++ b/resources/sql/autopatches/20140911.fund.1.initiative.sql
@@ -0,0 +1,15 @@
+CREATE TABLE {$NAMESPACE}_fund.fund_initiative (
+  id INT UNSIGNED NOT NULL AUTO_INCREMENT PRIMARY KEY,
+  phid VARCHAR(64) NOT NULL COLLATE utf8_bin,
+  name VARCHAR(255) NOT NULL,
+  ownerPHID VARCHAR(64) NOT NULL COLLATE utf8_bin,
+  description LONGTEXT NOT NULL,
+  viewPolicy VARCHAR(64) NOT NULL COLLATE utf8_bin,
+  editPolicy VARCHAR(64) NOT NULL COLLATE utf8_bin,
+  status VARCHAR(32) NOT NULL COLLATE utf8_bin,
+  dateCreated INT UNSIGNED NOT NULL,
+  dateModified INT UNSIGNED NOT NULL,
+  UNIQUE KEY `key_phid` (phid),
+  KEY `key_status` (status),
+  KEY `key_owner` (ownerPHID)
+) ENGINE=InnoDB, COLLATE utf8_general_ci;
diff --git a/resources/sql/autopatches/20140911.fund.2.xaction.sql b/resources/sql/autopatches/20140911.fund.2.xaction.sql
new file mode 100644
index 0000000000..bfa3f9c3e2
--- /dev/null
+++ b/resources/sql/autopatches/20140911.fund.2.xaction.sql
@@ -0,0 +1,19 @@
+CREATE TABLE {$NAMESPACE}_fund.fund_initiativetransaction (
+  id INT UNSIGNED NOT NULL AUTO_INCREMENT PRIMARY KEY,
+  phid VARCHAR(64) COLLATE utf8_bin NOT NULL,
+  authorPHID VARCHAR(64) COLLATE utf8_bin NOT NULL,
+  objectPHID VARCHAR(64) COLLATE utf8_bin NOT NULL,
+  viewPolicy VARCHAR(64) COLLATE utf8_bin NOT NULL,
+  editPolicy VARCHAR(64) COLLATE utf8_bin NOT NULL,
+  commentPHID VARCHAR(64) COLLATE utf8_bin DEFAULT NULL,
+  commentVersion INT UNSIGNED NOT NULL,
+  transactionType VARCHAR(32) COLLATE utf8_bin NOT NULL,
+  oldValue LONGTEXT COLLATE utf8_bin NOT NULL,
+  newValue LONGTEXT COLLATE utf8_bin NOT NULL,
+  contentSource LONGTEXT COLLATE utf8_bin NOT NULL,
+  metadata LONGTEXT COLLATE utf8_bin NOT NULL,
+  dateCreated INT UNSIGNED NOT NULL,
+  dateModified INT UNSIGNED NOT NULL,
+  UNIQUE KEY `key_phid` (`phid`),
+  KEY `key_object` (`objectPHID`)
+) ENGINE=InnoDB, COLLATE utf8_general_ci;
diff --git a/resources/sql/autopatches/20140911.fund.3.edge.sql b/resources/sql/autopatches/20140911.fund.3.edge.sql
new file mode 100644
index 0000000000..0dc5821762
--- /dev/null
+++ b/resources/sql/autopatches/20140911.fund.3.edge.sql
@@ -0,0 +1,15 @@
+CREATE TABLE {$NAMESPACE}_fund.edge (
+  src VARCHAR(64) NOT NULL COLLATE utf8_bin,
+  type VARCHAR(64) NOT NULL COLLATE utf8_bin,
+  dst VARCHAR(64) NOT NULL COLLATE utf8_bin,
+  dateCreated INT UNSIGNED NOT NULL,
+  seq INT UNSIGNED NOT NULL,
+  dataID INT UNSIGNED,
+  PRIMARY KEY (src, type, dst),
+  KEY (src, type, dateCreated, seq)
+) ENGINE=InnoDB, COLLATE utf8_general_ci;
+
+CREATE TABLE {$NAMESPACE}_fund.edgedata (
+  id INT UNSIGNED NOT NULL PRIMARY KEY AUTO_INCREMENT,
+  data LONGTEXT NOT NULL COLLATE utf8_bin
+) ENGINE=InnoDB, COLLATE utf8_general_ci;
diff --git a/src/__phutil_library_map__.php b/src/__phutil_library_map__.php
index 223d33207e..5be56d262c 100644
--- a/src/__phutil_library_map__.php
+++ b/src/__phutil_library_map__.php
@@ -654,6 +654,28 @@ phutil_register_library_map(array(
     'FlagDeleteConduitAPIMethod' => 'applications/flag/conduit/FlagDeleteConduitAPIMethod.php',
     'FlagEditConduitAPIMethod' => 'applications/flag/conduit/FlagEditConduitAPIMethod.php',
     'FlagQueryConduitAPIMethod' => 'applications/flag/conduit/FlagQueryConduitAPIMethod.php',
+    'FundBacking' => 'applications/fund/storage/FundBacking.php',
+    'FundBackingEditor' => 'applications/fund/editor/FundBackingEditor.php',
+    'FundBackingPHIDType' => 'applications/fund/phid/FundBackingPHIDType.php',
+    'FundBackingQuery' => 'applications/fund/query/FundBackingQuery.php',
+    'FundBackingTransaction' => 'applications/fund/storage/FundBackingTransaction.php',
+    'FundBackingTransactionQuery' => 'applications/fund/query/FundBackingTransactionQuery.php',
+    'FundController' => 'applications/fund/controller/FundController.php',
+    'FundCreateInitiativesCapability' => 'applications/fund/capability/FundCreateInitiativesCapability.php',
+    'FundDAO' => 'applications/fund/storage/FundDAO.php',
+    'FundDefaultViewCapability' => 'applications/fund/capability/FundDefaultViewCapability.php',
+    'FundInitiative' => 'applications/fund/storage/FundInitiative.php',
+    'FundInitiativeCloseController' => 'applications/fund/controller/FundInitiativeCloseController.php',
+    'FundInitiativeEditController' => 'applications/fund/controller/FundInitiativeEditController.php',
+    'FundInitiativeEditor' => 'applications/fund/editor/FundInitiativeEditor.php',
+    'FundInitiativeListController' => 'applications/fund/controller/FundInitiativeListController.php',
+    'FundInitiativePHIDType' => 'applications/fund/phid/FundInitiativePHIDType.php',
+    'FundInitiativeQuery' => 'applications/fund/query/FundInitiativeQuery.php',
+    'FundInitiativeRemarkupRule' => 'applications/fund/remarkup/FundInitiativeRemarkupRule.php',
+    'FundInitiativeSearchEngine' => 'applications/fund/query/FundInitiativeSearchEngine.php',
+    'FundInitiativeTransaction' => 'applications/fund/storage/FundInitiativeTransaction.php',
+    'FundInitiativeTransactionQuery' => 'applications/fund/query/FundInitiativeTransactionQuery.php',
+    'FundInitiativeViewController' => 'applications/fund/controller/FundInitiativeViewController.php',
     'HarbormasterBuild' => 'applications/harbormaster/storage/build/HarbormasterBuild.php',
     'HarbormasterBuildAbortedException' => 'applications/harbormaster/exception/HarbormasterBuildAbortedException.php',
     'HarbormasterBuildActionController' => 'applications/harbormaster/controller/HarbormasterBuildActionController.php',
@@ -1600,6 +1622,7 @@ phutil_register_library_map(array(
     'PhabricatorFlagsApplication' => 'applications/flag/application/PhabricatorFlagsApplication.php',
     'PhabricatorFlagsUIEventListener' => 'applications/flag/events/PhabricatorFlagsUIEventListener.php',
     'PhabricatorFormExample' => 'applications/uiexample/examples/PhabricatorFormExample.php',
+    'PhabricatorFundApplication' => 'applications/fund/application/PhabricatorFundApplication.php',
     'PhabricatorGarbageCollector' => 'infrastructure/daemon/garbagecollector/PhabricatorGarbageCollector.php',
     'PhabricatorGarbageCollectorConfigOptions' => 'applications/config/option/PhabricatorGarbageCollectorConfigOptions.php',
     'PhabricatorGarbageCollectorDaemon' => 'infrastructure/daemon/garbagecollector/PhabricatorGarbageCollectorDaemon.php',
@@ -3422,6 +3445,42 @@ phutil_register_library_map(array(
     'FlagDeleteConduitAPIMethod' => 'FlagConduitAPIMethod',
     'FlagEditConduitAPIMethod' => 'FlagConduitAPIMethod',
     'FlagQueryConduitAPIMethod' => 'FlagConduitAPIMethod',
+    'FundBacking' => array(
+      'FundDAO',
+      'PhabricatorPolicyInterface',
+      'PhabricatorApplicationTransactionInterface',
+    ),
+    'FundBackingEditor' => 'PhabricatorApplicationTransactionEditor',
+    'FundBackingPHIDType' => 'PhabricatorPHIDType',
+    'FundBackingQuery' => 'PhabricatorCursorPagedPolicyAwareQuery',
+    'FundBackingTransaction' => 'PhabricatorApplicationTransaction',
+    'FundBackingTransactionQuery' => 'PhabricatorApplicationTransactionQuery',
+    'FundController' => 'PhabricatorController',
+    'FundCreateInitiativesCapability' => 'PhabricatorPolicyCapability',
+    'FundDAO' => 'PhabricatorLiskDAO',
+    'FundDefaultViewCapability' => 'PhabricatorPolicyCapability',
+    'FundInitiative' => array(
+      'FundDAO',
+      'PhabricatorPolicyInterface',
+      'PhabricatorProjectInterface',
+      'PhabricatorApplicationTransactionInterface',
+      'PhabricatorSubscribableInterface',
+      'PhabricatorMentionableInterface',
+      'PhabricatorFlaggableInterface',
+      'PhabricatorTokenReceiverInterface',
+      'PhabricatorDestructibleInterface',
+    ),
+    'FundInitiativeCloseController' => 'FundController',
+    'FundInitiativeEditController' => 'FundController',
+    'FundInitiativeEditor' => 'PhabricatorApplicationTransactionEditor',
+    'FundInitiativeListController' => 'FundController',
+    'FundInitiativePHIDType' => 'PhabricatorPHIDType',
+    'FundInitiativeQuery' => 'PhabricatorCursorPagedPolicyAwareQuery',
+    'FundInitiativeRemarkupRule' => 'PhabricatorObjectRemarkupRule',
+    'FundInitiativeSearchEngine' => 'PhabricatorApplicationSearchEngine',
+    'FundInitiativeTransaction' => 'PhabricatorApplicationTransaction',
+    'FundInitiativeTransactionQuery' => 'PhabricatorApplicationTransactionQuery',
+    'FundInitiativeViewController' => 'FundController',
     'HarbormasterBuild' => array(
       'HarbormasterDAO',
       'PhabricatorPolicyInterface',
@@ -4465,6 +4524,7 @@ phutil_register_library_map(array(
     'PhabricatorFlagsApplication' => 'PhabricatorApplication',
     'PhabricatorFlagsUIEventListener' => 'PhabricatorEventListener',
     'PhabricatorFormExample' => 'PhabricatorUIExample',
+    'PhabricatorFundApplication' => 'PhabricatorApplication',
     'PhabricatorGarbageCollector' => 'Phobject',
     'PhabricatorGarbageCollectorConfigOptions' => 'PhabricatorApplicationConfigOptions',
     'PhabricatorGarbageCollectorDaemon' => 'PhabricatorDaemon',
diff --git a/src/applications/fund/application/PhabricatorFundApplication.php b/src/applications/fund/application/PhabricatorFundApplication.php
new file mode 100644
index 0000000000..38da9b812a
--- /dev/null
+++ b/src/applications/fund/application/PhabricatorFundApplication.php
@@ -0,0 +1,62 @@
+<?php
+
+final class PhabricatorFundApplication extends PhabricatorApplication {
+
+  public function getName() {
+    return pht('Fund');
+  }
+
+  public function getBaseURI() {
+    return '/fund/';
+  }
+
+  public function getShortDescription() {
+    return pht('Donate');
+  }
+
+  public function getIconName() {
+    return 'phund';
+  }
+
+  public function getTitleGlyph() {
+    return "\xE2\x99\xA5";
+  }
+
+  public function getApplicationGroup() {
+    return self::GROUP_UTILITIES;
+  }
+
+  public function isBeta() {
+    return true;
+  }
+
+  public function getRemarkupRules() {
+    return array(
+      new FundInitiativeRemarkupRule(),
+    );
+  }
+
+  public function getRoutes() {
+    return array(
+      '/I(?P<id>[1-9]\d*)' => 'FundInitiativeViewController',
+      '/fund/' => array(
+        '(?:query/(?P<queryKey>[^/]+)/)?' => 'FundInitiativeListController',
+        'create/' => 'FundInitiativeEditController',
+        'edit/(?:(?P<id>[^/]+)/)?' => 'FundInitiativeEditController',
+        'close/(?P<id>[^/]+)/' => 'FundInitiativeCloseController',
+      ),
+    );
+  }
+
+  protected function getCustomCapabilities() {
+    return array(
+      FundDefaultViewCapability::CAPABILITY => array(
+        'caption' => pht('Default view policy for newly created initiatives.'),
+      ),
+      FundCreateInitiativesCapability::CAPABILITY => array(
+        'default' => PhabricatorPolicies::POLICY_ADMIN,
+      ),
+    );
+  }
+
+}
diff --git a/src/applications/fund/capability/FundCreateInitiativesCapability.php b/src/applications/fund/capability/FundCreateInitiativesCapability.php
new file mode 100644
index 0000000000..d9371aceab
--- /dev/null
+++ b/src/applications/fund/capability/FundCreateInitiativesCapability.php
@@ -0,0 +1,16 @@
+<?php
+
+final class FundCreateInitiativesCapability
+  extends PhabricatorPolicyCapability {
+
+  const CAPABILITY = 'fund.create';
+
+  public function getCapabilityName() {
+    return pht('Can Create Initiatives');
+  }
+
+  public function describeCapabilityRejection() {
+    return pht('You do not have permission to create Fund initiatives.');
+  }
+
+}
diff --git a/src/applications/fund/capability/FundDefaultViewCapability.php b/src/applications/fund/capability/FundDefaultViewCapability.php
new file mode 100644
index 0000000000..b87deea731
--- /dev/null
+++ b/src/applications/fund/capability/FundDefaultViewCapability.php
@@ -0,0 +1,15 @@
+<?php
+
+final class FundDefaultViewCapability extends PhabricatorPolicyCapability {
+
+  const CAPABILITY = 'fund.default.view';
+
+  public function getCapabilityName() {
+    return pht('Default View Policy');
+  }
+
+  public function shouldAllowPublicPolicySetting() {
+    return true;
+  }
+
+}
diff --git a/src/applications/fund/controller/FundController.php b/src/applications/fund/controller/FundController.php
new file mode 100644
index 0000000000..a3ae0ab891
--- /dev/null
+++ b/src/applications/fund/controller/FundController.php
@@ -0,0 +1,3 @@
+<?php
+
+abstract class FundController extends PhabricatorController {}
diff --git a/src/applications/fund/controller/FundInitiativeCloseController.php b/src/applications/fund/controller/FundInitiativeCloseController.php
new file mode 100644
index 0000000000..860f52707b
--- /dev/null
+++ b/src/applications/fund/controller/FundInitiativeCloseController.php
@@ -0,0 +1,73 @@
+<?php
+
+final class FundInitiativeCloseController
+  extends FundController {
+
+  private $id;
+
+  public function willProcessRequest(array $data) {
+    $this->id = $data['id'];
+  }
+
+  public function processRequest() {
+    $request = $this->getRequest();
+    $viewer = $request->getUser();
+
+    $initiative = id(new FundInitiativeQuery())
+      ->setViewer($viewer)
+      ->withIDs(array($this->id))
+      ->requireCapabilities(
+        array(
+          PhabricatorPolicyCapability::CAN_VIEW,
+          PhabricatorPolicyCapability::CAN_EDIT,
+        ))
+      ->executeOne();
+    if (!$initiative) {
+      return new Aphront404Response();
+    }
+
+    $initiative_uri = '/'.$initiative->getMonogram();
+
+    $is_close = !$initiative->isClosed();
+
+    if ($request->isFormPost()) {
+      $type_status = FundInitiativeTransaction::TYPE_STATUS;
+
+      if ($is_close) {
+        $new_status = FundInitiative::STATUS_CLOSED;
+      } else {
+        $new_status = FundInitiative::STATUS_OPEN;
+      }
+
+      $xaction = id(new FundInitiativeTransaction())
+        ->setTransactionType($type_status)
+        ->setNewValue($new_status);
+
+      $editor = id(new FundInitiativeEditor())
+        ->setActor($viewer)
+        ->setContentSourceFromRequest($request)
+        ->setContinueOnMissingFields(true);
+
+      $editor->applyTransactions($initiative, array($xaction));
+
+      return id(new AphrontRedirectResponse())->setURI($initiative_uri);
+    }
+
+    if ($is_close) {
+      $title = pht('Close Initiative?');
+      $body = pht('Really close this initiative?');
+      $button_text = pht('Close Initiative');
+    } else {
+      $title = pht('Reopen Initiative?');
+      $body = pht('Really reopen this initiative?');
+      $button_text = pht('Reopen Initiative');
+    }
+
+    return $this->newDialog()
+      ->setTitle($title)
+      ->appendParagraph($body)
+      ->addCancelButton($initiative_uri)
+      ->addSubmitButton($button_text);
+  }
+
+}
diff --git a/src/applications/fund/controller/FundInitiativeEditController.php b/src/applications/fund/controller/FundInitiativeEditController.php
new file mode 100644
index 0000000000..292f21b1a1
--- /dev/null
+++ b/src/applications/fund/controller/FundInitiativeEditController.php
@@ -0,0 +1,191 @@
+<?php
+
+final class FundInitiativeEditController
+  extends FundController {
+
+  private $id;
+
+  public function willProcessRequest(array $data) {
+    $this->id = idx($data, 'id');
+  }
+
+  public function processRequest() {
+    $request = $this->getRequest();
+    $viewer = $request->getUser();
+
+    if ($this->id) {
+      $initiative = id(new FundInitiativeQuery())
+        ->setViewer($viewer)
+        ->withIDs(array($this->id))
+        ->requireCapabilities(
+          array(
+            PhabricatorPolicyCapability::CAN_VIEW,
+            PhabricatorPolicyCapability::CAN_EDIT,
+          ))
+        ->executeOne();
+      if (!$initiative) {
+        return new Aphront404Response();
+      }
+      $is_new = false;
+    } else {
+      $initiative = FundInitiative::initializeNewInitiative($viewer);
+      $is_new = true;
+    }
+
+    if ($is_new) {
+      $title = pht('Create Initiative');
+      $button_text = pht('Create Initiative');
+      $cancel_uri = $this->getApplicationURI();
+    } else {
+      $title = pht(
+        'Edit %s %s',
+        $initiative->getMonogram(),
+        $initiative->getName());
+      $button_text = pht('Save Changes');
+      $cancel_uri = '/'.$initiative->getMonogram();
+    }
+
+    $e_name = true;
+    $v_name = $initiative->getName();
+
+    $v_desc = $initiative->getDescription();
+
+    if ($is_new) {
+      $v_projects = array();
+    } else {
+      $v_projects = PhabricatorEdgeQuery::loadDestinationPHIDs(
+        $initiative->getPHID(),
+        PhabricatorProjectObjectHasProjectEdgeType::EDGECONST);
+      $v_projects = array_reverse($v_projects);
+    }
+
+    $validation_exception = null;
+    if ($request->isFormPost()) {
+      $v_name = $request->getStr('name');
+      $v_desc = $request->getStr('description');
+      $v_view = $request->getStr('viewPolicy');
+      $v_edit = $request->getStr('editPolicy');
+      $v_projects = $request->getArr('projects');
+
+      $type_name = FundInitiativeTransaction::TYPE_NAME;
+      $type_desc = FundInitiativeTransaction::TYPE_DESCRIPTION;
+      $type_view = PhabricatorTransactions::TYPE_VIEW_POLICY;
+      $type_edit = PhabricatorTransactions::TYPE_EDIT_POLICY;
+
+      $xactions = array();
+
+      $xactions[] = id(new FundInitiativeTransaction())
+        ->setTransactionType($type_name)
+        ->setNewValue($v_name);
+
+      $xactions[] = id(new FundInitiativeTransaction())
+        ->setTransactionType($type_desc)
+        ->setNewValue($v_desc);
+
+      $xactions[] = id(new FundInitiativeTransaction())
+        ->setTransactionType($type_view)
+        ->setNewValue($v_view);
+
+      $xactions[] = id(new FundInitiativeTransaction())
+        ->setTransactionType($type_edit)
+        ->setNewValue($v_edit);
+
+      $proj_edge_type = PhabricatorProjectObjectHasProjectEdgeType::EDGECONST;
+      $xactions[] = id(new FundInitiativeTransaction())
+        ->setTransactionType(PhabricatorTransactions::TYPE_EDGE)
+        ->setMetadataValue('edge:type', $proj_edge_type)
+        ->setNewValue(array('=' => array_fuse($v_projects)));
+
+      $editor = id(new FundInitiativeEditor())
+        ->setActor($viewer)
+        ->setContentSourceFromRequest($request)
+        ->setContinueOnNoEffect(true);
+
+      try {
+        $editor->applyTransactions($initiative, $xactions);
+
+        return id(new AphrontRedirectResponse())
+          ->setURI('/'.$initiative->getMonogram());
+      } catch (PhabricatorApplicationTransactionValidationException $ex) {
+        $validation_exception = $ex;
+
+        $e_name = $ex->getShortMessage($type_name);
+
+        $initiative->setViewPolicy($v_view);
+        $initiative->setEditPolicy($v_edit);
+      }
+    }
+
+    $policies = id(new PhabricatorPolicyQuery())
+      ->setViewer($viewer)
+      ->setObject($initiative)
+      ->execute();
+
+    if ($v_projects) {
+      $project_handles = $this->loadViewerHandles($v_projects);
+    } else {
+      $project_handles = array();
+    }
+
+    $form = id(new AphrontFormView())
+      ->setUser($viewer)
+      ->appendChild(
+        id(new AphrontFormTextControl())
+          ->setName('name')
+          ->setLabel(pht('Name'))
+          ->setValue($v_name)
+          ->setError($e_name))
+      ->appendChild(
+        id(new PhabricatorRemarkupControl())
+          ->setName('description')
+          ->setLabel(pht('Description'))
+          ->setValue($v_desc))
+      ->appendChild(
+        id(new AphrontFormTokenizerControl())
+          ->setLabel(pht('Projects'))
+          ->setName('projects')
+          ->setValue($project_handles)
+          ->setDatasource(new PhabricatorProjectDatasource()))
+      ->appendChild(
+        id(new AphrontFormPolicyControl())
+          ->setName('viewPolicy')
+          ->setPolicyObject($initiative)
+          ->setCapability(PhabricatorPolicyCapability::CAN_VIEW)
+          ->setPolicies($policies))
+      ->appendChild(
+        id(new AphrontFormPolicyControl())
+          ->setName('editPolicy')
+          ->setPolicyObject($initiative)
+          ->setCapability(PhabricatorPolicyCapability::CAN_EDIT)
+          ->setPolicies($policies))
+      ->appendChild(
+        id(new AphrontFormSubmitControl())
+          ->setValue($button_text)
+          ->addCancelButton($cancel_uri));
+
+    $crumbs = $this->buildApplicationCrumbs();
+    if ($is_new) {
+      $crumbs->addTextCrumb(pht('Create Initiative'));
+    } else {
+      $crumbs->addTextCrumb(
+        $initiative->getMonogram(),
+        '/'.$initiative->getMonogram());
+      $crumbs->addTextCrumb(pht('Edit'));
+    }
+
+    $box = id(new PHUIObjectBoxView())
+      ->setValidationException($validation_exception)
+      ->setHeaderText($title)
+      ->appendChild($form);
+
+    return $this->buildApplicationPage(
+      array(
+        $crumbs,
+        $box,
+      ),
+      array(
+        'title' => $title,
+      ));
+  }
+
+}
diff --git a/src/applications/fund/controller/FundInitiativeListController.php b/src/applications/fund/controller/FundInitiativeListController.php
new file mode 100644
index 0000000000..c14bf986cc
--- /dev/null
+++ b/src/applications/fund/controller/FundInitiativeListController.php
@@ -0,0 +1,53 @@
+<?php
+
+final class FundInitiativeListController
+  extends FundController {
+
+  private $queryKey;
+
+  public function willProcessRequest(array $data) {
+    $this->queryKey = idx($data, 'queryKey');
+  }
+
+  public function processRequest() {
+    $request = $this->getRequest();
+    $controller = id(new PhabricatorApplicationSearchController($request))
+      ->setQueryKey($this->queryKey)
+      ->setSearchEngine(new FundInitiativeSearchEngine())
+      ->setNavigation($this->buildSideNavView());
+
+    return $this->delegateToController($controller);
+  }
+
+  public function buildSideNavView() {
+    $user = $this->getRequest()->getUser();
+
+    $nav = new AphrontSideNavFilterView();
+    $nav->setBaseURI(new PhutilURI($this->getApplicationURI()));
+
+    id(new FundInitiativeSearchEngine())
+      ->setViewer($user)
+      ->addNavigationItems($nav->getMenu());
+    $nav->selectFilter(null);
+
+    return $nav;
+  }
+
+  public function buildApplicationCrumbs() {
+    $crumbs = parent::buildApplicationCrumbs();
+
+    $can_create = $this->hasApplicationCapability(
+      FundCreateInitiativesCapability::CAPABILITY);
+
+    $crumbs->addAction(
+      id(new PHUIListItemView())
+        ->setName(pht('Create Initiative'))
+        ->setHref($this->getApplicationURI('create/'))
+        ->setIcon('fa-plus-square')
+        ->setDisabled(!$can_create)
+        ->setWorkflow(!$can_create));
+
+    return $crumbs;
+  }
+
+}
diff --git a/src/applications/fund/controller/FundInitiativeViewController.php b/src/applications/fund/controller/FundInitiativeViewController.php
new file mode 100644
index 0000000000..794380e409
--- /dev/null
+++ b/src/applications/fund/controller/FundInitiativeViewController.php
@@ -0,0 +1,149 @@
+<?php
+
+final class FundInitiativeViewController
+  extends FundController {
+
+  private $id;
+
+  public function willProcessRequest(array $data) {
+    $this->id = $data['id'];
+  }
+
+  public function processRequest() {
+    $request = $this->getRequest();
+    $viewer = $request->getUser();
+
+    $initiative = id(new FundInitiativeQuery())
+      ->setViewer($viewer)
+      ->withIDs(array($this->id))
+      ->executeOne();
+    if (!$initiative) {
+      return new Aphront404Response();
+    }
+
+    $crumbs = $this->buildApplicationCrumbs();
+    $crumbs->addTextCrumb($initiative->getMonogram());
+
+    $title = pht(
+      '%s %s',
+      $initiative->getMonogram(),
+      $initiative->getName());
+
+    if ($initiative->isClosed()) {
+      $status_icon = 'fa-times';
+      $status_color = 'bluegrey';
+    } else {
+      $status_icon = 'fa-check';
+      $status_color = 'bluegrey';
+    }
+    $status_name = idx(
+      FundInitiative::getStatusNameMap(),
+      $initiative->getStatus());
+
+    $header = id(new PHUIHeaderView())
+      ->setObjectName($initiative->getMonogram())
+      ->setHeader($initiative->getName())
+      ->setUser($viewer)
+      ->setPolicyObject($initiative)
+      ->setStatus($status_icon, $status_color, $status_name);
+
+    $properties = $this->buildPropertyListView($initiative);
+    $actions = $this->buildActionListView($initiative);
+    $properties->setActionList($actions);
+
+    $box = id(new PHUIObjectBoxView())
+      ->setHeader($header)
+      ->appendChild($properties);
+
+    $xactions = id(new FundInitiativeTransactionQuery())
+      ->setViewer($viewer)
+      ->withObjectPHIDs(array($initiative->getPHID()))
+      ->execute();
+
+    $timeline = id(new PhabricatorApplicationTransactionView())
+      ->setUser($viewer)
+      ->setObjectPHID($initiative->getPHID())
+      ->setTransactions($xactions);
+
+    return $this->buildApplicationPage(
+      array(
+        $crumbs,
+        $box,
+        $timeline,
+      ),
+      array(
+        'title' => $title,
+      ));
+  }
+
+  private function buildPropertyListView(FundInitiative $initiative) {
+    $viewer = $this->getRequest()->getUser();
+
+    $view = id(new PHUIPropertyListView())
+      ->setUser($viewer)
+      ->setObject($initiative);
+
+    $owner_phid = $initiative->getOwnerPHID();
+    $this->loadHandles(array($owner_phid));
+
+    $view->addProperty(
+      pht('Owner'),
+      $this->getHandle($owner_phid)->renderLink());
+
+    $view->invokeWillRenderEvent();
+
+    $description = $initiative->getDescription();
+    if (strlen($description)) {
+      $description = PhabricatorMarkupEngine::renderOneObject(
+        id(new PhabricatorMarkupOneOff())->setContent($description),
+        'default',
+        $viewer);
+
+      $view->addSectionHeader(pht('Description'));
+      $view->addTextContent($description);
+    }
+
+    return $view;
+  }
+
+  private function buildActionListView(FundInitiative $initiative) {
+    $viewer = $this->getRequest()->getUser();
+    $id = $initiative->getID();
+
+    $can_edit = PhabricatorPolicyFilter::hasCapability(
+      $viewer,
+      $initiative,
+      PhabricatorPolicyCapability::CAN_EDIT);
+
+    $view = id(new PhabricatorActionListView())
+      ->setUser($viewer)
+      ->setObject($initiative);
+
+    $view->addAction(
+      id(new PhabricatorActionView())
+        ->setName(pht('Edit Initiative'))
+        ->setIcon('fa-pencil')
+        ->setDisabled(!$can_edit)
+        ->setWorkflow(!$can_edit)
+        ->setHref($this->getApplicationURI("/edit/{$id}/")));
+
+    if ($initiative->isClosed()) {
+      $close_name = pht('Reopen Initiative');
+      $close_icon = 'fa-check';
+    } else {
+      $close_name = pht('Close Initiative');
+      $close_icon = 'fa-times';
+    }
+
+    $view->addAction(
+      id(new PhabricatorActionView())
+        ->setName($close_name)
+        ->setIcon($close_icon)
+        ->setDisabled(!$can_edit)
+        ->setWorkflow(true)
+        ->setHref($this->getApplicationURI("/close/{$id}/")));
+
+    return $view;
+  }
+
+}
diff --git a/src/applications/fund/editor/FundBackingEditor.php b/src/applications/fund/editor/FundBackingEditor.php
new file mode 100644
index 0000000000..bd34e0a8d5
--- /dev/null
+++ b/src/applications/fund/editor/FundBackingEditor.php
@@ -0,0 +1,13 @@
+<?php
+
+final class FundBackingEditor
+  extends PhabricatorApplicationTransactionEditor {
+
+  public function getEditorApplicationClass() {
+    return 'PhabricatorFundApplication';
+  }
+
+  public function getEditorObjectsDescription() {
+    return pht('Fund Backing');
+  }
+}
diff --git a/src/applications/fund/editor/FundInitiativeEditor.php b/src/applications/fund/editor/FundInitiativeEditor.php
new file mode 100644
index 0000000000..eea77f3095
--- /dev/null
+++ b/src/applications/fund/editor/FundInitiativeEditor.php
@@ -0,0 +1,123 @@
+<?php
+
+final class FundInitiativeEditor
+  extends PhabricatorApplicationTransactionEditor {
+
+  public function getEditorApplicationClass() {
+    return 'PhabricatorFundApplication';
+  }
+
+  public function getEditorObjectsDescription() {
+    return pht('Fund Initiatives');
+  }
+
+  public function getTransactionTypes() {
+    $types = parent::getTransactionTypes();
+
+    $types[] = FundInitiativeTransaction::TYPE_NAME;
+    $types[] = FundInitiativeTransaction::TYPE_DESCRIPTION;
+    $types[] = FundInitiativeTransaction::TYPE_STATUS;
+    $types[] = PhabricatorTransactions::TYPE_VIEW_POLICY;
+    $types[] = PhabricatorTransactions::TYPE_EDIT_POLICY;
+
+    return $types;
+  }
+
+  protected function getCustomTransactionOldValue(
+    PhabricatorLiskDAO $object,
+    PhabricatorApplicationTransaction $xaction) {
+    switch ($xaction->getTransactionType()) {
+      case FundInitiativeTransaction::TYPE_NAME:
+        return $object->getName();
+      case FundInitiativeTransaction::TYPE_DESCRIPTION:
+        return $object->getDescription();
+      case FundInitiativeTransaction::TYPE_STATUS:
+        return $object->getStatus();
+    }
+
+    return parent::getCustomTransactionOldValue($object, $xaction);
+  }
+
+  protected function getCustomTransactionNewValue(
+    PhabricatorLiskDAO $object,
+    PhabricatorApplicationTransaction $xaction) {
+
+    switch ($xaction->getTransactionType()) {
+      case FundInitiativeTransaction::TYPE_NAME:
+      case FundInitiativeTransaction::TYPE_DESCRIPTION:
+      case FundInitiativeTransaction::TYPE_STATUS:
+        return $xaction->getNewValue();
+    }
+
+    return parent::getCustomTransactionNewValue($object, $xaction);
+  }
+
+  protected function applyCustomInternalTransaction(
+    PhabricatorLiskDAO $object,
+    PhabricatorApplicationTransaction $xaction) {
+
+    switch ($xaction->getTransactionType()) {
+      case FundInitiativeTransaction::TYPE_NAME:
+        $object->setName($xaction->getNewValue());
+        return;
+      case FundInitiativeTransaction::TYPE_DESCRIPTION:
+        $object->setDescription($xaction->getNewValue());
+        return;
+      case FundInitiativeTransaction::TYPE_STATUS:
+        $object->setStatus($xaction->getNewValue());
+        return;
+      case PhabricatorTransactions::TYPE_SUBSCRIBERS:
+      case PhabricatorTransactions::TYPE_EDGE:
+        return;
+    }
+
+    return parent::applyCustomInternalTransaction($object, $xaction);
+  }
+
+  protected function applyCustomExternalTransaction(
+    PhabricatorLiskDAO $object,
+    PhabricatorApplicationTransaction $xaction) {
+
+    switch ($xaction->getTransactionType()) {
+      case FundInitiativeTransaction::TYPE_NAME:
+      case FundInitiativeTransaction::TYPE_DESCRIPTION:
+      case FundInitiativeTransaction::TYPE_STATUS:
+      case PhabricatorTransactions::TYPE_SUBSCRIBERS:
+      case PhabricatorTransactions::TYPE_EDGE:
+        return;
+    }
+
+    return parent::applyCustomExternalTransaction($object, $xaction);
+  }
+
+  protected function validateTransaction(
+    PhabricatorLiskDAO $object,
+    $type,
+    array $xactions) {
+
+    $errors = parent::validateTransaction($object, $type, $xactions);
+
+    switch ($type) {
+      case FundInitiativeTransaction::TYPE_NAME:
+        $missing = $this->validateIsEmptyTextField(
+          $object->getName(),
+          $xactions);
+
+        if ($missing) {
+          $error = new PhabricatorApplicationTransactionValidationError(
+            $type,
+            pht('Required'),
+            pht('Initiative name is required.'),
+            nonempty(last($xactions), null));
+
+          $error->setIsMissingFieldError(true);
+          $errors[] = $error;
+        }
+        break;
+    }
+
+    return $errors;
+  }
+
+
+}
diff --git a/src/applications/fund/phid/FundBackingPHIDType.php b/src/applications/fund/phid/FundBackingPHIDType.php
new file mode 100644
index 0000000000..7bd91fe71a
--- /dev/null
+++ b/src/applications/fund/phid/FundBackingPHIDType.php
@@ -0,0 +1,41 @@
+<?php
+
+final class FundBackingPHIDType extends PhabricatorPHIDType {
+
+  const TYPECONST = 'FBAK';
+
+  public function getTypeName() {
+    return pht('Variable');
+  }
+
+  public function newObject() {
+    return new FundInitiative();
+  }
+
+  protected function buildQueryForObjects(
+    PhabricatorObjectQuery $query,
+    array $phids) {
+
+    return id(new FundInitiativeQuery())
+      ->withPHIDs($phids);
+  }
+
+  public function loadHandles(
+    PhabricatorHandleQuery $query,
+    array $handles,
+    array $objects) {
+
+    foreach ($handles as $phid => $handle) {
+      $initiative = $objects[$phid];
+
+      $id = $initiative->getID();
+      $monogram = $initiative->getMonogram();
+      $name = $initiative->getName();
+
+      $handle->setName($name);
+      $handle->setFullName("{$monogram} {$name}");
+      $handle->setURI("/fund/view/{$id}/");
+    }
+  }
+
+}
diff --git a/src/applications/fund/phid/FundInitiativePHIDType.php b/src/applications/fund/phid/FundInitiativePHIDType.php
new file mode 100644
index 0000000000..b0e384c063
--- /dev/null
+++ b/src/applications/fund/phid/FundInitiativePHIDType.php
@@ -0,0 +1,74 @@
+<?php
+
+final class FundInitiativePHIDType extends PhabricatorPHIDType {
+
+  const TYPECONST = 'FITV';
+
+  public function getTypeName() {
+    return pht('Initiative');
+  }
+
+  public function newObject() {
+    return new FundInitiative();
+  }
+
+  protected function buildQueryForObjects(
+    PhabricatorObjectQuery $query,
+    array $phids) {
+
+    return id(new FundInitiativeQuery())
+      ->withPHIDs($phids);
+  }
+
+  public function loadHandles(
+    PhabricatorHandleQuery $query,
+    array $handles,
+    array $objects) {
+
+    foreach ($handles as $phid => $handle) {
+      $initiative = $objects[$phid];
+
+      $id = $initiative->getID();
+      $monogram = $initiative->getMonogram();
+      $name = $initiative->getName();
+
+      if ($initiative->isClosed()) {
+        $handle->setStatus(PhabricatorObjectHandleStatus::STATUS_CLOSED);
+      }
+
+      $handle->setName($name);
+      $handle->setFullName("{$monogram} {$name}");
+      $handle->setURI("/I{$id}");
+    }
+  }
+
+  public function canLoadNamedObject($name) {
+    return preg_match('/^I\d*[1-9]\d*$/i', $name);
+  }
+
+  public function loadNamedObjects(
+    PhabricatorObjectQuery $query,
+    array $names) {
+
+    $id_map = array();
+    foreach ($names as $name) {
+      $id = (int)substr($name, 1);
+      $id_map[$id][] = $name;
+    }
+
+    $objects = id(new FundInitiativeQuery())
+      ->setViewer($query->getViewer())
+      ->withIDs(array_keys($id_map))
+      ->execute();
+
+    $results = array();
+    foreach ($objects as $id => $object) {
+      foreach (idx($id_map, $id, array()) as $name) {
+        $results[$name] = $object;
+      }
+    }
+
+    return $results;
+  }
+
+}
diff --git a/src/applications/fund/query/FundBackingQuery.php b/src/applications/fund/query/FundBackingQuery.php
new file mode 100644
index 0000000000..68aa999e24
--- /dev/null
+++ b/src/applications/fund/query/FundBackingQuery.php
@@ -0,0 +1,60 @@
+<?php
+
+final class FundBackingQuery
+  extends PhabricatorCursorPagedPolicyAwareQuery {
+
+  private $ids;
+  private $phids;
+
+  public function withIDs(array $ids) {
+    $this->ids = $ids;
+    return $this;
+  }
+
+  public function withPHIDs(array $phids) {
+    $this->phids = $phids;
+    return $this;
+  }
+
+  protected function loadPage() {
+    $table = new FundBacking();
+    $conn_r = $table->establishConnection('r');
+
+    $rows = queryfx_all(
+      $conn_r,
+      'SELECT * FROM %T %Q %Q %Q',
+      $table->getTableName(),
+      $this->buildWhereClause($conn_r),
+      $this->buildOrderClause($conn_r),
+      $this->buildLimitClause($conn_r));
+
+    return $table->loadAllFromArray($rows);
+  }
+
+  private function buildWhereClause(AphrontDatabaseConnection $conn_r) {
+    $where = array();
+
+    $where[] = $this->buildPagingClause($conn_r);
+
+    if ($this->ids !== null) {
+      $where[] = qsprintf(
+        $conn_r,
+        'id IN (%Ld)',
+        $this->ids);
+    }
+
+    if ($this->phids !== null) {
+      $where[] = qsprintf(
+        $conn_r,
+        'phid IN (%Ls)',
+        $this->phids);
+    }
+
+    return $this->formatWhereClause($where);
+  }
+
+  public function getQueryApplicationClass() {
+    return 'PhabricatorFundApplication';
+  }
+
+}
diff --git a/src/applications/fund/query/FundBackingTransactionQuery.php b/src/applications/fund/query/FundBackingTransactionQuery.php
new file mode 100644
index 0000000000..34ad3ea647
--- /dev/null
+++ b/src/applications/fund/query/FundBackingTransactionQuery.php
@@ -0,0 +1,10 @@
+<?php
+
+final class FundBackingTransactionQuery
+  extends PhabricatorApplicationTransactionQuery {
+
+  public function getTemplateApplicationTransaction() {
+    return new FundBackingTransaction();
+  }
+
+}
diff --git a/src/applications/fund/query/FundInitiativeQuery.php b/src/applications/fund/query/FundInitiativeQuery.php
new file mode 100644
index 0000000000..8fd910c046
--- /dev/null
+++ b/src/applications/fund/query/FundInitiativeQuery.php
@@ -0,0 +1,116 @@
+<?php
+
+final class FundInitiativeQuery
+  extends PhabricatorCursorPagedPolicyAwareQuery {
+
+  private $ids;
+  private $phids;
+  private $ownerPHIDs;
+  private $statuses;
+
+  private $needProjectPHIDs;
+
+  public function withIDs(array $ids) {
+    $this->ids = $ids;
+    return $this;
+  }
+
+  public function withPHIDs(array $phids) {
+    $this->phids = $phids;
+    return $this;
+  }
+
+  public function withOwnerPHIDs(array $phids) {
+    $this->ownerPHIDs = $phids;
+    return $this;
+  }
+
+  public function withStatuses(array $statuses) {
+    $this->statuses = $statuses;
+    return $this;
+  }
+
+  public function needProjectPHIDs($need) {
+    $this->needProjectPHIDs = $need;
+    return $this;
+  }
+
+  protected function loadPage() {
+    $table = new FundInitiative();
+    $conn_r = $table->establishConnection('r');
+
+    $rows = queryfx_all(
+      $conn_r,
+      'SELECT * FROM %T %Q %Q %Q',
+      $table->getTableName(),
+      $this->buildWhereClause($conn_r),
+      $this->buildOrderClause($conn_r),
+      $this->buildLimitClause($conn_r));
+
+    return $table->loadAllFromArray($rows);
+  }
+
+  protected function didFilterPage(array $initiatives) {
+
+    if ($this->needProjectPHIDs) {
+      $edge_query = id(new PhabricatorEdgeQuery())
+        ->withSourcePHIDs(mpull($initiatives, 'getPHID'))
+        ->withEdgeTypes(
+          array(
+            PhabricatorProjectObjectHasProjectEdgeType::EDGECONST,
+          ));
+      $edge_query->execute();
+
+      foreach ($initiatives as $initiative) {
+        $phids = $edge_query->getDestinationPHIDs(
+          array(
+            $initiative->getPHID(),
+          ));
+        $initiative->attachProjectPHIDs($phids);
+      }
+    }
+
+    return $initiatives;
+  }
+
+  private function buildWhereClause(AphrontDatabaseConnection $conn_r) {
+    $where = array();
+
+    $where[] = $this->buildPagingClause($conn_r);
+
+    if ($this->ids !== null) {
+      $where[] = qsprintf(
+        $conn_r,
+        'id IN (%Ld)',
+        $this->ids);
+    }
+
+    if ($this->phids !== null) {
+      $where[] = qsprintf(
+        $conn_r,
+        'phid IN (%Ls)',
+        $this->phids);
+    }
+
+    if ($this->ownerPHIDs !== null) {
+      $where[] = qsprintf(
+        $conn_r,
+        'ownerPHID IN (%Ls)',
+        $this->ownerPHIDs);
+    }
+
+    if ($this->statuses !== null) {
+      $where[] = qsprintf(
+        $conn_r,
+        'status IN (%Ls)',
+        $this->statuses);
+    }
+
+    return $this->formatWhereClause($where);
+  }
+
+  public function getQueryApplicationClass() {
+    return 'PhabricatorFundApplication';
+  }
+
+}
diff --git a/src/applications/fund/query/FundInitiativeSearchEngine.php b/src/applications/fund/query/FundInitiativeSearchEngine.php
new file mode 100644
index 0000000000..17e5f585f8
--- /dev/null
+++ b/src/applications/fund/query/FundInitiativeSearchEngine.php
@@ -0,0 +1,180 @@
+<?php
+
+final class FundInitiativeSearchEngine
+  extends PhabricatorApplicationSearchEngine {
+
+  public function getResultTypeDescription() {
+    return pht('Fund Initiatives');
+  }
+
+  public function getApplicationClassName() {
+    return 'PhabricatorFundApplication';
+  }
+
+  public function buildSavedQueryFromRequest(AphrontRequest $request) {
+    $saved = new PhabricatorSavedQuery();
+
+    $saved->setParameter(
+      'ownerPHIDs',
+      $this->readUsersFromRequest($request, 'owners'));
+
+    $saved->setParameter(
+      'statuses',
+      $this->readListFromRequest($request, 'statuses'));
+
+    return $saved;
+  }
+
+  public function buildQueryFromSavedQuery(PhabricatorSavedQuery $saved) {
+    $query = id(new FundInitiativeQuery())
+      ->needProjectPHIDs(true);
+
+    $owner_phids = $saved->getParameter('ownerPHIDs');
+    if ($owner_phids) {
+      $query->withOwnerPHIDs($owner_phids);
+    }
+
+    $statuses = $saved->getParameter('statuses');
+    if ($statuses) {
+      $query->withStatuses($statuses);
+    }
+
+    return $query;
+  }
+
+  public function buildSearchForm(
+    AphrontFormView $form,
+    PhabricatorSavedQuery $saved) {
+
+    $statuses = $saved->getParameter('statuses', array());
+    $statuses = array_fuse($statuses);
+
+    $owner_phids = $saved->getParameter('ownerPHIDs', array());
+
+    $all_phids = array_mergev(
+      array(
+        $owner_phids,
+      ));
+
+    $handles = id(new PhabricatorHandleQuery())
+      ->setViewer($this->requireViewer())
+      ->withPHIDs($all_phids)
+      ->execute();
+
+    $status_map = FundInitiative::getStatusNameMap();
+    $status_control = id(new AphrontFormCheckboxControl())
+      ->setLabel(pht('Statuses'));
+    foreach ($status_map as $status => $name) {
+      $status_control->addCheckbox(
+        'statuses[]',
+        $status,
+        $name,
+        isset($statuses[$status]));
+    }
+
+    $form
+      ->appendChild(
+        id(new AphrontFormTokenizerControl())
+          ->setLabel(pht('Owners'))
+          ->setName('owners')
+          ->setDatasource(new PhabricatorPeopleDatasource())
+          ->setValue(array_select_keys($handles, $owner_phids)))
+      ->appendChild($status_control);
+  }
+
+  protected function getURI($path) {
+    return '/fund/'.$path;
+  }
+
+  public function getBuiltinQueryNames() {
+    $names = array();
+
+    $names['open'] = pht('Open Initiatives');
+    if ($this->requireViewer()->isLoggedIn()) {
+      $names['owned'] = pht('Owned Initiatives');
+    }
+    $names['all'] = pht('All Initiatives');
+
+    return $names;
+  }
+
+  public function buildSavedQueryFromBuiltin($query_key) {
+    $query = $this->newSavedQuery();
+    $query->setQueryKey($query_key);
+
+    switch ($query_key) {
+      case 'all':
+        return $query;
+      case 'owned':
+        return $query->setParameter(
+          'ownerPHIDs',
+          array(
+            $this->requireViewer()->getPHID(),
+          ));
+      case 'open':
+        return $query->setParameter(
+          'statuses',
+          array(
+            FundInitiative::STATUS_OPEN,
+          ));
+    }
+
+    return parent::buildSavedQueryFromBuiltin($query_key);
+  }
+
+  protected function getRequiredHandlePHIDsForResultList(
+    array $initiatives,
+    PhabricatorSavedQuery $query) {
+
+    $phids = array();
+    foreach ($initiatives as $initiative) {
+      $phids[] = $initiative->getOwnerPHID();
+      foreach ($initiative->getProjectPHIDs() as $project_phid) {
+        $phids[] = $project_phid;
+      }
+    }
+
+    return $phids;
+  }
+
+  protected function renderResultList(
+    array $initiatives,
+    PhabricatorSavedQuery $query,
+    array $handles) {
+    assert_instances_of($initiatives, 'FundInitiative');
+
+    $viewer = $this->requireViewer();
+
+    $list = id(new PHUIObjectItemListView());
+    foreach ($initiatives as $initiative) {
+      $owner_handle = $handles[$initiative->getOwnerPHID()];
+
+      $item = id(new PHUIObjectItemView())
+        ->setObjectName($initiative->getMonogram())
+        ->setHeader($initiative->getName())
+        ->setHref('/'.$initiative->getMonogram())
+        ->addByline(pht('Owner: %s', $owner_handle->renderLink()));
+
+      if ($initiative->isClosed()) {
+        $item->setDisabled(true);
+      }
+
+      $project_handles = array_select_keys(
+        $handles,
+        $initiative->getProjectPHIDs());
+      if ($project_handles) {
+        $item->addAttribute(
+          id(new PHUIHandleTagListView())
+            ->setLimit(4)
+            ->setSlim(true)
+            ->setHandles($project_handles));
+      }
+
+      $list->addItem($item);
+    }
+
+
+    return $list;
+  }
+
+}
diff --git a/src/applications/fund/query/FundInitiativeTransactionQuery.php b/src/applications/fund/query/FundInitiativeTransactionQuery.php
new file mode 100644
index 0000000000..3c178ec645
--- /dev/null
+++ b/src/applications/fund/query/FundInitiativeTransactionQuery.php
@@ -0,0 +1,10 @@
+<?php
+
+final class FundInitiativeTransactionQuery
+  extends PhabricatorApplicationTransactionQuery {
+
+  public function getTemplateApplicationTransaction() {
+    return new FundInitiativeTransaction();
+  }
+
+}
diff --git a/src/applications/fund/remarkup/FundInitiativeRemarkupRule.php b/src/applications/fund/remarkup/FundInitiativeRemarkupRule.php
new file mode 100644
index 0000000000..f14ef4e4aa
--- /dev/null
+++ b/src/applications/fund/remarkup/FundInitiativeRemarkupRule.php
@@ -0,0 +1,18 @@
+<?php
+
+final class FundInitiativeRemarkupRule extends PhabricatorObjectRemarkupRule {
+
+  protected function getObjectNamePrefix() {
+    return 'I';
+  }
+
+  protected function loadObjects(array $ids) {
+    $viewer = $this->getEngine()->getConfig('viewer');
+
+    return id(new FundInitiativeQuery())
+      ->setViewer($viewer)
+      ->withIDs($ids)
+      ->execute();
+  }
+
+}
diff --git a/src/applications/fund/storage/FundBacking.php b/src/applications/fund/storage/FundBacking.php
new file mode 100644
index 0000000000..31104bf2ed
--- /dev/null
+++ b/src/applications/fund/storage/FundBacking.php
@@ -0,0 +1,85 @@
+<?php
+
+final class FundBacking extends FundDAO
+  implements
+    PhabricatorPolicyInterface,
+    PhabricatorApplicationTransactionInterface {
+
+  protected $initiativePHID;
+  protected $backerPHID;
+  protected $purchasePHID;
+  protected $amountInCents;
+  protected $status;
+  protected $properties = array();
+
+  private $initiative = self::ATTACHABLE;
+
+  public function getConfiguration() {
+    return array(
+      self::CONFIG_AUX_PHID => true,
+    ) + parent::getConfiguration();
+  }
+
+  public function generatePHID() {
+    return PhabricatorPHID::generateNewPHID(FundBackingPHIDType::TYPECONST);
+  }
+
+  public function getProperty($key, $default = null) {
+    return idx($this->properties, $key, $default);
+  }
+
+  public function setProperty($key, $value) {
+    $this->properties[$key] = $value;
+    return $this;
+  }
+
+
+/* -(  PhabricatorPolicyInterface  )----------------------------------------- */
+
+
+  public function getCapabilities() {
+    return array(
+      PhabricatorPolicyCapability::CAN_VIEW,
+    );
+  }
+
+  public function getPolicy($capability) {
+    switch ($capability) {
+      case PhabricatorPolicyCapability::CAN_VIEW:
+        // If we have the initiative, use the initiative's policy.
+        // Otherwise, return NOONE. This allows the backer to continue seeing
+        // a backing even if they're no longer allowed to see the initiative.
+
+        $initiative = $this->getInitiative();
+        if ($initiative) {
+          return $initiative->getPolicy($capability);
+        }
+        return PhabricatorPolicies::POLICY_NOONE;
+    }
+  }
+
+  public function hasAutomaticCapability($capability, PhabricatorUser $viewer) {
+    return ($viewer->getPHID() == $this->getBackerPHID());
+  }
+
+  public function describeAutomaticCapability($capability) {
+    return pht('A backer can always see what they have backed.');
+  }
+
+
+/* -(  PhabricatorApplicationTransactionInterface  )------------------------- */
+
+
+  public function getApplicationTransactionEditor() {
+    return new FundBackingEditor();
+  }
+
+  public function getApplicationTransactionObject() {
+    return $this;
+  }
+
+  public function getApplicationTransactionTemplate() {
+    return new FundBackingTransaction();
+  }
+
+}
diff --git a/src/applications/fund/storage/FundBackingTransaction.php b/src/applications/fund/storage/FundBackingTransaction.php
new file mode 100644
index 0000000000..79fd55f0bd
--- /dev/null
+++ b/src/applications/fund/storage/FundBackingTransaction.php
@@ -0,0 +1,18 @@
+<?php
+
+final class FundBackingTransaction
+  extends PhabricatorApplicationTransaction {
+
+  public function getApplicationName() {
+    return 'fund';
+  }
+
+  public function getApplicationTransactionType() {
+    return FundBackingPHIDType::TYPECONST;
+  }
+
+  public function getApplicationTransactionCommentObject() {
+    return null;
+  }
+
+}
diff --git a/src/applications/fund/storage/FundDAO.php b/src/applications/fund/storage/FundDAO.php
new file mode 100644
index 0000000000..921b5939e8
--- /dev/null
+++ b/src/applications/fund/storage/FundDAO.php
@@ -0,0 +1,9 @@
+<?php
+
+abstract class FundDAO extends PhabricatorLiskDAO {
+
+  public function getApplicationName() {
+    return 'fund';
+  }
+
+}
diff --git a/src/applications/fund/storage/FundInitiative.php b/src/applications/fund/storage/FundInitiative.php
new file mode 100644
index 0000000000..680f3dbbdb
--- /dev/null
+++ b/src/applications/fund/storage/FundInitiative.php
@@ -0,0 +1,157 @@
+<?php
+
+final class FundInitiative extends FundDAO
+  implements
+    PhabricatorPolicyInterface,
+    PhabricatorProjectInterface,
+    PhabricatorApplicationTransactionInterface,
+    PhabricatorSubscribableInterface,
+    PhabricatorMentionableInterface,
+    PhabricatorFlaggableInterface,
+    PhabricatorTokenReceiverInterface,
+    PhabricatorDestructibleInterface {
+
+  protected $name;
+  protected $ownerPHID;
+  protected $description;
+  protected $viewPolicy;
+  protected $editPolicy;
+  protected $status;
+
+  private $projectPHIDs = self::ATTACHABLE;
+
+  const STATUS_OPEN = 'open';
+  const STATUS_CLOSED = 'closed';
+
+  public static function getStatusNameMap() {
+    return array(
+      self::STATUS_OPEN => pht('Open'),
+      self::STATUS_CLOSED => pht('Closed'),
+    );
+  }
+
+  public static function initializeNewInitiative(PhabricatorUser $actor) {
+    $app = id(new PhabricatorApplicationQuery())
+      ->setViewer($actor)
+      ->withClasses(array('PhabricatorFundApplication'))
+      ->executeOne();
+
+    $view_policy = $app->getPolicy(FundDefaultViewCapability::CAPABILITY);
+
+    return id(new FundInitiative())
+      ->setOwnerPHID($actor->getPHID())
+      ->setViewPolicy($view_policy)
+      ->setEditPolicy($actor->getPHID())
+      ->setStatus(self::STATUS_OPEN);
+  }
+
+  public function getConfiguration() {
+    return array(
+      self::CONFIG_AUX_PHID => true,
+    ) + parent::getConfiguration();
+  }
+
+  public function generatePHID() {
+    return PhabricatorPHID::generateNewPHID(FundInitiativePHIDType::TYPECONST);
+  }
+
+  public function getMonogram() {
+    return 'I'.$this->getID();
+  }
+
+  public function getProjectPHIDs() {
+    return $this->assertAttached($this->projectPHIDs);
+  }
+
+  public function attachProjectPHIDs(array $phids) {
+    $this->projectPHIDs = $phids;
+    return $this;
+  }
+
+  public function isClosed() {
+    return ($this->getStatus() == self::STATUS_CLOSED);
+  }
+
+
+/* -(  PhabricatorPolicyInterface  )----------------------------------------- */
+
+
+  public function getCapabilities() {
+    return array(
+      PhabricatorPolicyCapability::CAN_VIEW,
+      PhabricatorPolicyCapability::CAN_EDIT,
+    );
+  }
+
+  public function getPolicy($capability) {
+    switch ($capability) {
+      case PhabricatorPolicyCapability::CAN_VIEW:
+        return $this->getViewPolicy();
+      case PhabricatorPolicyCapability::CAN_EDIT:
+        return $this->getEditPolicy();
+    }
+  }
+
+  public function hasAutomaticCapability($capability, PhabricatorUser $viewer) {
+    return false;
+  }
+
+  public function describeAutomaticCapability($capability) {
+    return null;
+  }
+
+
+/* -(  PhabricatorApplicationTransactionInterface  )------------------------- */
+
+
+  public function getApplicationTransactionEditor() {
+    return new FundInitiativeEditor();
+  }
+
+  public function getApplicationTransactionObject() {
+    return $this;
+  }
+
+  public function getApplicationTransactionTemplate() {
+    return new FundInitiativeTransaction();
+  }
+
+
+/* -(  PhabricatorSubscribableInterface  )----------------------------------- */
+
+
+  public function isAutomaticallySubscribed($phid) {
+    return ($phid == $this->getOwnerPHID());
+  }
+
+  public function shouldShowSubscribersProperty() {
+    return true;
+  }
+
+  public function shouldAllowSubscription($phid) {
+    return true;
+  }
+
+
+/* -(  PhabricatorTokenRecevierInterface  )---------------------------------- */
+
+
+  public function getUsersToNotifyOfTokenGiven() {
+    return array(
+      $this->getOwnerPHID(),
+    );
+  }
+
+
+/* -(  PhabricatorDestructibleInterface  )----------------------------------- */
+
+
+  public function destroyObjectPermanently(
+    PhabricatorDestructionEngine $engine) {
+
+    $this->openTransaction();
+      $this->delete();
+    $this->saveTransaction();
+  }
+
+}
diff --git a/src/applications/fund/storage/FundInitiativeTransaction.php b/src/applications/fund/storage/FundInitiativeTransaction.php
new file mode 100644
index 0000000000..fcb75c1fab
--- /dev/null
+++ b/src/applications/fund/storage/FundInitiativeTransaction.php
@@ -0,0 +1,136 @@
+<?php
+
+final class FundInitiativeTransaction
+  extends PhabricatorApplicationTransaction {
+
+  const TYPE_NAME = 'fund:name';
+  const TYPE_DESCRIPTION = 'fund:description';
+  const TYPE_STATUS = 'fund:status';
+
+  public function getApplicationName() {
+    return 'fund';
+  }
+
+  public function getApplicationTransactionType() {
+    return FundInitiativePHIDType::TYPECONST;
+  }
+
+  public function getApplicationTransactionCommentObject() {
+    return null;
+  }
+
+  public function getTitle() {
+    $author_phid = $this->getAuthorPHID();
+    $object_phid = $this->getObjectPHID();
+
+    $old = $this->getOldValue();
+    $new = $this->getNewValue();
+
+    $type = $this->getTransactionType();
+    switch ($type) {
+      case FundInitiativeTransaction::TYPE_NAME:
+        if ($old === null) {
+          return pht(
+            '%s created this initiative.',
+            $this->renderHandleLink($author_phid));
+        } else {
+          return pht(
+            '%s renamed this initiative from "%s" to "%s".',
+            $this->renderHandleLink($author_phid),
+            $old,
+            $new);
+        }
+        break;
+      case FundInitiativeTransaction::TYPE_DESCRIPTION:
+        return pht(
+          '%s edited the description of this initiative.',
+          $this->renderHandleLink($author_phid));
+      case FundInitiativeTransaction::TYPE_STATUS:
+        switch ($new) {
+          case FundInitiative::STATUS_OPEN:
+            return pht(
+              '%s reopened this initiative.',
+              $this->renderHandleLink($author_phid));
+          case FundInitiative::STATUS_CLOSED:
+            return pht(
+              '%s closed this initiative.',
+              $this->renderHandleLink($author_phid));
+        }
+        break;
+    }
+
+    return parent::getTitle();
+  }
+
+  public function getTitleForFeed(PhabricatorFeedStory $story) {
+    $author_phid = $this->getAuthorPHID();
+    $object_phid = $this->getObjectPHID();
+
+    $old = $this->getOldValue();
+    $new = $this->getNewValue();
+
+    $type = $this->getTransactionType();
+    switch ($type) {
+      case FundInitiativeTransaction::TYPE_NAME:
+        if ($old === null) {
+          return pht(
+            '%s created %s.',
+            $this->renderHandleLink($author_phid),
+            $this->renderHandleLink($object_phid));
+
+        } else {
+          return pht(
+            '%s renamed %s.',
+            $this->renderHandleLink($author_phid),
+            $this->renderHandleLink($object_phid));
+        }
+        break;
+      case FundInitiativeTransaction::TYPE_DESCRIPTION:
+        return pht(
+          '%s updated the description for %s.',
+          $this->renderHandleLink($author_phid),
+          $this->renderHandleLink($object_phid));
+      case FundInitiativeTransaction::TYPE_STATUS:
+        switch ($new) {
+          case FundInitiative::STATUS_OPEN:
+            return pht(
+              '%s reopened %s.',
+              $this->renderHandleLink($author_phid),
+              $this->renderHandleLink($object_phid));
+          case FundInitiative::STATUS_CLOSED:
+            return pht(
+              '%s closed %s.',
+              $this->renderHandleLink($author_phid),
+              $this->renderHandleLink($object_phid));
+        }
+        break;
+    }
+
+    return parent::getTitleForFeed($story);
+  }
+
+  public function shouldHide() {
+    $old = $this->getOldValue();
+    switch ($this->getTransactionType()) {
+      case FundInitiativeTransaction::TYPE_DESCRIPTION:
+        return ($old === null);
+    }
+    return parent::shouldHide();
+  }
+
+  public function hasChangeDetails() {
+    switch ($this->getTransactionType()) {
+      case FundInitiativeTransaction::TYPE_DESCRIPTION:
+        return ($this->getOldValue() !== null);
+    }
+
+    return parent::hasChangeDetails();
+  }
+
+  public function renderChangeDetails(PhabricatorUser $viewer) {
+    return $this->renderTextCorpusChangeDetails(
+      $viewer,
+      $this->getOldValue(),
+      $this->getNewValue());
+  }
+}
diff --git a/src/infrastructure/storage/patch/PhabricatorBuiltinPatchList.php b/src/infrastructure/storage/patch/PhabricatorBuiltinPatchList.php
index e05472721d..b36c2d157b 100644
--- a/src/infrastructure/storage/patch/PhabricatorBuiltinPatchList.php
+++ b/src/infrastructure/storage/patch/PhabricatorBuiltinPatchList.php
@@ -119,6 +119,7 @@ final class PhabricatorBuiltinPatchList extends PhabricatorSQLPatchList {
       'db.phragment' => array(),
       'db.dashboard' => array(),
       'db.system' => array(),
+      'db.fund' => array(),
       '0000.legacy.sql' => array(
         'legacy' => 0,
       ),