Indiana University FoundationPolicies & Procedures

Sheila Decker, Executive Director, Administration

CATS Meeting

September 22, 2004

Administration

Account Administration ServicesAccount MaintenanceGift Agreements

Gift AdministrationDepositsRecording & receipting of charitable gifts

Accounts PayableDisbursementsTransfers between Foundation accounts

IU vs. IUF Policies

Correlation between IU and IUF policies

Why is it important to consider both?

Understanding IUF accounts

EXPENDABLE vs.

ENDOWMENT

Understanding IUF accounts

EXPENDABLEthe donor has indicated that both their gift and any associated investment earnings received may be used to support the purposes of the gift.

ENDOWMENTLasting gift to the University by donor

Only earnings can be spent

Only donor can restrict funds into perpetuity

How can funds be used?

Must adhere to donor intent

Refer to Gift Agreement

Understanding IUF accounts

Gift AgreementWhat is it?A legal document outlining how the gift will be used, responsibilities of the Foundation and school or department, as well as, a means to provide for alternate use of funds if needed.

Understanding IUF accounts

Account Manager & SupervisorResponsibilities:

Oversee account activityReview monthly account statements

Authorize transactionsDisbursementsDepositsTransfers

Ensure compliance with donor intent

Supervisory Role

Check requests require 2 signatures (the manager and supervisor)

Attach original invoices or receiptsSpecify business purpose of event/expenseProvide scholarship recipient information

Disbursements

Donor Intent

Fund Types (expendable vs. endowment)32 & 38 expendable, 37 endowment

Flexibility of Gift Agreement Language

Compliance Issues

Signature Cards-Alternate Signers

TOP 10 LIST

Web Access to Information

Other Income Deposits

Lockbox

Dormant Accounts

Donor Endowment Statements

TOP 10 LIST

QUESTIONS?

Notes:

Account Services 5-6336 (Melinda & Cheryl)****

Visit the Extranet at iufbusiness.iu.edu