Re-examine as required: The budget should be reassessed if funding changes occur during the year. In fact! A Duke development officer, including those in the gift planning office, can help you explore opportunities to create an endowment in your lifetime. You can also make an unwanted donation at any time. The most common type of consumable donation to Duke is through the Duke Annual Fund. Donations from the Annual Fund provide critical support – and immediate impact – in every corner of campus. For an in-depth understanding of foundations and related policies and procedures, see the following sections: Quasi-endowment funds are funds that operate like foundations and are generally established by the institution from donor or institutional resources and are held and invested rather than spent. The quasi-foundation must maintain the purpose and intention indicated by the donor or the source of the original funds, and proceeds may only be spent for these purposes. Since quasi-foundations are generally established by the institution rather than by an external source, the principal amount may be spent according to the donor`s specifications, unless the quasi-fund has been established as a permanent complement. The transfer of journals under $2,500 to or from this fund may take place if the restrictions on the source fund allow it. The fund receiving the funds may not restrict the pooling of revenues. For example, if the transferred income is limited to supporting faculty research, the proceeds cannot be transferred to a fund that covers both faculty and student research. The money set aside for research by students should be separated from the limited research money of the faculty. c.

Chart of Accounts Stanford`s accounting system uses an alphanumeric code or chart of accounts. The fund number, also known as the allocation number, is included in the chart of accounts. The university`s accounting also captures the attributes assigned to each fund, further defining the purpose and constraints of the fund. A detailed explanation of its structure can be found in Stanford`s Gateway to Financial Activities. Sometimes, major provincial or federal finance departments or agencies require that certain funds that are earmarked for special purposes be invested with accumulated capital gains until they are spent. In these cases, the university will retain these funds as “designated funds”. The investment of such funds must be consistent with the portfolio of consumer funds provided for in this directive, unless otherwise specified by a ministry or authority. Investment conditions are adjusted to the expected cash flows of the designated fund. The funds provided to the university by the federal and provincial governments for major capital purposes are important examples of this type of investment. For more information on specially managed funds, please contact the endowment fund at Endowment.fund.staff@umich.edu or 734-763-4163. Consumables are donations, grants or contracts that can be used directly to fund a specific or general activity.

Donations that are not immediately required for disbursements can be invested quarterly to earn interest by “committing” these funds to EFIPs. Grants and contracts cannot be invested in EFIPs, as expenditure budgets are determined by sponsors before funds are actually received. (2) Donor-advised funds: Stanford has donor-advised funds. For more information about the amount and type of donations required to set up a donor-advised fund at Stanford and the amount of the fund that must ultimately be set aside to use the university, visit the Development Office website. In cases where a donor-advised fund is subsequently used, in whole or in part, to establish or supplement an endowment fund, it will not be counted as part of the foundation until the funds are expressly transferred to the endowment fund for use in accordance with the terms of the donor`s request. Endowment funds are established through monetary donations, securities and property from individuals, corporations and foundations, as well as grants from government foundations. Each foundation is assigned a separate account to ensure that it retains its uniqueness for the purposes of commitments, history, ongoing management and financial information. The capital of the foundation is held and invested on a permanent basis, and investment income, an important ongoing and reliable source of income, can be spent for its intended purpose. Authorized employees of the head office usually make money transfers.