East Carolina University
Foundation Accounting
FINANCIAL SERVICES WORKSHOP
Stewardship Policy

Donor obligation

Board approved

Provides guidelines
Documentation

Business purpose of
expenditure

Itemized list of expenses

Invoices must be original

Does it follow the IRS
guidelines?
Approval
Process
Do you have funds?
 Business purpose
 Fund purpose



Approval

Proxy

Fund manager

Fund manager
supervisor
Employee
reimbursements or
direct benefits?
Foundation Expenditures

Travel

Awards to Employees

Entertainment


Business Meals
Gifts to Non-University
Personnel

Event Expenses

Retirement Awards/Gifts

Relocation Expenses

Tips

Flowers
Prohibited Expenses






Personal benefit: ex. Brief
cases
Purchase or rental of
clothing (excluding
performance costumes
Fines
Parking permits for
University employees
Contributions
Birthday parties or going
away parties



Gifts represented as being
from an individual
Lavish expenditures
Political contributions
Foundation Funds on ProCard

Follow all ProCard policies

Provide same documentation
as you would for any other
normal invoice


Do you have funds?

Business purpose

Fund purpose

Approval
Upload support into Works
system

If file is too large, scan and send to
Foundation contact
Scholarships / AcademicWorks

Annual contribution deadline 12/31

When can I expect fund balances?

What should we consider when deciding how much to spend?

AcademicWorks
Fundraising/Events
Fundraising/Event Challenges

Cash management

Credit card data

Solicitation

Contribution or not?

Sales Tax

Sponsorship or advertising UBIT

Raffles

What fund to use?

Logistics & time

Compliance Issues
Fundraising/Event Solutions

Contact your MGO

Check with us before you get started

Activity codes

Don’t collect cash/checks if possible & don’t write down
CC data

Check out a credit card machine – Robin Mayo

U-stores – Robin Mayo
Other Foundation
Considerations

Payroll on foundation funds

EPAFs

Fund types, minimums, and uses

First letter indicates the foundation (E = ECU Foundation M = M&HSF)

Second letter indicates fund type

A – Spendable Annually Funded
C – Endowment Corpus Nonspendable

T – Spendable temporarily restricted
R – Endowment Earnings Nonspendable

E – Endowment Expendable
Example Fund number
ME7680 = ECU M&HS Foundation endowment expendable fund (will have a corresponding C&R)
EA5620 = ECU Foundation annually funded (typically scholarship funds)

Setting up a new fund
Do not use
Self Service
Banner for
Foundation
Funds.
INB Screens Using Foundation Funds
Fund Balance - FGITBSR
Fund balance
Transaction Summary - FGIBDST
YTD Activity
Transaction Detail - FGITRND
Transaction Detail - FGITRND
Extract Data With No Key to
Excel
Excel Worksheet
Fund Balance - FGITBSR
Fund
Balance
Expenses
Revenue
Fund balance