USE OF SURPLUS FUNDS
Original Query from Al Hall, The Older Adult Learning Center, East Stroudsburg University
in PA
What are the creative ways your organization has used to spend surplus funds?
From Teresa S. Price, McCALL, Montreat College Center for Adult Lifelong Learning, NC
The McCALL Executive Board reviews their income and expenses at the end of the fiscal
year. They determine and vote for a specific amount of money to be awarded to the
McCALL Scholarship fund at Montreat College. This is a yearly work scholarship and the
student is assigned work with the McCALL liaison. If the student does not complete
designated hours, the student will only receive actual money earned for that scholarship.
Any other money left in the McCALL budget is a set amount to prepare for expenses for the
next fiscal year.
From Joan Gamble, Elder College, Terra Community College, Fremont, OH
Starting a Foundation would be a good use of Surplus funds
From Keith Gammon, Lagniappe Studies Unlimited, Louisiana State University, Baton
Rouge
We at Lagniappe Studies Unlimited have used our surplus funds to purchase more
equipment (projectors, DVD players, etc.) and are looking for ways to upgrade our class
presentations using these funds to purchase appropriate equipment. We have also reduced
our membership fee.
From Stan Marshall, Jr., Penobscot Valley Senior College, ME
We are only in our third semester at Penobscot Valley Senior College in Maine, so have not
yet dealt with the "problem" of having surplus funds. We badly need support staff help to
keep our programs functioning and to provide continuity as time passes. My expectation is
that our surplus will be used first to provide financial stability and then define some staff
responsibilities requiring minimal supervision which we can "outsource."
From Joe Denhart, ENCORE, Glendale Community College, CA
ENCORE has a small budget $3,000.-$4,000. per year. Since we pay no rent, we try to give
something back to the college in appreciation. Scholarships, gift to our Foundation, or some
other worthy cause. This has worked well for us.
From Dee Miller, Senior College, Bridgeton, ME
Here in Bridgton, Maine we don't have surplus funds. We do use funds from our account to
host a "thank you" luncheon for faculty and support people. We also use funds to give a
"gift" to the school where we meet (rent-free) and to the administrator of the building,
From Jean Haynes, Academy for Lifelong Learning, USC Aiken, SC
Purchasing equipment and contributing to an endowment fund each year at the University
of South Carolina Aiken.
From Linda Bailey, Veritas Society, Bellarmine University, KY
The Veritas Society Board of Directors recently voted to donate $20,000 to Bellarmine
University to renovate an old science lab into a "super dooper" large classroom. Our Society
will have first "dibs" on using this room in the afternoons. Hopefully, the renovation will
also include room for a "gathering" space for Society members.
From Nancy Leich, Seminole Adult Learning Institute, Sanford, FL
As yet, we haven't had surplus funds. However, in the event we had extra money, we would
definitely present musicals and plays to our seniors. They truly appreciate this. Also, Florida
has become a new home for many people. We would plan daylong road trips to familiarize
residents with the history, and opportunities available to them - lunch would be included:-)
From Norman Smith, ASPEC, Eckerd College, FL
Sorry, our ASPEC group is designed to "Break Even" with income and expenses each year,
and therefore we have no surplus funds. We receive no funding from the College, and
therefore, if any account has funds left at the end of the year it just carries over.
From Teresa Durham, ILR, Kellogg Community College, MI
Wow! We could only hope to have a surplus this year. If we do have a surplus, our ILR
group has set up a scholarship account within the college's foundation.
From Ruth Wilke, Institute for Continued Learning, University of California, San Diego
The Institute for Continued Learning at UCSD had a carry-forward of an additional $8,000
from the 2002-2003 academic year. We reduced our annual membership fee from $210 per
year to $200 to make our fee more affordable.
From Michael Markowitz, IRP, New School, NY
We raise funds annually for special initiatives (about $30,000 a year) and for an endowment
to fund scholarships and subsidies texts (now at $150,000). Special initiatives have included
sponsoring a series of 8 lectures for our 40th Anniversary, gifts to the New School
scholarship program, giving travel grants to graduate students to enable them to accepts
internships in Africa and Latin America, sending our own students to conferences, hosting
meetings and conferences, sponsoring awards to area programs serving seniors, sponsoring
a twice a years volunteering events that draws almost 500 people to each event, paying for
two students memberships in the local Inter-Agency Federation of Senior Services and
Programs, developing training programs for coordinators using outside consults with
luncheons for coordinators, paying transportation costs for students who give talks at
Senior Centers and Naturally Occurring Retirement Communities (NORC's).etc. We have
such a long "wish list" of campus and community projects that a surplus is not likely. If
there were a surplus, our board might consider a gift to the library. In the past we have
made grants of $150 and $250 to non- profit theatre and music groups that offer us
"freebie's" during the year.
From Mona Sherman, Berkshire Institute for Lifelong Learning, MA
We at Bill have made contributions to our sponsoring organizations in appreciation for their
support.
From Sara Hardman, LLI, Bard College, NY
We give a grant to out sponsoring school. Bard students must each complete a senior project
in order to graduate. We sponsor several students to a maximum of $500 to complete their
project. Some of them involve costs like travel, special equipment and materials. We call it
"Seniors to Seniors." There is an application process and some time before graduation we
invite our members to hear the students report on their work and we have a modest
reception. It helps us and them in many ways.
From Gloria Burke, Lourdes College, OH
I don't think we've ever thought of them as surplus funds but we, of course, do have "extra"
monies from time-to time. We recently purchased QuickBooks Pro 2003 to make my job of
entering data easier. Up until now I had been entering it in three separate databases
(Microsoft Word, Access & Excel), but one of my very involved members began entering
our classes, "Roadrunners," dues, and other expenses in Quick Books at his home. The
program will allow me to enter a name when someone joins, then it automatically will enter
everything else that person has enrolled in. Also sometimes if I have extra monies, I will
invite a woman with whom I worked very closely during the early years of our program to
participate in a field trip or special event. Neither of these seems very creative to me, but just
thought I'd let you know.
From Diane Vetrovec, ICL, Roosevelt University, IL
We can pre-pay some advertising expenses, so last year when I had surplus funds I pre-paid
a $1200 ad that would be run in August when our fiscal year ended April 30. I've also
ordered stationery and marketing materials to stock pile when I have surplus funds at the
end of the fiscal year.
From Mary Quinn Burkhart, AUALL, Auburn University, AL
Wow! Wish we had a big surplus to worry about spending. We are allowed to carryover
from year to year any surplus in our account, so it is not a problem. Last year, we carried
over about $2500, which is about 5% of our annual budget. Our two biggest budget items
are salary for the very part-time administrator (that's me, I get paid for 8.5 hours a week, but
work more, of course) and room rental at our conference center.
From Beverlee Koutny, Chemeketa Center for Learning in Retirement, OR
Chemeketa Center for Learning in Retirement (CCLR) has used surplus funds to make
donations to organizations in the community that have helped us each year such as the local
library and the local historical society. We have also contributed to a scholarship for senior
citizens on the college campus. We solicit scholars in various disciplines and give them an
honorarium to give lectures on current events. We have had an expert on terrorism, one on
the Israeli conflict, another on U.S. foreign policy using the Choice program, another on
Northern Ireland and a lady who grew up in Iraq and now lives in Portland, Oregon and
works in the Middle Eastern section of Portland State University library. Sometimes the local
library helps fund the donation we give to these experts and sometimes we sponsor them on
our own. ALWAYS the lectures are open to the public and free of charge whether people
are members of our group or not.
From Carolynn Rafman, McGill ILR, Canada
MILR places the surplus funds (from $3 – 7k per annum) into an endowment fund with
McGill University. The interest is available for 'creative projects' generally travel to
conferences, like, EIN regional events.
From Louisa Strock, Center for Lifelong Learning, NW State CC, OH
At NSCC we're excited about our new home in the Heritage Room at the new Larry and
Ruth McDougle Conference Center--The College honored our Lifelong Learning program
with a luncheon last week. Visiting our new center (our former home has been transformed
into classrooms in the renovation program) was a pleasure. We will use any surplus funds
toward the new computer for the CLL's use in there. Another thing we do is
give each traveler an envelope with cash, somewhere on the early part of our travel-study (all
our travel prices are all-inclusive). We can't always do it, but the travelers are happy when
we can. As you know, we are on a pay-as-you-go basis, so there's never a big balance!
From Gary Dickinson, Society for Learning in Retirement, Kelowna, B.C.
Society for Learning in Retirement (Kelowna, B.C.) had accumulated a surplus over our
first six years of operation. This was expended this summer in renovating and furnishing
a portion of a building that we will be using for our programming.
From Noreen Frye, IRP, University of Miami, FL
We are so "non-profit" we don't think about surplus funds. However, we've had a
carryover balance for years, which ends up as a great fiscal and psychological safety net. We
don't spend out any monies. We watch pennies like crazy.
From Wendy Kerr, PLATO, University of Wisconsin
Ways to spend surplus funds: --purchase equipment for the LLI --produce marketing pieces
(mugs, pens, bookmarks, etc) --donate it to the host institution in return for any services
they provide through their sponsorship
From Norm Avnet, Berkshire Lifelong Learning Institute, MA
After keeping some surplus monies for emergencies, we make significant gifts to all our
sponsoring institutions and to places where we may have to hold classes that are not usually
scheduled. Everyone seems happy with this.
From Sandra Kerr, LIFE, Ryerson University, Canada
Our LIFE (Learning Is ForEver) Institute uses extra funds to help build an endowment
award for fulltime/part-time students in need who are working on projects, courses,
programs or activities which enhance the quality of life for the aging. This not only benefits
the students, but also ultimately benefits society as a whole, and gives the seniors
organization (i.e. LIFE Institute) a profile on campus. It's a big plus.
From Rose Marie Sepos, Atheaneum, Rochester Institute of Technology, NY
The Atheaneum has three funds available for members' contributions:
Operating Budget Fund - to support ongoing maintenance and coordination
of day-to-day operations.
Special Projects Fund - this fund enables The Athenaeum to make capital expenditures.
Athenaeum Legacy (Endowment) Fund - gifts to this fund are critical to the long-term
stability of The Athenaeum.
As noted, these funds are not really "surplus", but ways in which members can support the
program in addition to their annual dues.
From Sharon Sokoloff, Brandeis Adult Learning Institute, MA
Equipment that we wouldn't otherwise be able to buy, e.g.,
an LCD projector,
computers for computer learning classes,
for us --- tables and chairs --- that we need,
Things to improve the aesthetics of the program, e.g., art work
Guest speakers we could not otherwise afford
Higher quality publications, e.g., promotional materials and/or literary journal
More and better ways of thanking study group leaders, Council and committee members,
e.g., luncheons, meaningful books as thank you gift
Upgrading our web site
I don't know if these things apply to the PA program. We are young and have lots of basic
needs and many things on this list that we can't even begin to get to. I don't know the status
of their program but these are things that come to me quickly.
From Janice Sawyer, PIER, Hofstra University, NY
Surplus funds are donated to the PEIR Scholarship Fund
From Carol Carol Eliason, Learning in Retirement, Edison College, FL
At Learning in Retirement - Charlotte County (FL), we operate with three (3) funds "Contingency," (a reserve for unexpected expense or income shortfall which is, in reality, our
operating fund) - "L.I.R. Scholarship," (set aside to award free tuition to our L.I.R. programs
to deserving seniors) and lastly, "Edison Scholarship," (from which we set aside surplus
funds until they reach $10,000 - the minimum for which Edison Community College (one of
our sponsors) will accept a two-year "Named Scholarship" to be provided perpetually to a
deserving senior citizen. We currently have about $8,000 in the Edison fund and are
planning to make our first award sometime next year (2004) which will mark our eighth year
of operation.
From Leonie Gordon, Harvard ILR, MA
My first answer to your question is: What surplus funds?
Then, if I had to answer more productively, I'd volunteer that we have bought two laptop
computers and two video projectors for use in the classroom. People are now regularly
giving reports in the form of Powerpoint presentations, and these computers and projectors
are in daily use. A related, critical use of funds is to provide Internet connections in all the
classrooms and in the library. We do, of course, spend several hundred dollars a year on
new reference materials for the library, and will soon buy a laptop computer and printer
for the library to enable people to access the central catalogue at Widener Library, and to do
research for their reports on the Internet. We'll also buy a couple of CD Roms--the
Encyclopedia Britannica and the OED for reference use.
From Marcy Matherne, ILR, University of South Alabama
We are able to roll surplus funds into the next academic year. One thought is to establish a
scholarship fund. Our ILR established an endowment two years ago and will be making our
first award at our holiday luncheon. Most of the University faculty and space we use come
from Art and Sciences. As a way of giving back, scholarship recipients come from the
College of Arts and Sciences.
From Terri Dousias, ILR, Prarie State College, IL
We are considering the use of surplus funds for speaker fees for our senior community or
for senior scholarships.
From Burnell Held, Front Range Forum, Colorado
We have donated them to our sponsor to be used to purchase audio-visual
equipment that we use but share with other users.
From Deirdre La Porte, Learning in Retirement at Iona College, NY
Up until about three years ago, we didn't really have surplus funds, because whatever we
didn't spend was swept away at the end of the fiscal year into Iona's coffers (zero
budgeting). Now, we have made arrangements to have our surplus moved over into a
reserve fund that we can use for "large ticket" items, such as amplification systems of various
types, audio-visual equipment, and other electronic equipment. We have always used extra
money to subsidize social activities like our gala semester-end luncheons. We occasionally
provide "scholarships" for members who have difficulty paying our $150 annual
membership fee. We have also always given a "gift" ($2000) at the end of the fiscal year to
Iona, sometimes in the form of a cash stipend for an adult returning student, but usually for
something physical, such as a display case for recent faculty publications, a couple of
electronic keyboards for the performing arts department, and most recently a
spectrophotometer for the biology department.
From Jo-Ellen Unger, Academy for Learning in Retirement at Saratoga Springs
Empire State College, Saratoga Springs, NY
ALR used some of our funds to finance our 10th Anniversary Celebration, which included
publishing a 16-month ALR calendar packed with photos and ALR historical data, a
luncheon, holiday party, and an open house and all-day Humor Workshop, which was open
to the public. Not only did we have a wonderful celebration, but we garnered a great deal of
publicity for our program.
From Constance Smith, ILR, Slippery Rock, PA
We use surplus funds to build up a budget reserve - our goal is to have a reserve that could
cover one semester of operating costs with zero income. We also make donations to
university units that let us use their space; give nice 'thank you' gifts to our volunteer
instructors; have a free pig roast for members in the late spring; and give a small honorarium
to our 1/2 time Exec. Director (whose salary is the princely sum of $1 per year). We do not
give to community causes (worthy though they may be) because our primary purpose is not
fund-raising - its education. Our funds come from our members, so we try to use those
funds in ways that benefit the membership and increase the likelihood that the program will
continue in the future.
From Shirley Hibarger, UWF Center for Lifelong Learning, FL
After expenses for the UWF Center for Lifelong Learning are met, all remaining monies are
used to purchase items for the university that are not funded for them by the state.
From Lorene Porsild, ElderCollege, BC
With reference to your enquiry regarding the use of surplus funds, we believe that we have
developed a very workable policy for this purpose. Our ElderCollege is considered a
program of North Island College, which serves a vast portion of the northern part of
Vancouver Island. Since ElderCollege's inception in 1999 we have had a policy for gifts in
our Articles of Governance Bylaws and Policies and Procedures that states " C.V.
ElderCollege, on an annual basis, and at the discretion of the Advisory Committee, will
explore with North Island College an appropriate donation from any surplus over budget to
augment resources of mutual interest". The gifts to date have been as follows:- One Mac
Computer to be used in the College's Mac Lab. towards the purchase of a Multi Medium
System, railings placed in the aisles of the Theatre at the College Tables and chairs for an
addition made to the College. We trust this information will assist you in making your
decisions regarding surpluses.
From Peter Rivera, College for Lifelong Learning, TX
Center for Lifelong Learning, Univ. of Texas at El Paso makes annual contributions to the
University President's discretionary fund. The President has been applying those funds to a
lecture series she sponsors on campus: The Millennium Lecture Series.
From Rosemary McNerney, MALC, CT
MALC - Middlesex Adult Learning Center at Middletown, CT - has been carrying about $68,000 surplus for some years. Every once in awhile there is a big discussion on spending it,
but we always end up keeping it in reserve - just in case we have to rent facilities, etc. But
each year we gift the college outright, a minimum of $2,000, and sometimes more. We also
just spent about $3500 on our 10th Anniversary Dinner, - including favors and
entertainment - for which our members paid $10. Guess we will start saving toward the
15th.
From Sam Garfield, ILR, Boca Raton, FL
Our surplus funds have been used to make contributions to local teaching facilities for
migrant workers. Also we've had some social events e.g. wine & cheese parties.
From Jan Robers, Institute for Continuing Learning, Young Harris College, GA
As to disposal of excess funds, most of ours go to the Frances Evans Scholarship Fund at
Young Harris College to further education of local students in need of financial assistance.
Occasionally we will assist in a special need at the college, such as an Irish Studies Program
and we recently committed to help fund the Dr. Tommie Yow Scholarship Fund in honor of
the retiring college president who has been of great assistance to ICL. Frances Evans is one
of the founders and a driving force behind ICL.
From Marvin Schlaffer, Rutgers University Academy for Lifelong Learning, NJ
RUALL is using a $50,000 surplus out of our operations fund and a $50,000 gift from a
founding board member to kick off a quasi endowment building fund next spring. Note:
monies in the operations account does not earn any interest.
From Sharon Alexander, ILR, Copiah-Lincoln College, MS
We established an academic scholarship here on campus. We donated $5,000 to the Co-Lin
Foundation. We prefer the recipient to be a grandchild or relative of an ILR member. This
was awarded last spring for the first time.
From Dorothy Ross, Senior Learning Unlimited, UC Davis Extension, CA
We have used surplus funds to hold two different events: an all-day workshop for active
volunteers, and a fifth anniversary celebration for members and instructors.
From Peter F. Fredericks, Gold Leaf Institute, ME
Our organization is paying for a part time office coordinator and that is depleting the surplus
funds. It isn't very creative, but it is providing better organization for us.
From Bob Cooper, Elderwise, MI
Must confess, we had a nice chuckle over possible answers to your query. In short,
Elderwise in Ypsilanti, MI does not have "surplus" funds. Surplus funds in regular business
circles would be called profits; but we are not supposed to have profits as a non-profit
organization. Funds that are not expected to be working we have put into a bank savings
account. Interest is low; but until we get some kind of investment program in place,
it is a safe alternative.