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The Krieger School of Arts and Sciences receives donations that
can be used to establish a gift account, to create a new endowment
or to supplement an existing account. Donations may be unrestricted
by the donor or designated for a specific purpose. At its creation,
each new gift and endowment account is determined by the Dean to
be used by the department as additional revenue or by the Dean's
Office as budget relief based on donor restrictions and consultation
with the Development Office. Copies of all correspondence related
to new gifts, new endowments, pledges and bequests should be sent
to the KSAS Business Office.
A donation is designated as a GIFT when:
- There
are no reporting requirements associated with the monetary donation.
- The
donor does not intend to request the funds be endowed.
Arts & Sciences Procedures for Set-Up of New Gift Account
- Departmental
Administrator sends original back-up documentation, check and
Check Deposit Form (see Tools) plus one copy of each to the Arts
& Sciences Business Office.
- Business
Office establishes the new account and notifies department of
the account number.
- The
Business Office will process the budget allocation.
- Unexpended
balances are normally carried forward to the next fiscal year.
A donation is designated as an ENDOWMENT when:
- Donations
are $20,000 or more.
- The
Donor has requested funds to be established as an endowment.
- Donations
in hand totaling less than $20,000 are held in a pending account
until that threshold is met.
Arts & Sciences Procedures for Endowment Set-Up
- The
Board of Trustees must approve the establishment of all new endowments.
- After
the Business Office receives an endowment request, a recommendation
will be submitted to the Treasurer's Office for Board of Trustees
approval.
- The
Business Office will notify the department of the assigned account
number for the endowment interest income.
- Only
interest income on the endowment is budgeted for specific use.
The Business Office will process the budget allocation.
- Unexpended
balances are normally carried forward to the next fiscal year.
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