- What is the difference between a designated program and a campus program?
Designated programs are administration projects that are maintained by the Foundation management team. Campus programs are maintained by the department Project Director and fiscal authority (s).
- How do I know if a project number belongs to the Foundation or Corporation?
The fund number (5 digits) identifies the type of project.
- All Foundation funds begin with 96xxx.
- All Corporation funds begin with 92xxx.
- What is an endowment?
An Endowment is defined as a donation of money or property which uses the resulting investment income for a specific purpose. Endowments retain the corpus/principal and provide permanent sources of annual funding spend allocations for a designated purpose as stated by the donor. Donors may restrict the uses of the income produced or allow the institution discretion to make allocations.
- What is the minimum amount to establish a scholarship endowment or program endowment?
Per the CSUSM Foundation Management of Endowment and Similar Funds Policy, a total of $25,000 is the minimum amount required to establish a scholarship/program endowment. Gifts to an endowment may be funded over a five-year period to achieve the minimum requirement.
- What is the minimum amount required to establish a named non-endowed scholarship?
Per the CSUSM Foundation Management of Endowment and Similar Funds Policy, the minimum amount required to establish a named annual fund with a custom criteria is $2,500 (or multi-year pledge of at least $5,000).
- When is a project subject to the gift fee?
All contributions made to the CSUSM Foundation are subject to a 5% gift fee (except for annual/current-use scholarships equal to or under $25,000). Sliding scale for gifts greater than $2 million
Gift fees are charged to the project on a monthly basis for the total contribution received for the respective month.
- How is an endowment tracked?
The endowment principal, earnings, and spending allocations are tracked separately so the historic book value and any additional donations for each endowment can be maintained.
Each endowment is set up with three project accounts:
- 88xxx – Endowment corpus/principal
- 83xxx – Endowment (investment) earnings
- 82xxx – Endowment spending allocation
- When will a new endowment have a spending allocation?
New endowments (at $25,000 or more) must be in existence for a minimum of 12 months before a distribution is awarded. The spending allocation is posted to each endowment the following July of a new fiscal year.
- What is the spending allocation of an Endowment?
The spend allocation rate is reviewed and approved by the Foundation Board annually per the spending policy. The annual spending allocation is transferred from the endowment earnings to the endowment spend on an annual basis. Auxiliary Accounting notifies the Project Director via email in July of each fiscal year of a total of current spend allocation and prior year(s) unspent balances, if any.
- Where can I find available endowment spend allocations and campus program project
To view endowment spend allocations and campus program project balances, please use Data Warehouse. For training on Data Warehouse, please contact Auxiliary Accounting at firstname.lastname@example.org
- Where can I review a project’s purpose and allowable expenditures?
The project purpose and allowable expenditures may be viewed on the gift agreement and/or the project agreement. Please contact Foundation Project Administration (email@example.com) for any questions.
- What if the spending plan needs to be adjusted during the fiscal year?
If, at any point throughout the gift timeframe, funds are not expected to be spent or consideration for a new spending plan purpose may be needed, the Project Director shall immediately contact the Foundation Project Administration.
This is critical to honor donor intent and to provide Advancement staff with adequate time to work with the donor/s (if applicable).
- Who do I contact if I want to create a project? (scholarship, endowment, campus program)?
Please contact Foundation Project Administration at firstname.lastname@example.org.