Any revenues other than gifts must meet special rules and requirements to be deposited at the Foundation. All revenues must be business related to the exempt status of the Foundation Policy 8.18.3 UBIT of the Foundation's Policies and Procedures. Revenue generated from conduct of UGA business must be deposited with UGA, not UGAF. Business related other income of the Foundation may include revenues from the following activities:
- Expense Reimbursements - Refunds or reimbursements of specific disbursements from Foundation funds.
- Events / Registration Fees - Revenue from business related events sponsored by UGA departments for donor or alumni activities. The expenses for the event must be paid solely from the Foundation.
Academic or professional development event revenue should go to UGA. If any expenses are paid with UGA funds, the revenue should be deposited at UGA.
- Fundraiser Event - Revenue from event tickets or auctions for fundraiser events.
Any fundraising event intended to generate revenue by virtue of ticket sales and/or sponsorships require prior approval from Development and the Senior Vice President for External Affairs (Reference Policy 2.3 Fundraising of the Foundation's Policies and Procedures)
- Sale of Merchandise - Only sale of merchandise directly related to a UGA Foundation event will be allowed. The merchandise must have been approved on a Merchandise Approval Form, which should accompany the deposit. (Reference Policy 12.2 On-Line Store and Event Procedures of the Foundation's Policies and Procedures). The merchandise must have been purchased with Foundation funds, and the deposit must be made to the same Foundation account that funded the purchase. Due to tax implications, there must not be any profit from the sale of the merchandise. UGA departments should use Follett Bookstore to sell departmental merchandise not related to an event.
An Inventory Control Form should be forwarded to the Financial Services department of the Foundation within 30 days of the event. The form can be found in the UGA Foundation's Administrative Forms.
- Contractual Revenue - Royalty payments from contracts approved for the conduct of Foundation business. Any contracts must be first approved by the appropriate Dean/Vice President and then by the Chief Financial Officer of the Foundation.
- Travel Tours - Only revenue from travel tours that further the mission of UGA will be allowed. The travel tour policy should be followed and a Travel Tour Approval Form should be submitted to the Office of Gift Accounting.
If you have any questions on whether a specific transaction will be considered acceptable other income, please contact the Foundation Accounting Office.
All Other Income should be transmitted using the Other Income Deposit Transmittal Forms. A complete description of the activity is required.