The University of Georgia Foundation Contributions to Benefit Student Organizations :: Gift Accounting :: UGA Foundation

 


Contributions to Benefit Student Organizations

POLICY: 4.11
Effective Date: 07/01/2005
Last Updated: 10/14/2014
Policy Owner: Derek Clark

Revenue generated by club activity will continue to be handled through University agency accounts.  This policy is intended only to address private contributions restricted to support club activities, in order for those contributions to be received and receipted by a 501(c)(3) charity and included in UGA fundraising reporting.

The following procedure has been recommended by the UGA Foundation and UGA Student Affairs, and has been reviewed and approved by Tim Kelly of UGA Legal Affairs and Chad Cleveland of UGA Accounting:

  • Donor makes gift with restriction to benefit a particular student club;
  • UGAF accepts gift, issues gift receipt to donor;
  • UGAF sets up one fund for all of the student organizations receiving donations in this manner;
  • Check Requests on this fund would be initiated through Student Affairs (Tate Student Center Business Office) and sent to UGAF for processing and payment;
  • Student Affairs will maintain a subledger for all transactions and will provide an accounting and reconciliation to UGAF on a monthly basis detailing all student organization transactions. 

If a particular student club will raise many gifts over time, or receives a major gift that will be spent over a long period of time, Student Affairs may request that the Foundation establish a separate account for that club.  This will be done on an exception basis for ease of accounting.  These individual accounts will also be administered according to the guidelines above, without the need for a subledger.

The Vice President for Student Affairs will be the Donor Representative to the fund agreements, and signature authority will be assigned to that office.  Student Affairs will continue to be the student groups’ point of contact regarding UGAF funds and will work with UGAF to address any questions concerning the funds.

Expenses allowable from UGAF funds include those related to a club’s meetings and other activities that benefit student participants and further the mission of the University.  This will be communicated by Student Affairs to those student groups receiving contributions under this policy.   For purchases of electronics, equipment, and furnishings initiated by Student Affairs, UGAF Expenditure Control will follow UGA policy and when appropriate, will work with Student Affairs and UGA Property Control to identify a UGA account to hold the property.  

For any non-cash contributions, UGAF policy will be followed, including review and approval by the Gift Acceptance Committee (GAC).  In order for gifts of tangible personal property to be accepted, UGAF will work with Student Affairs and UGA Property Control to identify a UGA account to hold the property.

 

For any questions about this policy, please contact Brandon Scott, UGA Foundation, 706-542-5787.