The University of Georgia Foundation How to Request Venture Funding :: Using and Requesting Unrestricted Foundation Funds :: UGA Foundation

 


How to Request Venture Funding

POLICY: 11.2
Effective Date: 01/01/2004
Last Updated: 03/21/2017
Policy Owner: Chupp, Debbie

The President's Venture Fund (PVF) was established to support students with funding for small programs and projects in amounts typically ranging from $500 to $5,000. Successful letters of request for small grants have included the following elements:

  1. A one-time need, which should not require annual renewal or be part of a regular annual budget. Special events, performances, and start-up costs are all good examples;
  2. A demonstration of matching support at some level—internal, departmental, college or school, and/or vice presidential—illustrating an institutional commitment to the program. Letters of support may be attached;
  3. A budget, with the portion of the event to be funded by the President's Venture Fund clearly designated. 

Funding opportunities are customarily brought to the President's attention by the Provost, a Vice President, Dean, or Department Head. In general, funding requests for research and academic programs are not supported by the President's Venture Fund. These requests should be directed to the Provost. 

Requests are reviewed monthly. One- to two-page letters with supporting materials seeking support from the PVF may be sent to the President's Office for consideration.     

Reporting Guidelines

Acknowledgments - Public acknowledgment of support from the President's Venture Fund should be included in any printed programs, reports, or publicity materials, as well as any acknowledgments to sponsors. Please use the following single line of text for such acknowledgments: "This program is supported in part by the President's Venture Fund through the generous gifts of the University of Georgia Partners and other donors."

Follow-up Report - A brief, one-page letter of report must be submitted following the completion of any program, activity, or event funded through the President's Venture Fund. The report should summarize the highlights of the program, attendance, discussion, and any other details that would help illustrate the impact of this program on the University and those in attendance. Included in this report should be a summary of expenditures. The report should be sent within 60 days of the completion of the program to:

Office of the President
University of Georgia
Administration Building
220 South Jackson Street
Athens, Georgia 30602


Policies and Procedures for Transferring Appropriation

Policy - In order to transfer Venture Fund appropriations in an expedient manner once approved by the President of the University, funds will be transferred to an existing UGAF nonendowed discretionary fund, if available.  If a Foundation fund is not available, a UGA account will be established for the specific purpose as identified by the funding request.

Procedures -

  1. Determine if the award can be transferred to an existing discretionary UGAF fund. If yes, Financial Services should be contacted as indicated on the award letter for further instructions to facilitate the transfer.
  2. UGA Foundation Policies and Procedures will be followed for expenditure of these funds.
  3. If a Foundation fund is not available for the transfer, a UGA account should be established to receive the award.
  4. A "Request for Account Addition/Change" form must be submitted to UGA Accounting, Business Services. This form is available from the University of Georgia website at http://fanda.uga.edu/facstaff/forms.

    Please indicate on this form
    ****"President's Venture Fund Appropriation As Funding Source"****
  5. After an account number has been assigned by Accounting, a budget amendment form (Item#12-0670 from COS) must be submitted to the Director of UGA Budgets, Business Services.
  6. UGA Policies and Procedures for Expenditures apply to expenditure of these funds.
  7. The Venture Fund account will remain open for twelve months from the date of account setup. If there are unexpended funds at the end of this twelve-month period, the UGA accounting office will notify the department of their intent to close the account and to transfer any remaining account balance to the UGA Foundation for deposit to the President's Venture Fund.