Policy 3110 – Use of Funds

Revision Date:  3/9/2021

Last Review:  3/9/2021

Original Effective Date:  8/26/2000

Responsible Office:  Division of University Advancement

Policy:

Restricted gifts are allocated by the Foundation according to the wishes of the donor. Gifts credited to restricted funds are used in accordance with the “Guidelines for Foundation Account Withdrawals.”

Unrestricted gifts are allocated by the Foundation to the unrestricted fund. The budget for the unrestricted funds of the Foundation includes such items as: production of the university’s annual report, funds for use by the Admissions Department in recruiting and advertising, operation of the Foundation’s fundraising activities (includes salaries, computer purchase and maintenance, telephone, maintenance of building, printing, phonathon expenses, donor recognition, supplies, etc.), legal fees, Quest for Quality professorship Awards, Foundation Professorship Awards, Scholarships, Student Recruitment expenses, and Student Advancement projects and promotions.

Definitions:

Not applicable

Procedures:

Not applicable