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University of Florida Foundation

University of Florida Foundation. UF Foundation. Mission is to raise and manage private donations for University Programs 501 (c)3 not-for-profit Direct Support Organization (DSO) of the University Gifts of cash, securities, real property, equipment, art work, etc… Issue gift receipts

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University of Florida Foundation

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  1. University of Florida Foundation

  2. UF Foundation • Mission is to raise and manage private donations for University Programs • 501 (c)3 not-for-profit • Direct Support Organization (DSO) of the University • Gifts of cash, securities, real property, equipment, art work, etc… • Issue gift receipts • Maintain central gift records

  3. Gifts received • Gifts received are placed into a unique Source of Fund (SOF) number • Allows us to track revenues and expenses for each SOF number • Allows campus to view the particular donor intent and ensure that monies are being expensed in accordance with donor wishes • Each fund is assigned a fund administrator • Fund Administrator - Primary responsibility is to ensure donor intent

  4. Financial Accounting System (FAS) • The goal of this site is to make information accessible to fund administrators • Information obtained from FAS is considered confidential and not for public use • Shows fund balance, gifts to the source of fund, expenditures • Most importantly – Shows a brief description of the donor restrictions for each source of fund

  5. CAMPAIGN COUNTING • Fundraising counting versus GAAP • VSE = Voluntary Support of Education • Endowment market value • One big bucket of money? • Approximately 2700 individual endowments are pooled together for investment purposes • Current Endowment Policy included in your packet

  6. University of Florida Investment Corporation (UFICO) • Created in July 2004 • Separate DSO • Handles all of the UF Foundation’s investments as well as other DSO’s investments directly • Current challenging financial markets

  7. www.uff.ufl.edu • Fundraising and source of fund management policies • Listing of UF Foundation departments and staff contact information • Forms for transacting business with the UF Foundation • View under Library section on the webpage • Expenditures from a professorship/chair and scholarship/fellowship included in packet today

  8. ANY QUESTIONS? Alan West, CPA Controller, UF Foundation awest@uff.ufl.edu 392-5958

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