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Gift Administration Controller s Office-Foundation Accounting

UDAR and Controller's Office Partnership . Gift Administration and Foundation Accounting have a dual reporting relationship to both University Development (UDAR) and Controller's OfficeEffective Administration of Gift Processing and Accounting Needs the Best that UDAR and Controller's Office H

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Gift Administration Controller s Office-Foundation Accounting

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    1. Gift Administration & Controller’s Office-Foundation Accounting Essential partners in achieving UCSF's mission of “Advancing Health Worldwide”

    2. UDAR and Controller’s Office Partnership Gift Administration and Foundation Accounting have a dual reporting relationship to both University Development (UDAR) and Controller’s Office Effective Administration of Gift Processing and Accounting Needs the Best that UDAR and Controller’s Office Have To Offer Controller’s Office provides Accounting Controls and Cash Handling Discipline as well as Operational Management UDAR provides guidance in Gift Administration and Donor Relationships

    3. What is the UCSF Foundation? Separately incorporated tax exempt entity with unique TIN organized for the purpose of encouraging private support for the benefit of the campus Separate annual audited financial statements and reporting relationship to UCOP There are no UCSF Foundation employees; all employees are UCSF employees. UCOP has delegated authority to accept and receipt gifts for both Foundation and Regents to Campus Foundations. Gift Administration is the Office of Record responsible for production and maintenance of records for the Regents and UCSF Foundation to receive, accept and acknowledge gifts in compliance with UC policy.

    4. UCSF Foundation Financial Role Process, account, and report on all gifts to Foundation and Campus Invest all Foundation funds through Foundation Business Office 25+ investment managers $681.3 million in total assets as of June 30, 2009 Account for gift and investment activity for Foundation including investment pool accounting for over 500 endowment funds By UCOP policy, no campus foundation may directly pay vendors for campus programs, goods, or services; may pay for certain Foundation expenses such as insurance. Foundation funds are transferred to a Campus “mirror” fund for spending, in accordance with donor intent. $98.3 million transferred for FY2009 $525.2 million for 5 years ending FY2009

    5. Gift Administration Customer Service Phone: 415-476-3952 Email: custsvc@support.ucsf.edu Websites: Internal UCSF Customers http://controller.ucsf.edu/gifts/ External Customers (Make a Gift Website) https://makeagift.ucsf.edu/

    6. Types of Funds Current Funds: Gift Endowment Income Endowment Funds: True Endowment Fund Functioning

    7. Current Funds are “ Checking Accounts ” – They are spendable funds meant to be used for research, teaching, buildings, etc, as intended by the donor. Gift funds are comprised of gifts intended for spending by departments. Endowment income funds are comprised of accumulated payouts generated by funds invested as either True Endowments or Funds Functioning as Endowments.

    8. Endowment funds are permanent resources of UCSF, to be invested to generate a future income stream that supports the activities for which the gift was made. True Endowments, also known as Permanent Endowments, are permanently invested and may never be spent. Funds Functioning as Endowments are invested in the same way as True Endowments, but may be liquidated and spent under certain circumstances. Types of endowments and current required funding levels: Distinguished Professorship - $2.5 million Endowed Chair - $500,000 Fellowship/Lectureship - $250,000 and $100,000 Other - $50,000 minimum

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    12. All Gifts Must Be Analyzed For Donor Intent or Purpose Three Characteristics To Determine Donor Intent Who? - Location or School (SOM, SON, etc.) What For? - Purpose Buildings (Mission Bay, New Hospital) Research (Cancer, Stem Cell) Education (Scholarships) Patient Care Community Outreach (Neighborhood-Based Clinics) To Spend Now or Provide Spendable Funds Forever? Current or Endowment

    14. Cash Checks Wire Transfers Lockbox Credit Card Securities Gifts-In-Kind Matching Gifts Pledges Planned Giving (Bequests, Estates, Trusts) Real Property

    15. Individuals Foundations & Other Nonprofit Organizations Alumni Corporations Campus Support Groups

    16. Current Funding Model GIFT ASSESSMENT (Policy Statement 250-10): Gift Fee of 4% at time cash received, Spending Fee of 1% at time cash spent for donor purpose, and, No STIP flow through to current Gift and Endowment Income funds FOUNDATION ENDOWMENT MANAGEMENT FEE: 0.40% of 36 month average of endowment market values. Fee offset against annual endowment payout. FOUNDATION TRUST MANAGEMENT FEE: Fee paid by individual planned giving instruments for services of outsourced administration. Fee offset against proceeds when planned gift realized.

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