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Processes for ensuring that gift funds are spent?

  • 1.  Processes for ensuring that gift funds are spent?

    Posted 22 days ago

    Hello, all –

     

    I hope you're having a great week. 

     

    May I ask if any of your institutions have processes or policies that help ensure that gift funds are spent on a regular and timely basis?  For instance, are budget administrators encouraged to spend a certain percentage of their available gift balances each year?  Or, are there reports that go to budget administrators when there are gift funds that aren't being spent on a regular basis? 

     

    I'd appreciate any input you're able to provide. 

     

    Many thanks,

     

    Michael Halverson, Ed.D.
    Senior Director of Advancement Services
    Loyola University Chicago
    T.
    312-915-7283 | C. 320-363-4987
    mhalverson@luc.edu | www.luc.edu/advancement

     

    150_email_150_31

     



  • 2.  RE: Processes for ensuring that gift funds are spent?

    Posted 21 days ago
    Hi Michael -
    We (CU Foundation) have developed a large scale process to help fund managers spend funds in a timely manner. While we don't have any authority over spending, we have been working with our individual campuses to communicate the responsibility to spend in a timely manner while giving them all the information they need to actually spend. Prior to us developing a more systematic approach to capturing donor intent, the fund managers did not necessarily have a complete picture of what funds can/should be spent on - leading to underutilized or unspent funds. Two (or three by now) of our four campuses are now using a utilization tool that calculates a utilization rate per fund and some are even trying to tie utilization to performance. So, we are on the right track. Happy to discuss more to see how we could help.

    Saskia

      

    Saskia H. Sawyer

    she/her/hers

    Assistant Vice President, Gift Services

    University of Colorado Foundation

    1800 Grant Street, Suite 725, Denver CO 80203 

    t 303.813.7934 | c 303-507.8251

    Saskia.sawyer@cufund.org | cufund.org 

     



    ------------------------------
    Saskia Sawyer
    Assistant Vice President, Gift Services
    University of Colorado Foundation
    saskia.sawyer@cufund.org
    ------------------------------



  • 3.  RE: Processes for ensuring that gift funds are spent?

    Posted 21 days ago
      |   view attached

    Hi, everyone.  We developed the attached some time ago, and updated recently.  It provides an overview for our fund stewards.   I review outstanding balances and bring concerns to the appropriate individuals.  This also – sometimes – helps me get access to the use of funds for reporting.

     

    Best regards,

     

    Tracy

     






  • 4.  RE: Processes for ensuring that gift funds are spent?

    Posted 21 days ago

    Thank you!

     

    Michael Halverson, Ed.D.
    Senior Director of Advancement Services
    Loyola University Chicago
    T. 312-915-7283 | C.
    320-363-4987
    mhalverson@luc.edu | www.luc.edu/advancement