Foundation Ins & Outs: May 21, 2009

AGENDA

Incoming fundsOn-Line GivingIncome distributions

ReportsPredicting the income

DisbursementsQ & A

Texas A&M Foundation

Gift ProcessingAnn Lovett, Manager

847-8700, ext. 137

Key Contacts in Gift ProcessingPhone Number 847-8700

Name Ext. For Questions About

Sharon Sanders 133 TokOpen/Imaging

Debora Voorhies 136 Pledge Reporting/On –Line Giving/Board Reports

Connie West 167 Foundation Gifts

Angie Wilson 132 University Gifts

Jesse Natal 188 Matching Gifts

Barbara Reed 134 Receipts and Acknowledgement Letters/Grant Tracking

Jeannette Templeton 103 Bio/Gift Entry in Advance

On-line Giving

http://giving.tamu.eduAccepting credit card donationsHow to Give-

On-Line giving instructionsCollege/Department AccountsOther

On-line giving Website

On-Line Giving Set Up for UnitsMays Business School-Marketing will work with to establish a link to our giving site this summerMarketing will coordinate with other units to schedule on-line giving process

On-Line Giving Policies

Donor must enter credit card information into website

For donor and TAMU Foundation security-credit card #’s will not be taken by phone or other media and entered.

On-Line Giving Policies

On-line Giving should be used for gift purposes onlyNon-Contributions for Texas A&M Foundation accounts should be handled through checks, EFT’s or ACH payments

On-Line Giving Policies

Only Texas A&M Foundation (TAMF) accounts will be listed on the website-TAMU like accounts may be added to the Foundation accounts for the websiteRequest for new accounts to the website needs to go through TAMF Marketing-Rachel Dohmann, 847-8700, x 144

Where to Get More Information

Intranet Sitewww.tamu.edu/fnetCampus ClientsPolicies, Reports, Forms, Contacts

Call the Foundation

QUESTIONS?????

Key Contacts in General AccountingLinda Jackman, Asst. Controller

Phone Number 847-8700, Ext 150

Name Ext. For Questions AboutDebra Bundren 142 DisbursementsBecky Hancock 145 GL Activity, Web SiteBecky Shaw 143 GL Activity, Non-ContributionsLori Gabriel 149 Scholarship projections, stock

transfers, payroll, expense reports

Foundation AccountsEndowed

04-3xxxxTracks contributions, pooled fund units and market value

05-3xxxxTracks investment income, fees, disbursements

Non-endowed05-7xxxx

Tracks interest income, fees, disbursements

EndowedGift

04-34567Non-EndowedGift & Activity

05-76543

$100,000 Endowed

Income &Disbursements

05-34567

$100,000 Non-End.

Gift to Foundation for TAMU

5% DEVELOPMENT FEE

Non-Endowed fee paid immediately Endowed fee paid over 12 months

Entire gift is investedFee collected as income is earned

1% Returned to College

05-76543Income Cash

$100,0005% Dev Fee

Non-Endowed Cash Gift

05-76543Income Cash

$95,000

Interest

Disbursements

04-34567Endowed Gift

$100,000Set up payable

For 5% Fee

05-34567To TAMF$4,000

05-34567To College

$1,000Invested

04-34567 Pooled Fund

Endowed Cash Gift

05-34567Cash

($416.67)Set up payable

05-34567To TAMF$4,000

05-34567To College

$1,000

Monthly Endowed Fee Collection

1/12 Fee Collection

INVESTMENT IN POOLED FUND

Purchase units at 06/30/2008 price $27.3442 per unit

3657 units cost $ 99,997.74Endowed Cash 2.26

04-345673657 Pooled Fund Units

7/1/08-6/30/09 $1.25 Per Unit/12

Monthly Pooled Fund Distribution (06/08 purchase price)

05-34567Cash

$380.94

Monthly Activity Summary(06/08 purchase price)

Income Cash

Pooled Fund Dist 380.94Dev Fee Collection (416.67)Ending Cash Balance (35.73)

INVESTMENT IN POOLED FUND

Purchase units at 12/31/08 price $20.58 per unit

4796 units cost $ 99,996.60Endowed Cash 3.40

04-345674796 Pooled Fund Units

$1.25 Per Unit/12

Monthly Pooled Fund Distribution (12/08 purchase price)

05-34567Cash

$499.58

Monthly Activity Summary(12/08 purchase price)

Income Cash

Pooled Fund Dist 499.58Dev Fee Collection (416.67)Ending Cash Balance 82.91

Predicting Cash FlowUsually 18 months before a new endowed account has sufficient funds for a scholarship paymentPooled fund payout

Ending in June 2009 #PFunits*$1.25/12Beginning in July 2009#PFunits*$1.17/12

Consider the Development Fee Payable10 business days to close a month—so you will not see the PF Dist until then

Where do I start?

Scholarship projections sent in FebruaryOR

Reports (www.tamu.edu/fnet)Monthly Account Summary (one line for each account) Monthly Statement (month’s activity including market value)

Monthly Account Summary p. 10

Summary of all accountsA good “at a glance” reviewTotal value, pf units, cash and activityUse to identify cash that need to be used

Monthly Statement Definitions(Permanently Restricted)

# PF UNITS= # of units held in the account (buy in each month at the current price as funds are available)BOOK VALUE=The total amount of contributions received over the life of the account (may also include transfers, matching, etc.)MARKET VALUE=

Current monthly value of the pooled fund investment +Cash awaiting investment +Other assets (stock awaiting sale, real estate)

NET RCPTS=Net receipts of gifts + transfer in –transfers out

Monthly Statement Definitions(Temporarily Restricted)

CASH RECEIPTS=all incoming cash for the month

Gifts, investment income, other revenues

DISBURSEMENTS=all outgoing cash for the month

Vendor payments, TAMU transfers, development fees paid

CASH AVAIL=cash at month end available for use

Predict the Cash Available(Account 34048 “Tiger’s Fund”)

Can we award $1000 for Spring?Current Cash @9/30: $628.34PF Units: 1,545

Monthly Cash income:1,545*1.17/12=$150.64

Oct, Nov & Dec: 3*150.64=$451.92Minus any Development Fee Payable

Cash @12/31: $628.34+$451.92-$0=$1,080.26PROBLEM: Annual cash income is only:

1,545*1.17=$1,807.65

Predict the Cash Available(VP for Student Affairs-p. 12, 13)

Can we transfer $20K in December to FMO?Current Cash @9/30: $15,535.68PF Units: 4,195

Monthly Cash income:PFDIST=$402.02

Oct, Nov & Dec: 3*402.02=$1,206.06Minus any Development Fee Payable

Cash @12/31: $15,535+$1206-$364=$16,377NO

Other Web Site Reports

Cash Activity Report (the same as the second page of the monthly statement) p.10

Refreshed weekly--Friday All activity may not be reflected for unclosed periods:

10 business days to close the month

Accounts Payable will be currentCash receipts, JEs, Pooled Fund entries will be later

Other Web Site Reports

Monthly Statement (p. 12,13)Fiscal year July-JunePage 1, Balance Sheet and Summary of ActivityPage 2, Cash activity for the month

Annual StatementFiscal year end June 30Same format as Monthly StatementHas yearly cash activity (7/1-6/30)

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DEAN’S REPORTS ( p. 14,15)

ANNUAL ENDOWMENT REPORTDEPARTMENTAL SUMMARY 6/30

5 YEAR ENDOWMENT REPORTCOLLEGE’S ENDOWMENT

BEGINNING MARKETACTIVITYAPPRECIATION (DEPRECIATION)ENDING MARKET VALUE

Disbursements- Key PointsTAMF Expense Voucher (p. 15,16)

Donor restrictionsUse current formOriginal receiptsAppropriate signaturesUse for transfers between Foundation accountsInventory -TAMU FDP4 & FDP414 do those on-line, enclose copiesAll scholarships are paid thru TAMU

Travel ReimbursementsActual, reasonable expenses (NO PER DIEM) ITEMIZED RECEIPTS REQUIREDState rate or coach faresIRS allows breakfast, lunch, and dinner when there is an overnight stay

Snacks, misc beverages are a personal expense

Organized & documentedExpense Reimbursement Form (p. 17)

WITHIN THE LAST 6 MONTHS

Key Points

If you have an unusual expense, please discuss with us before it happens to avoid any delays or rejection of expensesConsolidate transfers—do one voucher and e-mail excel spreadsheet

The TAMF CAN NOT make:

Taxable Payments and gifts to University Employees and StudentsReimbursement for Gifts Purchased for University Employees and StudentsPayments to non-employee foreign nationals for services provided in the US

The TAMF Can:Transfer funds to FMO Account for payment

Where to Get More Information

Intranet Sitewww.tamu.edu/fnetCampus Clients

Policies, Reports, Forms, Contacts

QUESTIONS?