Information Resource Request (IRR) form available from EIT/ Lee Hall 303
The Florida A&M University Foundation, Inc. solicits and accepts private gifts, including in-kind gifts, to Florida A&M University. In addition to the development functions, the Foundation manages the assets under its control, and disburses monies to support University programs.
The administrator of the Foundation is responsible for disbursing monies for the purpose intended by the donor.
We recommend that you read all of the materials completely to familiarize yourself with Foundation procedures. This document has been developed to assist University personnel in understanding Foundations operations and the management of assets.
The Florida A&M University Foundation, Inc. was incorporated in the State of Florida on August 3, 1966 as a non-profit organization.
The Foundation is designated a charitable organization under Section 501(c)(3) of the Internal Revenue Code.
The purpose of the Florida A&M University Foundation, Inc. which is governed by a volunteer board, is:
To encourage, solicit, receive and administer gifts and requests of property and funds for scientific, educational and charitable purposes, all for the advancement of Florida A&M University.
To take and hold either absolutely or in trust for any of said objectives and purposes, funds and property of all kinds, subject to any limitations or conditions imposed by law or the instrument under which received;
To sell, lease, convey and dispose of any such property and to invest and reinvest any proceeds and other funds, and to deal with and expend the principal and income for any purposes herein authorized;
To act as trustee; and in general, to exercise any, all and every power, including trust powers, which a corporation not for profit, organized under the laws Florida for the foregoing purposes can be authorized to exercise.
Establishing New Foundation Accounts
A new account in the Foundation may be established for any worthwhile purpose, which supports the University’s stated goals and mission. This purpose should be clearly stated at the time the account is established. A minimum of $20,000 is required to establish an Endowment account. Accounts are established and categorized on the basis of the information provided on the Account Information Form. This form must be completed in full; including all signatures before being submitted to the Foundation.
>>click here for AIF form
In most cases, the wishes of the donor will provide the most important criterion for determining the account name, type of account, and restricted purpose. This purpose should be clearly stated on the Account Information Form (AIF) at the time the account is established.
Project Name – The project name is referred to in all donor acknowledgments and stewardship reports and, therefore, it should clearly and concisely reflect the purpose and intent of the account.
Project Administrator – The Project Administrator is the individual who is responsible for expenditures from the account. If the Project Administrator is a Faculty or Staff, the approval signature of the Dean or Director is required. If the Project Administrator is a Dean or Director, the approval signature of the Vice President or Provost is required. The Dean, Director or Vice President of a college or unit appoints new Project Administrators. If the new Project Administrator will be the Dean/Director, or if the Dean/Director is not available to appoint a new Project Administrator, the request will require the signature of the appropriate Vice President or the Provost. Associate or Assistant Deans may not appoint Project Administrators.
Fund Type – It is extremely important to indicate if the account is to be classified as Endowed. An Endowed account will be assigned a principal project number and a spendable project number. Gifts deposited into the principal account may not be expended. Net expendable income (as determined by the Foundation’s Board) is transferred to the expendable or operating account for use. Minimum required amount to open an Endowed account is $20,000. Non-endowed accounts have no distinction between principal and income.
Source of Funding – The funding source and amount of funding must be provided.
Purpose – Identify the type of activity this account is intended to support and any donor restrictions on the fund’s use. Remember to be specific.
>>click here for AIF form
PROCESSING, DEPOSITING, AND AND RECEIPTING ASSETS
All gifts for the enrichment or benefit of the University must be sent immediately to the FAMU Foundation for deposit. A completed Asset Transmittal Form (ATF) should accompany all assets (i.e. cash, checks etc.) sent to the Foundation for deposit and receipting.
All checks of $5,000 or more and all-negotiable securities should be hand carried to Foundation to expedite processing and to ensure receipt by Foundation. Every gift from the private sector must be acknowledged by the Foundation. All gifts to the University in the form of a check, money order, or credit card should be made payable to the Florida A&M University Foundation, Inc. and forwarded to the Foundation. Checks made payable to Florida A&M University or any University entity, such as a college or department, require the donor’s written permission to deposit these funds in the Foundation.
A copy of any memorandum or correspondence that accompanied the gift must also be sent to the Foundation. Copies of all correspondence relative to the deposit should be attached to Asset Transmittal Form. All deposits from corporations or individuals that may be questionable as to their classification regarding unrelated business income will require a written statement from the donor clarifying the status of the gift.
The following is an explanation of the Asset Transmittal form:
Deposit for Project # - Always verify the project # before submitting assets to the Foundation for deposit. A transposition of the project # could cause the asset to be deposited in the wrong fund.
Project Name – Be sure to indicate the name of the project. This will help in ensuring that the correct project # is processed for deposit.
Type of Deposit – Check only one type of deposit per transaction. Please do not combine different types of deposits on the same transmittal.
Name of Donor or Payer – List each donor separately. Be sure to provide an address for the donor or payee, if not shown on the asset. In the case of corporate checks, please specify the company’s representative’s name and the correct mailing address, if different from the address provided on the check..
Received/Verified by – Upon verification and signature by the authorized personnel of Florida A&M University Foundation, Inc. Accounting Office, please retain a copy of the transmittal for your records.
Please note: Cash should be hand-delivered to the Foundation’s Accounting Office. A copy of the transmittal will be issued to courier to confirm delivery.
>>click here for ATF form
FAMU Faculty and Staff may make charitable contributions to the following projects: Faculty & Staff Fund, Second Century Fund, and Annual Fund at the Foundation through payroll deductions.
To initiate a payroll deductions please contact the Director of Development or the Foundation at extension 3860. The donor should indicate the total amount to be deducted biweekly and the project number and the name of the program being supported. Payroll deductions are made from 24 pay periods annually. Payroll deductions will continue until employment terminates or until a letter is submitted by the employee requesting to stop the deductions.
top Corporate Matching Gifts
A Corporate Matching Gift is any negotiable gift such as cash stocks, bonds. An Asset Transmittal form must be completed and you must send your company's matching gift form and information with your gift. Benefit to donor is a tax deduction of individual gift.
Numerous companies and employers will match gifts made by their employees for the benefit of Florida A&M University. Employees can obtain matching gift applications from their personnel office and submit the forms with their gifts. If you receive a matching gift form, please forward the form to the Foundation’s Office. We will process the form and send it back to the employer of company. When the gift is received from the company, it is deposited into the same fund as the original gift. Contact Foundation for more Information.
>>click here for ATF form
State of Florida Matching Gifts
Projects totaling $100,000 or more to create an endowment for an academic purpose may be eligible for state matching funds. Also, certain gifts for construction or renovation of academic facilities may qualify for state matching funds. All such gifts should be reported to the Vice President of University Relations. The Vice President of University Relations is responsible for reporting the status of such gift and requesting the matching funds. Contact the Vice President of University Relations or the Foundation for details and legalities.
A pledge is a gift made over one or multiple years through written agreement with the University. There is no tax deduction until gift is made.
Please contact the Office of Development for more information:
Office of Development
Lee Hall 203
Tallahassee, FL 32307
Original receipts and invoices and any other important documentation must accompany all disbursement requests. Be sure to staple original invoices, receipts and other acceptable documentation to the Direct Disbursement Request form. Photocopies or requests received without supporting documentation will be returned to the requestor or requesting organizational unit. Please remember that the employer identification number (vendor tax ID) or an individual’s social security number is required for payment.
Project name and number: The request must have the proper project name and project number. The project numbers consist of four-digits. In the case of a three-digit project number, add a zero before the number (i.e. project #: 304, should be 0304 and 022, should be 0022).
Payee Information: The request must provide the payee’s complete name, Social Security (SSN) or Employer Identification Number (EIN), and a permanent mailing address (not a campus address). Please ensure that this information is correct and legible.
Description and Purpose: This section is required to assist in the auditing process and should explain the expense, the business purpose, and the benefit to the University.
Contact Information: The name, department, campus address and telephone number of the person initiating the request should be included in this section. The Foundation will contact this person if additional information is required. If there are special instructions please provide the information in the space provided.
Signature Approval: The authorized Project Administrator and the authorized Dean or Director and the appropriate Vice President must all sign direct disbursement requests.
>>click here for DDR form
Travel Authorization Form
Travel advances are not recommended but are sometimes required. Requests for travel advances should be submitted on the Cash Advance Acknowledgement Request form along with a University Travel Authorization Form (TAR) stating the business purpose and benefit to the University and proposed expenses. The original receipts are to be submitted to the Foundation upon completion of the travel, with the attached Travel/Entertainment Voucher. Be sure to include the amount of cash advance received on the Travel/Entertainment Reimbursement Voucher.
The Foundation will reimburse 100% of meal expenses incurred during the approved period of travel. The Foundation will continue to pay per diem for travel, however the individual must select either actual or per diem for the period of travel. Original receipts will be required to receive 100% reimbursement for meals. Receipts should be dated and have the vendor's name printed on them. Meal receipts and hotel bills must be itemized.
Business Meals Away From Home
Meals incurred while traveling on business are reimbursable if the travel includes at least one night of lodging away from home. Meals must be consumed away from home. (e.g. breakfast eaten in Tallahassee prior to traveling out of town is not reimbursable).
Business Meals Not Away From Home
Meals consumed while not away from home are not normally reimbursable by the Foundation. IRS allows certain exceptions:
1. FAMU faculty/staff member has a meal with a prospective donor or volunteer
2. FAMU faculty/staff member has a meal with a representative of an external business related organization to discuss matters of benefit to the University.
3. FAMU faculty/staff have a meeting with a FAMU business purpose and the meal is consumed during the meeting.
Cash Advance for Meals
All requests for travel advances must be accompanied by the Foundation's Cash Advance form. Upon completion of travel the original receipts should be submitted to the Foundation Accounting Office, 203 Lee Hall. Receipts should be taped to an 8.5 X 11 sheet of paper.
Receipts for Meals for More Than One Individual
Receipts for meals which are for more than one person must be submitted along with the names of the individuals attending the meal and the business purpose of the meal. A standard meal allowance ranging from $30- $46 for certain high cost areas is recommended.
Expenses Not Reimbursable
Expenses that are lavish or extravagant or that are for personal purposes are not reimbursable.
The Foundation will only reimburse those meal expenses that are considered deductible business expenses by the Internal Revenue Service. The expense must be incurred for a clear business reason.
The Foundation also pays per diem for daily meal expenses. The per diem amount allowable by the Foundation is under review. The current per diem is $21.00 per day. ($3.00-breakfast, $6.00-lunch, $12.00-dinner). Receipts for meals, which are for, more than one person must submit the names of all that attended the meal. It is important to state the business purpose. IRS regulations required detailed information for such reimbursements. Hotel bills must be itemized. Original receipts are required and should be taped to a sheet of letter-sized paper.
Persons who utilize travel agents should make their reservations and pay for them personally and submit a request for reimbursement on the Travel/Entertainment Reimbursement Voucher along with a Direct Disbursement Request form.
The Travel/Entertainment Reimbursement Voucher form must be attached to a Direct Disbursement Request whenever an individual is reimbursed for travel and entertainment expenses that are paid out-of-pocket. All travel and entertainment expenses must comply with IRS regulations and state the business purpose for reimbursement. Original receipts must accompany the Travel/Entertainment Reimbursement Voucher. Be sure to include the dates, travel origins and destinations, purpose or reason for the travel/entertainment. Travel expenses including lodging, airfare, rental cars, cab fares, tolls, parking, hotel telephone or fax, and per diem. An individual can be reimbursed for gas and mileage depending on the travel situation. List airfare, business calls, registration fees, cab fare, etc. in the incidental column. Itemize lodging by the date. List the names of all individuals entertained. Also highlight the amount on the receipt to be reimbursed. The Travel/Entertainment Reimbursement Voucher must be signed and dated by the traveler.
>> click here for T/E Voucher form
Payments for services must be made directly to the individual who performs the service. An IRS Form 1099MISC will be issued by the Foundation to the recipient for income tax purposes
Direct Disbursement Request must contain the individual’s full name, permanent address used for income tax purposes, Social Security Number (SSN), or Taxpayer identification number (EIN)
Request for payments for services must be accompanied by a signed Agreement for Services Rendered, contract, or an invoice for services rendered
State University System policy states that payments for services cannot be made directly by the Foundation to any employee of Florida A&M University or an affiliated organization. Therefore a W-9 form must also be completed and submitted to the FAMU Foundation
The Cash Advance form is used for goods and services in which a receipt or invoice is not available, but will be received upon payment. The individual receiving the cash advance is responsible for submitting all original receipts, invoices, and required documentation to the Foundation within 10 days of receiving the advance or return from travel. The amount of the cash advance should equal the amount of goods received or services rendered.
If the goods and services received is less than the cash advance issued to the individual, the individual must complete an Asset Transmittal in repayment of the advance.
>> click here for Cash Advance form
Scholarships and Award Procedure
Financial aid to students should be processed through the Office of Financial Aid. The Project Administrator submits an award notification form to the Foundation. If funds are available, the form is transmitted to the Office of Financial Aid, which authorizes disbursements. Once funds are disbursed by Student Financial Services a bill or invoice is submitted to the Foundation for payment.
Scholarship Procedures above are subject to change. In this case, departments may be required to provide an award letter with the appropriate signatures to Foundation Accounting. The Foundation will then sign the form and process payment to the Financial Aid Office. Students will receive funds through the Financial Aid Office.
Please contact Foundation Accounting at 599-3860 to verify which procedure is appropriate for your department.
Policies and Procedures Manual Update Policy
The FAMU Foundation, Inc. reserves the right to update, add, or delete pages or sections as rules and regulations change. Revised pages of the manual will be distributed to all Project Administrators as changes occur.