Oregon State University

210: Gift Funds

Grant, Contract & Gift Accounting Manual
Section 210: Gift Funds
Revised: 08/08/2003

  • 210-01: Gift Types
  • 210-02: Revenue
  • 210-03: Deposits into Agricultural Research Foundation (ARF) and OSU Foundation (OSUF)
  • 210-04: Transferring Funds from OSUF or ARF to OSU
  • 210-05: Gift Funds
  • 210-06: Interest

210-01:  Gift Types

Gift Funds:

  1. Are established upon request for affiliated foundation donations to OSU. 
  2. Are established for direct gifts to the university.
  3. Generally, are not defined at a level lower than the department.
  4. Use activity codes to further define donations and expenditures.
  5. Should not be deposited into or expended from OSU education and general funds, statewide funds or designated operations funds.
  6. Can be expended when cash is available.
  7. Are not budgeted.
  8. Can have all allowable expenditures for OSU placed on them.
  9. Fundraising or donor-related activities should be paid directly from the affiliated foundation.

Gift Fund Account Codes

FSXXXX – Any OSU foundation source

438XXX – Endowment earnings from OSU Foundation with State match (008XX)

FEXXXX – Endowment earnings from OSU Foundation with no State match

FAXXXX – Gifts from Agricultural Research Foundation
Note: If fund title contains an end date, this fund is a contract, not a gift.

M2XXXX – Gifts to OSU from any outside source for restricted expenditures.

M3XXXX – Gifts to OSU for Library Book purchases

M4XXXX – Gifts to OSU for scholarships.  Also OSU endowment earnings for scholarships.

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210-02:  Revenue

Donations or gifts received for OSU restricted gifts should be forwarded to the Office of Post Award Administration for reporting and deposit.  Include with the check any letter or other documentation received from the donor.  OSU cannot accept donations from current employees or emeritus faculty.  These donations must go through OSU Foundation. The Office of Post Award Administration (OPAA) will send each donor an acknowledgement as required by IRS statutes.

All gifts to OSU are charged a gift fee. See GCG 210-07: Gift Fees.

See GCG 202: Revenue for further information on revenue.

Information on gifts to the OSU foundation is located on the OSU Foundation website.

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210-03:  Deposits into Agricultural Research Foundation (ARF) and OSU Foundation (OSUF)

Deposits into OSUF and ARF are restricted to true gifts or proceeds from fund raising activities in which the donor intends that the gift go to the foundation(s). The following procedures apply:

  1. Gifts deposited into foundations must be payable to the foundations. If checks or other negotiable paper are made payable to Oregon State University, they must be deposited directly with OSU. If the department can document that the donor intended the gift to go to the foundation, Business Affairs will issue an OSU check to the foundation.
  2. Copies of all documents supporting the fact that it was the donor’s intent that funds be deposited to the foundation instead of OSU must be attached to the check request.

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210-04:  Transferring Funds from OSU Foundation or Agricultural Research Foundation to OSU

Funds transferred from the OSU Foundation (OSUF) or Ag Research Foundation (ARF) must be placed in an OSU restricted fund that properly reflects their intended use.

To transfer amounts from OSUF and ARF to restricted OSU funds, send a departmental request to OSUF or ARF that complies with the donor’s restrictions. This allows the foundations(s) to make a deposit to the OSU restricted fund. OSUF requires data warehouse query be attached as evidence that OSU has approved expenditure payments which OSUF is reimbursing.

Restricted OSUF and ARF funds should not be over drafted.  Departments should request that funds from the foundation(s) be transferred before or as soon as possible after the expenditures are made.

These funds are interest bearing.  The Oregon University System (OUS) Controller’s Division will charge interest to any fund in overdraft status at month-end, as is the policy for all gift funds.  Payroll and other payroll expenses (OPE) can be requested one month in advance.

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210-05:  Gift Funds

Gifts cannot be deposited into general funds.  Checks received as gifts should be routed to the Office of Post Award Administration for deposit along with donor letter and/or restrictions.  Special indexes have been established for each department for the deposit of gifts.  These indexes all begin with “M”.  Gifts cannot be deposited into an FS index.  These indexes are only for deposits from OSUF.  See GCG 210-07: Gift Fees.

When a gift is received that is for the specific purpose of cost sharing, the Office of Post Award Administration will set up a restricted fund to hold the cash donations for the cost share.  A gift fee is not applied to these funds.

Information on gifts to the OSU foundation is located on the OSU Foundation website.

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210-06 Interest

Gift funds earn, or are charged, interest based on the cash balance at the end of each month.  This interest is recorded each quarter.

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