BUSINESS NOTES &
NEWS
APRIL 2008
In This Month's Issue:
Department Who's Who
HUB Vendor of the Month
April Calendar
New Gift Card Request Form
Red Flags of P-Card and Travel Card
Procedure for the Jump Start Endowment
Open Commitment Review
Changes and Additions to Travel Card Guidelines
Changes and Additions to P-Card Guidelines
Online Verification Training
HUB Statistics
PCD Countdown
Essentials of Leadership
Hire Top-Performing Employees
Summer Graduate Student PAR Procedures
9/9 Pre-Collection Pay Cycle
New HR Form
ePAR Project Update
FrontLine
PRINTABLE VERSION
If you have comments or would
like to submit an article for the
Spotlight, contact Sara Carter at
scarter@uh.edu
Contents Edited by the
Administration & Finance Customer
Service Center
|
Procedure for the Jump Start Endowment
Jump Start Endowment Builder program is a
plan where a donor agrees to fund an
endowment ($25,000 minimum) over a period of
time and agrees to give an additional annual
gift equal to the expected payout of the
endowment. With this approach, distributed
earnings, less fees, are returned to the
corpus until the endowment is fully funded
and the annual gift supports the intended
purpose of the endowment. For example, a
$100,000 Fellowship would spin off $5,000 in
distributed income. With a Jump Start
Endowment, the donor agrees to make a
$25,000 a year gift: $20,000 of the gift
going to the endowment account and $5,000 of
the gift to an operating account to be spent
yearly. When the endowment is fully funded,
the donor would cease making that particular
operating gift.
When the endowment agreement is received by
Treasury for a Jump Start endowment, Anne
Montgomery will create the cost center for
the endowment corpus and notify the
department of the cost center information.
The department is then responsible for
creating two fund 4 cost centers to support
the Jump Start endowment – one for the
endowment income (fund code 4028) and one
for the private gifts (4041) for operational
support in the college or division. These
cost centers will have the same program as
the fund 6 endowment corpus cost center. The
restrictions outlined in the endowment
agreement will apply to the operational,
private gift cost center.
Stewardship will notify Treasury when an
endowment is considered to be a “Jump Start”
and Treasury will inform Donor and Alumni
Records of the 4041 cost center so the
pledge for operational support may be
credited to it.
|
