Foundation Account Establishment/Updates

Reasons for new account establishment

• A University department needs a discretionary (general) fund when one does not exist.
• A donor requests that a fund be established to memorialize or honor the life of a loved one, in accordance with meeting the account naming guidelines.
• A donor contributes a large amount of money, meeting the account naming guidelines.
• A donor contributes money with the intention to establish a new account with a purpose unlike currently existing accounts.

Process to establish an account

• All new account requests must be directed to a Foundation development officer. The Finance Department can assist in directing questions to the appropriate development officer.

To change an account description

• All account description changes must be made through the development officer and the Finance Department.
• If you intend to change an account from a specific fund (such as research, scholarship, equipment) to a general fund, all previous donors must be notified of the pending change, unless they were informed when solicited that the funds could be used otherwise.