The Monthly Ledger
A publication by the USM Foundation's Business Office
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Looking Ahead


Next month, we will post details about our upcoming grant processing workshop. We are tentatively planning to host the workshop in February.


We have completed scanning all of the account agreements. We are now working on finalizing the scanning of any missing MOU's and we may contact you over the next few weeks to help us find some of these missing documents.

Help Us Help You!


Disbursement Request Forms (DRF) 


1. Staples continue to be an item of concern. We have included a gentle reminder on the new DRF form to not include any staples when submitting your paperwork. 


2. Please remember to include the first two digits of your Project number. Without the first two digits of your project to identify your campus, your DRF could be posted to the wrong project. With over 3000 projects in our financial system, some numbers repeat and are unidentifiable without the campus code. 


3. Please be mindful that Foundation expenses codes are different than your campus subcodes. We have a cheat sheet to help you become familiar with Foundation expense codes. Beginning in the new year, items may be returned for incorrect codes. 




1. Please remember to refresh the page when you log-in to ensure you are viewing the most up-to-date data.


2. Please remember to properly exit Dashboard by clicking on the File Menu and selecting "Exit and Signout." Failure to do so will keep the license open, preventing others from accessing data. Additionally, you will be unable to log-in the next time you try to access Dashboard.


3. If you need help with Dashboard send us an e-mail


4. We continue to monitor the processing times for opening Financial Edge and refreshing the dashboard. Please continue to let us know if you see a significant reduction in processing times.

Who We Are


Director of Business Operations



Accounting Associate -
 Accounts Payable



Bernadette Mannone

Accounting Associate - 

Gift Processing

301-445-2704 ______________________________ 


Dawn James

Administrative Assistant to the Vice President for Finance and CFO

301-445-2713 ______________________________ 


John Simcox

Staff Accountant and 

Payroll Administrator

301-445-2734 ______________________________ 


Kate Koyfman

Investments Staff Accountant

301-445-2706 ______________________________


  Linda Ringer

Client Relations Specialist

301-445-2717 ______________________________


Randy Possehl

Grants Coordinator and Staff Accountant Contracts

301-445-2710 ______________________________ 


Roy Hossler

Senior Executive Accountant

301-445-1949 ______________________________


Virginia (Ginger) Whelley

Assistant Comptroller

301-445-2726 ______________________________


Pam Purcell

Vice President of Finance and CFO, General Counsel 


December 19, 2012
Important Dates


 12/17: Last check run for 2012.


12/20: Last day to request outgoing ACH or EFT bank transfers for 2012 (due by noon).


12/24/12-1/1/13: The University System of Maryland Foundation will be closed for Winter Break. Before the break, we will post instructions for processing stock gifts on our website while our offices are closed. If you have any questions or issues during the break, please e-mail Bill Wojcik.


12/31: Limited staff will be available in the Business Services Office.


1/7: First check run for calendar year 2013.


1/9: Items to be processed by the University System of Maryland Foundation for 2012 end of year giving must be received by this date. Please remember to include envelopes with gifts to support receipt prior to 12/31/12.

What's New!


There are several things we would like to bring your attention to this month: 


1. New Administrator and Dashboard training took place on December 5th, here at the Foundation office. We focused on policy and procedures for the unit administrator in the morning, and on Dashboard in the afternoon. Our turnout was good and comments were favorable. Depending on demand, we intend to schedule training sessions in February, April, October, and December for at least 10 people. If you are interested in attending or scheduling a session, please send us an e-mail. Please keep an eye out for upcoming dates in later editions of the Monthly Ledger. 


2. The website redesign committee has interviewed several firms and plans to make a decision prior to Winter Break. We will continue to share information about this project and may have opportunities for you to get involved in the new year. 


3. We have added a new "Check Acceptance Guidelines" document to our Business Forms section of the website. The document summarizes acceptable forms of checks the Foundation can process for deposit. 


4. The USM Foundation has started the process of rewriting our strategic plan. Our current plan is over five years old, and now that the current capital campaign is winding down, it is an ideal time for revising. Staff and board members have been tasked with this charge, and meetings will begin in the new year. Our intention is to have the new strategic plan in place by the end of the fiscal year. 


5. Remote Dashboard users may have noticed that the log-in window for our financial software recently changed. Our IT staff installed a software upgrade several weeks ago, which integrated new internal features as well that should be of no impact to remote users. We are looking forward to the next upgrade, anticipated for late Spring, when a web-based reporting feature is slated to become available. 


6. Representatives from all the USM affiliated foundations met recently to discuss ways to work collaboratively in the future. We will continue to host quarterly meetings and will prioritize areas of mutual concern and interest during these meetings. We hope to be able to work together to move toward more consistent policies, procedures, forms, and data access to make it easier for our users to navigate through the various entities. 


7. Surveys regarding unspent Spendable Income for FY2012 have been e-mailed. If you received a survey, we would appreciate a response by January 4th. Our hope is to identify why available funds are not spent and then develop solutions to make it easier for you to use the money as intended by your donors. 

Have You Ever Wondered...
Why making a gift of stock is such a great deal for a donor?

Suppose a donor wants to make a gift of approximately $5,000. The donor happens to have ten shares of Apple stock that they bought many years ago for $50 per share. With Apple stock now trading at just over $500 per share, the donor could sell those ten Apple shares and write a check for $5,000. 


The donor would then receive the charitable deduction for the gift, but would also have to pay capital gains tax on the difference between the current value of the stock and the original purchase price. The donor's tax bill might be close to $700 as a result. However, if the donor doesn't sell the stock and simply transfers it to us instead, the donor would get the charitable deduction and avoid the capital gains tax.


Many people use stock gifts as a tax strategy at year-end with the result being that stock gifts increase dramatically in December.


If you have donors that are interested in giving a stock gift, please direct them to our Stock Giving page on our website. There is a form for them to submit, at which point we can contact them with further information. During the winter break, we will add specific transfer instructions and contact information to this page.