The Monthly Ledger
A publication by the USM Foundation's Business Office
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Important Dates
  Calendar 

10/30: New Administrator Training, 9am-12pm. For more details and to register, please click here.

 

Dashboard Training, 1:30pm-4pm. For more details and to register, please click here.

 

Training for both will be held in the Chancellor's Conference Room of the Elkins Building.

 

11/25: Last check run for November

11/26: Last day to process ACH or Wire transfers for November. Requests are due by noon.

12/4: Payroll Deduction cards must be received by USM Foundation to ensure delivery to Central Payroll and to meet deadline for deductions to start promptly in 2014. If you have specific questions, please contact Bernadette Mannone.
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October 21, 2013
What's New!

 

Dashboard

 

In the coming weeks we will be adding a new feature to Dashboard - an encumbrance column. We will begin tracking encumbered funds you have committed for contracts, events, purchase orders, etc. and reporting these encumbered amounts on the Dashboard. The encumbrance will be released through the A/P process once the payment is made.

 

Strategic Plan

 

The second goal of our new strategic plan is to "Position the USM Foundation as a recognized leader in building USM's culture of philanthropy by securing an additional $10 million in resources to enhance USM advancement programs and ensuring an additional $200 million in new endowment funds over the next five years."

 

The strategies to support this goal are:

  1. To structure system resources to provide new income streams in support of advancement operations on system campuses.
  2. To identify incentives and accountability measures to encourage a strong focus on endowment building at the campus level.
  3. To educate institutional leadership and donors about the benefits of endowment.
  4. To draft and implement policy changes to assure top staff recruitment and retention.
  5. To complement the growth of the endowment with an investment program that preserves intergenerational equity while generating returns to support institutional priorities.

We will measure our success in these areas by:

  1. Meeting measurable targets for annual increases in funds raised for the endowment.
  2. Growing the endowment through investment returns.
  3. Expanding the donor base.
  4. Establishing additional revenue streams for additional investment in fundraising.
  5. Garnering commitments from campus presidents to provide matching funds for additional investments in fundraising.
  6. Attaining a higher retention rate for top fundraisers.
Reminders
 

Non-Resident Alien Payments Policy - Please become familiar with the policy for payments to non-residents. All payees must have either a Social Security Number (SSN) or an Individual Tax Identification Number (ITIN). In recent weeks we have had a number of disbursement requests without the necessary pieces of information required for payment. 

 

In-Bound Bank Transfer Notification Form - Please complete this new form and forward it to us prior to transferring funds to the Foundation. We must receive this form prior to a transfer so that we can alert our bank of incoming funds. Failure to provide this form could result in your funds being returned.  

 

If you have any questions, please contact us.