The Monthly Ledger
A publication by the USM Foundation's Business Office
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If you ever have an issue, a problem, or a question, please visit our support page
We can certainly be reached at our email account at, but the new form will help us process your questions, concerns, and issues more efficiently. 
Important Dates

11/19: Payroll Deduction Cards Due

Payroll deduction cards are due to central payroll in Annapolis before the Thanksgiving holiday to ensure setup of the new amounts for the new calendar year. We request that you please submit your payroll dedication cards to us no later than Wednesday, November 19th.

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On the Horizon

Blackbaud, the provider of our Financial Edge accounting software, has recently announced the next generation of their software. It is currently called Financial Edge NXT, and will be a cloud-based, web-based product. There will be some new web-based reporting functionality that we hope will eliminate the need to send out monthly reports and which should also be an improvement on the access you have to your accounts through our current Dashboard. It will probably be the end of 2015 before all the functionality we need is available in this new version but we are excited about what we have seen so far and look forward to sharing more details over the coming months. 

October 27, 2014
What's New!


Christmas decorations are beginning to pop up around the local stores - a sure sign that the holiday gift giving season is just around the corner. What better time than now to provide a refresher on the USM Foundation gift giving policies and procedures?


USM Foundation Gift Giving Policies and Procedures


Although we generally discourage gifts and awards for employees (both Foundation and campus employees) we understand that special circumstances warrant an occasional gesture of appreciation or recognition. The USM Foundation policy generally follows IRS guidelines in determining what is and is not allowed in this area.


There are three basic principles of this policy:

  1. Gifts must be non-cash gifts. Cash or cash equivalent gifts (gift cards) are not allowed as these types of gifts are required to be reported on W-2's regardless of amount.
  2. Gifts must be de minimis. By IRS regulation a de minimis gift is one which is infrequent and of small value.
  3. Gifts tied to a personal achievement such as birthday, wedding, wedding anniversary, or birth of a child are not allowed.  

Expanding on the above principles, here are some specific details to keep in mind:

  • Although the IRS regulations do not provide a specific dollar value for a de minimis gift, the USM Foundation policy has set this amount at $75 or less.
  • Flowers, fruit baskets, etc., given as an expression of sympathy or concern related to the hospitalization of, or memorial for, an employee or direct relation (not including in-laws) are covered by this policy.
  • The $75 limit is inclusive of any delivery costs and taxes.
  • Memorial contributions to charitable entities in lieu of flowers are acceptable and covered by the policy.
  • Gifts to non-employees such as a business partner, board member, or other key outside contributor are not governed by this gift policy. This gift policy pertains to gifts made to employees only.
  • De minimis, non-cash gifts to employees, which may include t-shirts, mugs, hats, tickets for entertainment events, holiday gifts, flowers, fruit, books, gift baskets, etc., must be in recognition of a specific business achievement or to fulfill a specific business objective such as improving staff morale.
  • You can spend above $75 but will only be reimbursed up to $75. And remember, the amount still must be de minimis. So if you spend $82 we would reimburse you for $75. However, if you spent $182 it would not be considered de minimis and we wouldn't be able to reimburse any amount. (although the IRS doesn't have a specific value it has ruled in previous cases that items with a value exceeding $100 could not be considered de minimis.)
  • Gift cards cannot be given as gifts to employees as these are considered cash equivalents and all cash awards must be accounted for on an employee's W-2.
  • Gift cards can be given to non-employees (including students) as a recognition or thanks for participating in or assisting with a particular program voluntarily but cannot be given in lieu of compensation.
  • Cash awards, bonuses, or gifts are reimbursable but all such payments must be included on an employee's W-2 and must therefore go through your campus payroll office for processing. You can then request reimbursement of this payroll charge from the appropriate USM Foundation account. 

If there are any questions about whether or not an employee gift will be reimbursable it is best to ask in advance. Please send any questions to our support email .