I need to set up a new gift fund. Do I set up this fund with the Foundation or with The Regents?

The general guidelines are:

• Recommend set up as a Regents gift fund: If the donation is (1) a one time gift and the department expects to spend the entire amount within the current fiscal year, (2) a fellowship with a named Fellow, (3) a gift for a Pooled Income Fund, (4) Real Estate NOT TO BE SOLD, (5) gift-in-kind to be added to departmental inventory and not sold, (6) small memorial/honorarium gifts, we recommend you set the fund up with The Regents directly. A new Regents' gift fund number will be assigned and the funds can be expended for the purpose designated by the donor. Per Office of the President policy, the department will need to complete a Regents' gift/private grant acceptance form (form UDEV-100-6 Form #FO-2035) for each gift received into a Regents' gift fund. Please contact Rhonda Edwards at (858) 534-4491 or rledwards@ucsd.edu in Gift Processing for assistance.
• Recommend set up as a Foundation gift fund: If a department has (1) multiple or regularly recurring gifts (pledges) for the same purpose, (2) gifts of real estate for immediate sale and highly marketable or with special circumstances, (3) art gifts, (4) gifts of stock, (5) Endowed gifts, (6) most gifts for capital projects, (7) annual benefits/solicitations/fundraiser events (gifts with quid pro quo), (8) Planned/Deferred Gifts (Lead Trusts, Life Estates, Gift Annuities & Charitable Remainder Trusts), the fund should be established with the Foundation. A gift acceptance form is not required for gifts to the Foundation. However, gift letters from the donor(s) are required. Please contact Sandra Stewart at (858) 534-4493 or sstewart@ucsd.edu for assistance.
• Gifts of real estate, art or stock - when gifts of this nature are given, there are various appraisals, valuations and other items involved prior to gift acceptance. The Foundation office is local and has expertise in processing gifts of this nature, thereby ensuring that the monies are made available to the department as quickly and efficiently as possible.
• Regardless if the gift is to the Foundation or to The Regents, each gift is key entered by the gift processing staff and a gift receipt and a thank you note is generated for each gift.

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How do I set up a new fund?

To set up a new fund, please go to our forms page. Contact Sandra Stewart in the Gift Processing Office for assistance.

I heard that there is gift fee on all gifts. What is the gift fee for and what does the Foundation do with this money?

Per UCSD Policy and Procedure Manual #410-3, the University assesses a 6% gift fee on ALL gifts processed either through The Regents directly or through the Foundation. These fees are used to fund a portion of the UCSD External Relations budget. The fee is assessed as cash gifts are received in the fund and are immediately transferred out of the Foundation to the University. See here for additional information.
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Use of Foundation Funds ---Okay, now I’ve established a new fund with the Foundation, how do I spend this money?

A new Regents gift transfer IFOPAL will need to be established. Please go to our forms page and select the Request for Funds form. On the Request for Funds form, make sure to give us your organization and program number and the first three letters of your departmental index. On the space for fund number, put in “new” and click on the submit button on the bottom of the page to electronically submit the form to our office for processing. Once we receive the Request for Funds form, we will establish a new Regents index and fund number which will be attached to your department organization number. Foundation gift transfer funds fall into one of the following ranges: 40000A-59999A, 86500A-86999A. We will notify you of the new fund and “master” index number via email approximately 3 working days after we receive your request. Once the new IFOPAL is established, all monies transferred from that Foundation fund in the future will be moved to that IFOPAL. Once a master index is created, department Business Officers can set up sub-indices on the fund as long as the organization and program number are the same.

There are three different “Request for Funds” forms you can choose from:

1. Request for Funds Form – Recurring: This form is good through the end of each fiscal year (a new one must be completed each July) to have all available cash transferred monthly to the Regents transfer fund.
2. Request for Funds Form – Non-Recurring: This form allows you to submit a request for a one-time withdrawal of money from one or multiple Foundation funds. If you’re requesting funds for a chair please use the Endowed Chair Form.
3. Request for Funds Form – Endowed Chair: This form is to be used to submit a request for an endowed chair. As chair funds require approval from the Vice Chancellor or their delegate prior to processing, this form cannot be emailed. Please print this form and submit to the Vice Chancellor or their delegate for their signature and then submit to us as directed below.

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Why do I have to establish a new IFOPAL in the University for Foundation transfers? Why can’t I just transfer the money to an existing University fund?

Fund accounting rules do not permit the commingling of different "types" of monies. Gifts made directly to a Regents' fund are considered to be a different "type" of money from funds that are transferred from a Foundation fund because of the difference in the source. Similarly, in the University, General Funds cannot be commingled with Opportunity Funds. The only way you can use the money held in a Foundation fund is to have a University gift transfer fund established which is "married" to your Foundation fund. Monies other than Foundation transfers cannot be deposited into this fund. However, certain expenses incurred in other Regents' funds can be transferred to the Foundation transfer fund (via NPET or PET). Once you have a transfer fund established, you can use the same processes and forms to expend it as with any other Regents fund, except that it must be spent in accordance with the donor's wishes.

An analogy is to think of the Foundation fund as a "savings" account and the Regents' transfer fund as the "checking" account. The two accounts are linked together and when you need to "write checks" from your checking account (expenditures from the Regents' fund), you will need to transfer funds from your savings account to your checking account.

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The transfer I requested is not showing on my University ledgers, why?

You can contact Foundation Accounting to make sure we have received your Request for Funds Form and have processed it.

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