Operations Management

Establishment of an Account

The dean of the college or the vice president of the unit should name an account administrator to sign requests for monies and to  coordinate with the Foundation.  The Foundation must be notified in writing when an account administrator is changed.  Accounts are established on the basis of information provided on the Account Information Form.

Processing and Depositing Gifts

When cash, checks, or other assets are sent to the Foundation for deposits, they must be accompanied by a completed Asset Transmittal Form which gives the following information: account title, purpose and name of person to whom acknowledgement should be sent, particularly in the case of corporate checks; copies of any pertinent correspondence and relating to the gift, including acknowledgments; and copies of appraisals for in-kind gifts.  Every gift made to the Foundation is receipted and acknowledged within 48 hours.  Each acknowledgement letter will be maintained in the donor's file.  When a university representative is in contact with a donor in advance of the gift, he/she should insure that the checks are made payable to the Albany State University Foundation, Inc. A copy of any memorandum or correspondence that accompanied the gift must also be sent to Institutional Advancement.

From time to time the university receives checks, intended for the Foundation, that are made payable to Albany State University. All checks intended for the foundation   made payable to Albany State University shall be returned to the sender with a request to have the check written in the proper form.  In the unlikely event that a donor does not wish the check returned, the Foundation will forward the check to the Office of Fiscal Affairs for deposit.  Once the check has cleared the bank, the Office of Fiscal Affairs will submit a check payable to the Foundation for deposit and proper donor credit.

Check Processing

The donor name, amount, check number and date with checks and documentation forwarded to the Foundation's Account Technician will log checks received each day by the Foundation office. Deposit slips will be prepared in triplicate by the Foundation Account Technician.  One copy will be kept for the deposit fund, one copy for attachment to the transmittal sheet/receipts and one copy for the permanent files.

Receipt of Pledges

The Foundation's Account Technician will prepare all pledges received in the same manner as cash receipts.  Original pledge cards will be filed in the donor's file. Pledges will be entered into the system separately from receipts.  Pledge cards, letters of commitment, or other correspondence validating a pledge will be copied by the Foundation's Account Technician and the originals given to the Institutional Advancement for filing into the donor's file.

Accepting Non-Cash (In-Kind Gifts

The Albany State University Foundation, Inc. must approve, in advance, the acceptance of all non-cash (in-kind) gifts.  If such gifts are acceptable, the needs of the university will determine whether the gift is sold or maintained as university property.  The Vice President of Institutional has the responsibility for approving the transfer of ownership, sale or disposal or such properties.  When property is transferred to the university it is subject to all normal restrictions that apply to state property.

Acknowledging and Reporting Donors

Receipts and acknowledgements of appreciation are sent to donors upon receipt of their gifts.  This is necessary to insure that gifts are deposited correctly, and the receipt serves as proof of receipt of the gift.  Follow-up letters are sent to donors to inform them of the progress being made by the use of their gift(s) and to offer additional appreciation.  Liaison between the account administrator and the development officer is particularly important in executing this responsibility.  Copies of any letters of appreciation sent to donors by other university personnel should be routed through the Foundation.