Revenue can be deposited into a UBF account at any time. Cash receipts include currency, coin, checks, money orders and credit card receipts received from all sources.
In order to make a deposit at UB Foundation (UBF), you must have a UBF account.
Anyone can make a deposit. However, you must have signatory control to process a disbursement.
Deposits can be received via campus mail, U.S. mail or hand delivered to our office. Any cash must be hand delivered to our office for a signed receipt.
The UB Foundation office is open Monday through Friday from 8:00 a.m. to 4:30 p.m. for hand delivered deposits. The office is closed on university holidays.
Certain transactions are considered repayments of expenditures, including reimbursements paid to UB Foundation (UBF) from the original vendor. Examples of reimbursement may include:
Depending on what type of revenue is deposited there are different administrative fees that are assessed on the revenue that is deposited.
|Type||Endowment Principal Gifts||Expendable Gifts|
While no fee is deducted from any gifts to the principal of an endowment, an endowment fee amounting to approximately 1% of the value of each endowment fund is charged each year.
For all charitable trusts that we administer, an annual fee is charged of approximately 0.5% of the beginning-of-the-year market value. For all gift annuities that we administer, a fee totaling less than 0.5% of the beginning-of the-year market value is charged on the annual income allocation. Upon final distribution of trust or annuity assets, standard gift revenue fees are applied. For those charitable trusts that we do not administer, standard gift revenue fees are applied upon receipt of distribution from the trust.
The office of Sponsored Projects Services determines the fee structure for privately funded sponsored programs.
Most non-gift revenues, including activities and service revenues, are subject to the General University Service Fee (GUSF) established by UB.