Foundation Policies & Procedures

General Information

Operating policies and procedures are developed by UNT Foundation staff and approved by the UNT Foundation Board of Directors. The policies and procedures are regularly reviewed in coordination with University Division of Advancement staff to ensure their adequacy, efficiency, and effectiveness.

Account Management

This New Endowed Account in the University of North Texas Foundation ...

Is a permanent endowment fund ...
  • An independent fund that will exist in perpetuity
  • Which will always support the programs designated by the donor
Will be professionally managed ...
  • By the full-time professional staff of the Foundation
  • In compliance with generally accepted accounting principles, Financial Accounting Standards Board guidelines, and appropriate United States and State of Texas Laws and regulatory policies
  • In accord with written Foundation policies and procedures adopted by the Board of Directors of the Foundation
Has a Memorandum of Understanding ...
  • The guiding document signed by the donor, the President of the University, and the Chairman of the Board of the Foundation
  • That specifies all program intentions and instructions from the donor
  • That commits the University and the Foundation to manage and utilize the fund in the manner described in perpetuity
  • That may not be changed without the written permission of the donor and the other institutional representatives
  • A copy of which is given to you to be maintained with your permanent records
Will be accounted for independently of any other account ...
  • Utilizing the Foundation's state-of-the-art fund-accounting and database management systems
  • With all transactions for this account kept separate from those of any other account
  • Monitored annually through an external audit performed by a public CPA firm
Will have a designated Account Holder ...
  • The University faculty or staff person that receives the quarterly statements and requests funds from the Foundation based on this report
  • Who uses the Disbursement Authorization form to request funds to be moved from the Foundation account to the appropriate University account(s) (if automatic distributions are not selected)
  • Who is responsible for applying distributions from the account to the programs to be supported, as specified in the Memorandum of Understanding
  • Who maintains all of the program information (scholarship recipients, research activities, faculty support, etc.) and communicates this to the donor appropriately
Will be added to a pool of funds invested in a balanced portfolio ...
  • Consisting of a diversified array of actively managed securities
  • Under the supervision of the members of the Investment Committee of the Board
  • That will have short-term market fluctuations in value, yet will retain the long-term goal of returning a stable flow of income annually
Will have quarterly activity statements ...
  • That are available at the secure UNT website
  • That reflect the monthly income, gifts, transfers, and any distributions that have affected the account during the past calendar quarter
  • Which will show the monthly management fee
Will have quarterly distributions ...
  • That are made in accord with the Texas Uniform Prudent Management of Institutional Funds Act
  • That are made available to the Account Holder for the program's designated purpose
  • That are calculated on a percentage of the average total market value of the fund over the trailing twelve-quarter time period
  • That are based on an endowment management model developed by the American Institute of Certified Public Accountants

All information for this account is available to the Account Holder, Proxy, Information Proxy, and head of the academic division, from the UNT Foundation office.

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Obtaining Funds from Account

Distributions from select endowment accounts (scholarships, fellowships, as well as some lectureships, professorships, and chairs) are automatically made quarterly after the last calendar day of February, May, August, and November.

Account Holders may direct that no automatic distributions occur and that all distributions shall be initiated by the Account Holder’s use of individual Disbursement Authorization forms.

Named Account Holders and their Account Proxies on file with the Foundation are the only individuals authorized to request distributions from Foundation accounts. Withdrawals of distribution amounts are available (1) after the minimum endowment level has been achieved through gifts and permanently reinvested amounts, and (2) after having reached the minimum endowment level for one (1) full calendar quarter, and (3) in accord with the Memorandum of Understanding for the account.

Funds from Operating, Quasi-endowed, and those accounts where the Account Holder has directed that no automatic distributions occur, should utilize the Disbursement Authorization form supplied by the Foundation (also found below). The blank form may be reproduced by the Account Holder as needed. An original signature of the Account Holder is required on this form for each individual request; email submissions of this form are not accepted.

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Disbursement Authorization Form

Foundation Account Request Form

Gift Planning & Acceptance

The UNT Foundation works closely with the gift planning specialists in the UNT Division of Advancement to plan, evaluate, accept, and manage charitable trusts, real estate, oil & gas, tangible property, and other assets.

Gift Planning and Acceptance Policies

Visit UNT Advancement Gift Planning Office

Investment Management

Investing

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