Guidelines For Requesting Disbursements From Foundation Accounts
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If you need to submit a check request, please send all .pdf requests to email@example.com and cc: firstname.lastname@example.org. Please attach appropriate back-up and if it is a payment to an individual, a completed W-9 needs to be attached. More information regarding disbursements, see this page, give us a call 541-463-5135 or send us an email email@example.com.
The Foundation does not reimburse or provide any funding for the purchase of gift cards or gift card related fees. The Foundation does not provide cash advances. All check requests must be accompanied by appropriate documentation (described below).
Accessing Fillable Versions of Our Forms: To access the fillable versions of our forms, please click the .pdf of the form you would like to use, choose to download the form using the browser menu buttons, and then choose "Open with Adobe Acrobat" and click OK. You may need to save the document as a .pdf to your desktop and then open the document from your desktop.
How To Set Up A New Account: The Foundation uses a project based accounting system to track all income and expenses. Projects can be set up to meet a specific purpose such as scholarships, equipment or general department needs. To establish a new project you must complete a New Account Form. We encourage departments to use accounts already set up whenever possible. Some accounts are very old and have not been active. In many cases it's possible to modify the account adequately to meet the current needs without establishing a new account.
The Foundation Director approves any new projects before a new account is established. Each account should have at least two authorized signers. The authorized signer is responsible for oversight and ensuring that the funds are being used for the intended purpose. Several departments have "View only" access to the Foundation's accounting system which enables them to run reports and view transactions. If your department does not have this access you will need to contact the Foundation to check your balances before requesting checks. As much as we would like to give all the departments this access, we are limited in the number of users we can authorize.
How To Request Funds From Your Account: The Foundation does not reimburse or provide any funding for the purchase of gift cards or gift card related fees. The Foundation does not provide cash advances. All check requests must be accompanied by appropriate documentation (described below).
To request a disbursement of funds from your Foundation account, complete a Foundation Check Request Form and attach supporting documentation such as receipts, invoices, order confirmations, a written agreement to pay a stipend/honorarium or other things of that nature.
DOCUMENTATION MUST BE ATTACHED.
Check requests must be signed by the person authorized to sign on the account. An authorized signer cannot sign for a check made payable to themself; therefore, we are requiring you designate at least two signers per account. An alternate signer must approve the check request. To change the authorized signers you will need to complete the Account Revisions Form.
Paying College Employees for Work/Services: Lane Community College employees must be compensated through the College's payroll system. The Foundation does not process payroll, nor can we pay stipends to current employees. If you do want to use funds in your Foundation account to pay a college employee for work they've done outside their usual responsibilities, it must go through the regular College payroll process. Simply request a Foundation check to reimburse the College for the additional expense using a Foundation Check Request Form made payable to Lane Community College and indicate the College FOAP you want to reimburse.
It's also possible to use your Foundation funds to reimburse business related purchases made on an employee's P-Card. The check request should be made payable to Lane Community College and must include the College FOAP you want to reimburse. A copy of applicable receipts are sufficient documentation for p-card reimbursement as you will need to submit the original receipt with your green sheet to College Finance.
Other Gifts to Individuals (including College employees and students): Gifts or grants of cash or cash equivalents (i.e., payments other than those for expense reimbursements or payments for goods/services) may only be disbursed directly to individuals from Foundation funds if an appropriate fund is set up in advance through the Foundation, and certain requirements are met. The Foundation does not reimburse or provide any funding for the purchase of gift cards or gift card-related fees. The Foundation does not provide cash advances.
This includes any gift from a Foundation fund directed to or for the benefit of any individual, whether they be a student, employee, family of an employee, or an unrelated individual. The Foundation will not reimburse an employee or a department for payments made to an individual outside of these requirements and other Foundation guidelines. Please contact the Foundation Director at 541-463-5804 for requirements and guidelines on setting up an employee or student assistance/emergency fund.
The Foundation does not make loans for employee or student hardship.
Note that occasional non-cash gifts of a modest value (including flowers or cake or similar tangible items) to recognize a department employee's birthday, bereavement, retirement or other life event are allowable expenses from department discretionary funds, when approved by the department head.
Conflict of Interest/Self-Dealing: Authorized signers on foundation accounts cannot sign a check request for payment to or for the benefit of themselves, any member of their family, or any organization in which they have a financial interest. All such requests must be signed by another authorized signer on the account, or by the authorized signer's supervisor, and must include appropriate expense documentation.
Requesting Transfers Between The Foundation And The College: The Foundation and the College are separate legal entities and have completely separate bank accounts. In order to move funds from the Foundation to the College you must complete a Request to Transfer Funds Form payable to Lane Community College and include the FOAP you want to deposit the check to. The Foundation will then issue a check and take it to Enrollment Services for deposit to the FOAP you specify, or you may request the check be held for pickup if you want to handle it in a different manner. To transfer money from the College to the Foundation you must complete an LCC Check Request Form payable to the Foundation. The LCC Check Request Form must be approved by Greg Holmes or his representative in College Finance. The College will then issue a check to the Foundation for deposit to your Foundation account. Be sure to include your Foundation account number (4-digit Fund/Project number) on the College Finance Forms
Requesting Payment To Individuals And Non-Incorporated Businesses:
Please submit a completed Form W-9 with all check requests for individuals or businesses that are not incorporated so that we can send them an IRS Tax Form-1099 at the end of each year. This does not apply to reimbursement requests. If you are reimbursing a Lane employee or other individual for out of pocket expenses, you do not need a W-9 to process the check as long as we receive adequate documentation.
When Do I Need To Submit Check Requests? Please allow adequate time to process check requests. The Foundation typically prepares checks on Thursdays (Fall, Winter, Spring) or Wednesdays (Summer), but in some situations such as employee vacations or sick leave, checks may be prepared earlier or later. We generally try to have payments ready within one week of receiving a request but in some circumstances it may not be possible. It's unusual for a check request to take longer than two weeks. In that case you should contact the Foundation office to verify the request was received. If you have an urgent request please contact the Foundation Accountant at (541) 463-5810 to alert us of your need. In some cases a manual check can be prepared. Careful planning and requesting checks well in advance of the date needed is recommended.