What are the Different Foundation Fund Types?

If you think of the UGA Foundation as a bank, then funds are the bank accounts. Each school/college/unit at UGA has Foundation funds. Some units may have more funds than others. The money in these funds are composed primarily of donated gifts. Funds also house money from investments, UGA transfers, and event registrations. 

Endowed Funds

  • Endowed fund numbers begin with 7. (ex. 7109800, 7450000)
  • They are the most common fund type.
  • Gifts deposited into endowed funds are invested to gain greater revenue. This means gifts cannot be used right away.
  • At the beginning of each fiscal year, a spending budget is assigned to the fund allowing you to only spend a portion of the actual money in the fund. 
  • If all the money given in the spending budget is not spent by the end of the fiscal year, it will roll over into the next fiscal year spending budget.

Non-Endowed Funds

  • Non-endowed fund numbers begin with 8 or 9. (ex. 8109800, 9450000)
  • They operate similarly to a bank checking account.
  • Gifts deposited into non-endowed funds can immediately be spent. 
  • At the end of the fiscal year, 

Unrestricted Funds

  • Fund begins with the number 1 or 2
  • Least common fund type
  • Assigned an annual allocation
  • Funds must be used by the end of the fiscal year