Use of Philanthropic Funds
BYU-Idaho is greatly blessed by contributors from many generous organizations and individuals. We must use these funds wisely and effectively. In the end, the goal of the donors and the University is to bless the lives of students.
The current system for managing gifted funds serves to better:
- Comply with donor intent
- Manage resources effectively
- Ensure the use of donor funds is in line with approved University priorities
Donor contributions are coordinated and received through LDS Philanthropies. The funds are processed and tracked by BYU-Idaho Financial Services and are generally categorized for:
- Student financial aid
- Other approved priorities
The BYU-Idaho Gift Management Committee is comprised of the President's Executive Group and other representatives of academic and financial administration. The Gift Management Committee reviews philanthropic results and projections. The Committee also gives final review and approval for all philanthropic policies and budgets.
Donations intended to be used for student financial aid are administered by the BYU-Idaho Financial Aid Office. University departments may coordinate with the Financial Aid Office regarding awards to specific recipients. However, the final authority and decision-making for scholarship and grant awards rests with the Financial Aid Office. Philanthropic student financial aid budgets are set annually by the Gift Management Committee and Budget Strategy Committee.
Management of non-student aid donations is integrated into the stewardship review process. If an approved priority is funded from philanthropic sources, the amount will be budgeted as part of the annual budgeting process.
Beginning in 2012, philanthropic budgets are combined with other approved budgets (appropriated or auxiliary) in department operating accounts. Financial accounting and budget reports may be viewed on-line through the Account Stewardship page on the Financial Services website.
Philanthropic budgets will be reviewed annually as part of the stewardship review process to ensure that resources are achieving institutional goals and priorities.
Generally, philanthropic budgets are established as continuing budgets and will be renewed annually with guideline increases for inflation. However, the amount of donor funds available is subject to external factors such as additional contributions by donors and investment market conditions. Because of this, philanthropic budgets may fluctuate from year to year.
If you have questions regarding the use of gifted funds, please contact Shane Webster in Financial Services at 9208)496-1971 or firstname.lastname@example.org.