UA Foundation Accounts
What is the UA Foundation?
The University of Alaska (UA) Foundation "seeks, secures and stewards philanthropic support in partnership with the University of Alaska system to help shape Alaska's future".
The UA Foundation is completely separate from the University system, and they are the only agency that can accept a donation on behalf of the University as an institution. The Foundation is also responsible for managing and investing the revenue associated with endowed accounts, and the interest that is generated and disbursed for those endowments.
how DOES THE UA FOUNDATION COLLECT DONATIONS?
The UA Foundation accepts donations in many forms, including (but not limited to) checks, credit cards and cryptocurrency. Donors who are are interested in supporting CLA programs should be directed to the UA Foundation's Give Now website to identify and process their preferred method of donation.
For donations that are sent directly to UAF departments, please redirect those to the UA Foundation's Fairbanks office:
University of Alaska Foundation
PO Box 755080
Fairbanks, AK 99775
HOW does the UA foundation create accounts?
Money that is donated to the UA Foundation can only be spent in ways that directly support the deposit fund's purpose statement; the account purpose statements can be seen on the UA Foundation reports that are provided periodically by the CLA Fiscal Officer to the Department's Chair and Administrative Assistant.
If funds are donated for any purpose that cannot be easily assigned to an existing account, a new account may be created by the UA Foundation so that it can have its own specific purpose statement; some accounts have a very specific purpose while others may be as general as "department support, so it is important to know the purpose of the fund being accessed.
The UA Foundation additionally provides a classification for each account (also seen on the reports provided to Chairs), which further defines the types of expenses that can be charged against that account; example of those classifications are below:
Endowed Chair
Fellowship
General Support
Prize
Research Award
Scholarship
Stipend
Student Award
Travel Award
how do we access UA foundation funds?
The process for accessing UA Foundation funds is directly related to the fund's classification (see above).
The following fund types allow for expenses to be directly applied to student accounts by sending a request to the Financial Aid Office, submitting a student account payment form, or by using UAF's designated scholarship program, Kaleidoscope:
Prize
Research Award
Scholarship
Student Award
The following fund types allow for expenses to be directly applied to a Foundation Fund Expense Account (FFEA):
Endowed Chair
Fellowship
General Support
Prize
Stipend
Travel Award
This Foundation Funds Flowchart demonstrates how this process works, from the initial donation to making the expenditure.