Does your unit ever have the need to return gift revenue to the University of Illinois Foundation (UIF)? Common reasons include:
- Investing or reinvesting the funds into a UIF endowment
- Returning funds which were erroneously distributed to a Banner gift fund
To ensure compliance with donor intent restrictions and proper financial reporting when processing these types of returns, follow the policies and procedures outlined in Section 11.8, Returning Funds to the University of Illinois Foundation within the Business and Financial Policies and Procedures manual.
Contact
For further questions, please reach out to UAFR’s applicable subject matter experts within the Gift Funds section of UAFR’s Who to Ask list.
