Investment Funds, Financial Reporting & Endowment Office

The Foundation Accounting Office of the Foundation for North Carolina A&T State University, Inc. oversees investment funds, financial reporting, and endowments. It manages current funds, endowment giving, and other fundraising programs to ensure prudent investment and disbursement of assets. Operating within a policy designed to enhance the Foundation’s resources, the office also supports the Vice Chancellor and Associate Vice Chancellor for Business and Finance.

1. Tax Collection: The Foundation collects taxes as part of its operations, whereas the university does not.
2. Financial Reporting: The Foundation’s financial reporting focuses on its unique fundraising, endowments, and grant activities, while the university reports on academic and operational finances. Foundation Activity Reports emphasize the qualitative aspects of the Foundation’s work and its impact.
3. Regulatory Compliance: The Foundation adheres to nonprofit-specific regulations, while the university follows state and higher education financial guidelines.
4. Purpose: The Foundation manages private funds, donations, and investment activities to support university initiatives, while the university's finances are primarily government-funded and tuition-based.
5. Operational Focus: The Foundation operates with autonomy in managing endowments and donor relations, distinct from the university's centralized administration of academic and institutional budgets.
6. Investment Funds: Investment Fund Schedules are reconciled monthly. This procedure is part of the process of preparing the endowment reconciliation. The purpose of the reconciliation is to ensure that the endowment balances are accurately reflected in Banner and Fundriver. Fundriver is a web-based endowment management tool utilized by North Carolina A&T State University to keep track of endowment balances.
7. Foundation Activity Reports:
   o Audience: Donors, supporters, grant recipients, and the general public who are interested in the Foundation’s mission and activities.
8. Government/University Financial Statements:
   o Audience: Government regulators, auditors, bondholders, investors, and other stakeholders interested in the financial health and performance of the organization.