Foundation
Allowable purchases on ASU Foundation accounts
Unless expenses incurred are philanthropic/cultivation in nature, or an exception to ASU policy, the spending needs to occur on the university side (through ASU Workday). This gets audited and will be rejected if not submitted through appropriate finance channels. (See policy reference FIN 401-04)
There are three categories for purchases:
- Program – processed through ASU
- Management – processed directly to ASU Foundation account
- Fund Raising – processed directly to ASU Foundation account
Foundation Credit Cards
The College policy does not approve individuals in units to have ASU Foundation credit cards. Foundation credit cards are very limited and approved only for units with a record of significant donor cultivation activities. Generally, that level of spending is specifically written into the donor agreement. We are not approving them for units to process transactions that are routine business. There are processes in place for these routine transactions.
Access to Foundation Workday
To access Foundation Workday, you'll need to use your ASUrite login credentials, which follow the format asurite@asu.edu. You can access Workday through the website https://workday.asuep.org/.
For any new access or changes needed, please fill out the Workday Gift Access Request form. This form has a robust approval process and built-in security measures. If you have any questions, don't hesitate to contact workday@asuep.org.
Here's how to request access to Workday:
- Fill out the Workday Gift Access Request Form with your ASUrite ID, Full Name, email address, and specify that you're requesting the Gift Financial Analyst Role for HR unit BXXXX. Additionally, provide a detailed description of the access needs for Gifts/Hierarchies.
- The Gift Financial Analyst Role allows viewing accounts and entering transactions. This role is the only one approved at the School level.
- Security change requests can't be processed until the employee is in the system. If this is for a new employee, they need to fill out the Database User Agreement Form.
- The foundation's business process doesn't allow for a separation between Gift Approver (level 1) and Gift Manager (level 2) approval. Therefore, all former level 1 approvers now have Gift Financial Analyst access. If you require an internal approval process, it can be done via email or another method within your unit.
Approval steps:
- The Financial Analyst enters the transaction and internal unit approvals are obtained at this stage.
- ASU EP reviews and either approves or returns for correction.
- The request then goes to the Gift Manager for review and approval.
- Finally, it's routed to ASU EP for processing and payment.
If a document comes to the Dean’s Office for approval, it will be assumed that it has already been reviewed and approved at the unit level.
ASU Foundation Accounts
The ASU Foundation is a separate entity from Arizona State University. The Foundation is a private, nonprofit organization that raises and invests private contributions for the University. The Foundation manages individual donations and major gifts. Funds raised by the Foundation can be used by the respective ASU units for projects and activities in accordance with donor intent.
Every Foundation account number is made up G and five digits (GXXXXX). Gift Classifications are: pooled spendable, undetermined, non-pooled, and investment. The Gift Fund Options are:
FD200 Pooled Quasi-endowments-Temporarily Restricted
FD240 Pooled ASU Quasi-Endowments-Temporarily Restricted
FD300 Spendable Gifts-Temporarily Restricted - Spendable Funds
FD320 ASUF Endowment Payout/Spending - Spendable Funds
FD340 ASU Endowment Payout/Spending - Spendable Funds
FD400 Pooled ASUF Endowments-Permanently Restricted
FD401 Endowment Pool Earnings/Reinvestment-Temporarily Restricted
FD440 ASU Pooled Endowments-Permanently Restricted
FD441 ASU Endowment Pool Earnings/Reinvestment-Temporarily Restricted
FD500 Non-Pooled Endowments-Permanently Restricted
All gifts subject to a 5% fee
Restricted Accounts
A restricted accounts is a type of local account that is restricted for a specified purpose, usually indicated in the documentation or agreement used when the account is first created.
The College Foundation/Workday Training Guide
Scholarship posting in PeopleSoft
The timelines have changed slightly for the 2024-2025 Academic Year. Please note these changes and try to adhere as closely as possible. If you will not be able to meet these deadlines, let Rebecca Magana at Rebecca.Magana@asu.edu know as soon as possible. As best practice, we highly recommend using a scholarship tracking spreadsheet (template attached) to identify what funding is available, what has been promised to the students, and what you request. It can be modified to best suit your unit.
2024-2025 Academic Year
- Late February-mid March – Check foundation endowment account payouts, current available balance in endowed and non-endowed accounts used for scholarships, and ASU Workday item type balance report.
- April 1 – Deadline for scholarship selection
- April 10 - Student award notifications, terms of agreement, thank you letters, etc.
- April 26 – Deadline for Spring 2024 award posting and funding transfer requests
- April 30 – Deadline to send student award notifications, receive signed terms of agreement, donor thank you letters, etc.
- May 6 – Date you can begin submitting Summer 2024/Fall 2024/Spring 2025 non-endowed account only funding transfer requests.
- May 20 – Date you can begin submitting Fall 2024/Spring 2025 endowed account transfer requests. We have been asked by ASUF not to submit endowed payout funded requests prior to this. **Hold for FY25 Payout in comments and in the Supplier Invoice Number reference FY25 Payout**
- May 31 – Deadline to post Fall 2024/Spring 2025 awards in peoplesoft and submit funding transfer requests.
- June 3 – Deadline to post Summer 2024 awards in peoplesoft and submit funding transfer requests
- Mid-July – Endowment payouts process and funds transfer to item types
- Early August – Scholarship disbursement per Student Financial Aid timelines
- Mid-late August – Check scholarship detail reports and correct errors
Please have your Fall 2024 and Spring 2025 awards posted in PeopleSoft by Friday, May 31 to allow time for the College level review and approval.
Spring 2024 and Summer 2024 awards should be posted as soon as possible. Spring 2024 awards must be posted in PeopleSoft and funding transfers requested no later than Friday, April 26, prior to the end of the semester. Summer 2024 awards must be posted in PeopleSoft and funding transfers requested no later than Monday, June 3.
As a reminder, students cannot receive scholarship awards if they are not enrolled in AT LEAST ONE credit during the award term. This is regardless of the enrollment required by the scholarship and/or any exceptional disbursement requests.
*There is a user-friendly Canvas course available that provides an overview of the three main processes associated with using the scholarship portal and DSP (creating a portal scholarship, pulling data from scholarship applications to select recipients, and posting new scholarships). The course is designed specifically for scholarship administrators and serves as a training guide and a quick reference resource during the scholarship cycle.
The Scholarship Administrator Training course includes all the major content areas. To enroll in the course, please follow this link https://canvas.asu.edu/enroll/H7KFNJ.
Thank you for your hard work in assisting students in their educational journey.