There are certain expenses that we cannot pay from USM Foundation funds. Although not all-inclusive, this checklist should provide helpful guidance:
- Personal expenses. If the expense is not incurred for a bona-fide business purpose it cannot be paid. Examples include:
- travel expenses of family member that accompanies you on a business trip
- hotel room movies or other personal entertainment or personal indulgence (spa or health club charges) while traveling
- lunch meeting with a coworker to discuss something that could be discussed in the office
- expenses related to celebrations of coworkers birthdays, weddings, births, graduations, holidays, or other events of a personal nature
- Purchase and/or maintenance of equipment located at home or other off-site location without express approval of the Chair, Dean, or Vice President.
- Political contributions, including the purchase of tickets to attend a fundraiser.
- First class airline tickets for any travel
- Business class airline tickets for domestic travel, but may be purchased for international travel if approved ahead of time
- Payments of fines, tickets, penalties, or finance charges
- Donations to other charitable organizations, unless it is a de minimis amount (under $150) given as an expression of condolence or sympathy.
- Expenditures that may be considered extravagant and therefore might be misconstrued as a misuse of charitable funds. (for example, expenses to travel across the country for an Excel training class when the same class could be attended locally)
- Questionable items (expenditures without sufficient documentation or explanation and which might be misconstrued as a misuse of charitable funds if paid)
Loans and Advances
As a 501(c)(3) organization, the USM Foundation may not make loans or advances, with or without interest, that would be used for the private inurement of any individual.
Loans through the USM Foundation are made only to students and only under bona fide loan programs wherein the funds were donated for that purpose.
NO OTHER LOANS OR ADVANCEMENTS WILL BE MADE.