Service Commitments FAQ

The Business Services Department of the USM Foundation is committed to providing the highest level of service possible to our constituents. Unfortunately we do not have an unlimited amount of resources and must manage our responsibilities within that framework. Although we would like to turn your grant proposals around in a day, or set up a new account before the end of the day, or answer a support e-mail within the hour, we just are not able to do this all of the time.

In order for you to plan your workloads and deadlines around our turnaround times we have outlined below our turnaround times and deadlines for various tasks. We are committed to meeting these standards every time and ask that you plan accordingly. All turnaround times assume that all policies and procedures have been followed in preparing your requests and all of the necessary supporting documents and authorization signatures accompany the request. 

How long does it take for my account to get set up? How long does it take to review solicitation/event materials? How long does it take to process gift deposits? How long does it take to process a campus payroll deduction card? How long does it take to process non-gift deposits? How long does it take to review grant proposals or reports? When will I see my investment earnings and fees? When are spendable income calculations performed? When are spendable income carryover calculations done? When can I make an underwater spending request? How long does it take to process my disbursement request? When will my disbursement request check be sent? When will I receive my 1099? When should I submit paperwork for a new hire? When do I need to submit and approve a timecard? When do I need to submit payroll changes? When will I receive my W-2? When will I receive my spendable account activity report? When will I receive my non-spendable account activity reports? When will I receive an audited financial report? When should I expect to receive a response to my general support question?

How long does it take for my account to get set up?

New accounts - two business days

Account updates - one business day

How long does it take to review solicitation/event materials?

One business day

How long does it take to process gift deposits?

Due to the heavy volume of gift activity at the end of the fiscal year and calendar year the timelines below may slip a day or two during the first few weeks of July and January. 

Data entry of new checks - two business days

Closing of gift batches - same day as receipt of batch

Posting gift batches - two business days after batch closes

Generating receipts - two business days after batch closes

Confirmation of stock gift proceeds - three days after receipt of stock at our custodian bank

How long does it take to process a campus payroll deduction card?

There is a fall deadline for these cards to be sent to our office for processing and forwarding to Central Payroll in Annapolis for deductions starting in the next calendar year. This deadline is communicated via our website, newsletter, and email in early fall. All cards received in our office are forwarded to Central Payroll within three business days. Any cards received after the deadline are not guaranteed to be processed by Central Payroll for the first payroll of the new year

How long does it take to process non-gift deposits?

Three business days for deposit, closing, and posting

How long does it take to review grant proposals or reports?

Five days - these often require legal review and/or signatures from authorized foundation management

When will I see my investment earnings and fees?

They are posted to your endowment accounts for each month by the end of the following month

When are spendable income calculations performed?

Spendable income rates for the next fiscal year are set at our February Spendable Income Committee meeting and calculations by account are sent to administrators by March 15th

When are spendable income carryover calculations done?

By August 10th of each year

When can I make an underwater spending request?

Underwater spending requests can be made at any time but must be approved by our Executive Committee, which usually meets in February, May, and October. Requests received by the end of the month prior to the meeting will be reviewed at the next meeting - ie. requests received by January 31st will be reviewed in February.

How long does it take to process my disbursement request?

Contract/Purchase Order signatures - two business days for simple purchase orders or agreements; five business days for a more complicated contract that involves multiple parties, insurance requirements, or which may require legal review

Travel approvals - one business day

Wire and ACH transfers - requests received by noon are processed the same day

When will my disbursement request check be sent?

Disbursement requests received by our office by 1pm on Thursday are processed in the next check run. 

Disbursement requests for grant accounts require extra review and should be received by our office by 1pm on Wednesday for processing in the next check run.

Check runs are every Monday and checks are mailed no later than Tuesday, though deadlines may be changed slightly based on holidays. Any changes will be communicated in advance via our newsletter and website. 

When will I receive my 1099?

They are mailed out by January 31st

When should I submit paperwork for a new hire?

Paperwork for a new hire should be received by our office by the last Friday of a two-week pay period for that hire to be included in the following Friday's payday.

When do I need to submit and approve a timecard?

Timecards must be entered and approved by end of business on the Monday of a pay week, though may be adjusted accordingly to a holiday schedule. Any changes will be communicated in advance via email to employees and supervisors.

When do I need to submit payroll changes?

Payroll change forms must be received by end of business on the Monday of a pay week, though may be adjusted accordingly to a holiday schedule. Any changes will be communicated in advance via email to employees and supervisors.

When will I receive my W-2?

They will be made available online or mailed by January 31st

When will I receive my spendable account activity report?

Spendable account activity reports are distributed by the 15th work day of the following month.

When will I receive my non-spendable account activity reports?

Non-spendable account activity reports are distributed by the last calendar day of the following month (ie. June report will be distributed by July 31st)

When will I receive an audited financial report?

September 15th

When should I expect to receive a response to my general support question?

For most issues, our goal is to respond within one day to your request. If an issue requires additional research and/or discussion, or involves staff currently unavailable, the final response may take longer. If this is the case, you will receive a status email explaining as much within one business day.

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Our vision is to attract broad resources that transform the USM and its institutions, create a network of advocates to embrace the USM’s role as an educator and economic engine, and to grow a long-term, sustainable culture of philanthropy across the University System of Maryland.

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