Foundation Accounting Frequently Asked Questions

Frequently asked questions regarding Minnesota State University, Mankato Foundation accounts.

“M&E” (or “State”) accounts, which start with 21xxxx, are set up by the University to pay for the basic needs of the institution, such as office supplies, research equipment, University Dining Services to cater a University event, etc.

Funding for Foundation accounts comes from donor contributions and investment earnings. There are three different types of Foundation accounts:

  • “Expendable” (or “discretionary”) Foundation accounts, which start with 335xxx, exist to pay for activities and items that directly benefit the institution, such as salaries, wages, stipends, benefits, travel, goods and services, etc. Expendable accounts cannot pay for staff parties, office coffee, or any other activity or item that doesn’t directly benefit the institution in accordance with its mission.
  • “Endowment” accounts, which start with 055xxx or 057xxx, are invested by the Foundation and the interest earnings are used as per donor intent, often for annual scholarship awards.
  • “Quasi-endowment” accounts, which start with 0557xx, are also invested by the Foundation. Both principal and interest earnings are used as per donor intent, often for building projects. Quasi-endowments are more liquid than endowments.

Wherever you start, you’ll be guided through the process.

Project managers must be University staff or faculty. Students cannot be named as managers.

Monthly reports are sent to project managers after all previous month's activity has been processed. If you are not receiving these reports or need a current balance for your account, call the Foundation Accountant at 507-389-5595.

Sample contracts and staff contact information are on the Finance and Administration Contracts web page.

Expendable accounts cannot pay for staff parties, office coffee, or any other activity or item that doesn’t directly benefit the institution in accordance with its mission.

For specific guidelines see Minnesota State Board Procedure 5.20.1, Special Expenses and Chancellor/Presidential Expense Allowances.

Other requests will be considered for approval by the University President. Please contact the Director of Stewardship and Foundation Relations at 507-389-1905 with further questions.

Partner/spouse attendance at events staffed or attended by employees is the responsibility of the employee (even if your partner/spouse also happens to be a University employee). Detailed guidelines are available in PDF Format.

Gifts of cash, including gift certificates, or gifts for birthdays, weddings, non-retirement departures, etc. must be funded by the individuals giving the gifts.

As early as possible, talk through your plans with the Foundation Accountant at 507-389-5595.

If you have questions or need information, contact Advancement Services at 507-389-6832.