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.