Advancement Services within the Office of University Advancement exists to ensure donor funds are handled with care to meet the needs of our University. We process monetary gifts, pledges, stock gifts, and gifts-in-kind received from donors and alumni. Upon confirmation of receipt in Columbia, the office prepares acknowledgement letters and gift receipts to mail to donors, and when necessary, creates and includes VIP cards and Alumni cards. If a gift is made in “Memory” or "Honor" of an individual, we will create a letter to mail out to the family or honoree.

The Advancement Services Office maintains the budget for unrestricted funds within the Aiken Partnership and prepares financial reports for the Aiken Partnership Board of Directors. The office is responsible for verifying the quarterly Revenue and Expense reports received from USC Columbia to reconcile all account balances. The Coordinator of Gift Accounting serves as the primary staff member on scholarship database development and disbursement. 

One of the ways we provide service to the campus is in assisting campus offices in utilizing funds designated for their use within the Aiken Partnership. It is our responsibility to process all transactions concerning Aiken Partnership accounts including preparing check requests and deposits, transferring funds, and organizing and batching related documents.

Aiken Partnership Funds

The Aiken Partnership was established in 1980 as an affiliate of the USC Educational Foundation. All funds raised by the Aiken Partnership are handled and invested by the USC Educational Foundation but returned to USC Aiken for the University's use. The general purposes of the Aiken Partnership are to further the institution’s quest for excellence in all areas and to support those programs that are inadequately funded or that are not funded at all through the normal channels of state appropriations.

Accounts established with the Aiken Partnership:

  • Unendowed Accounts

These funds result from contributions through the Aiken Partnership but are not within an endowment. The account number typically has an A in the sequence. 

  • Endowed Accounts

The spendable amount for these endowments is based on the interest gained on the principal of these endowments. Spendable amounts of these endowments vary depending on the amount in the principal, the length of time the endowment has been established, the amount in the reserve account, and the market performance over the life of the endowment. Endowments generally generate a spendable amount of approximately five percent of the principal each year. The account number will usually have a B or C in the sequence. The USC Educational Foundation makes disbursements quarterly to endowment accounts based on earnings. 

 

Questions?

Contact the Coordinator of Gift Accounting 
803-641-3334