Purpose of the Account:
The PSU Foundation maintains accounts that contribute to the mission of Portland State University. These accounts support many programs including scholarships, departmental functions, student activities and events, and other significant endeavors undertaken by the University.

Establishing an Account:
In order to establish a Foundation account, obtain an Account Agreement Form from the Foundation office. An endowed account will also require an Endowment Agreement Form. Complete the form(s), being sure to obtain the approval of the Department Chair and Dean, then return the form(s) to the Foundation. If you are uncertain whether the account will be endowed, contact the Foundation for more information about account types.

Because of the cost of maintaining Foundation accounts, we request that you refrain from opening a new account without a minimum initial deposit of $500.

Endowment Accounts:
Endowment accounts are created by donors who require that the principal (donation amount) never be used, but that the earnings generated by that principal be used to pay for general support, scholarships, annual awards, etc. An endowed account requires an Endowment Agreement that is an agreement between the donor and the PSU Foundation. The Agreement states the donor's intended restrictions and the purpose of the fund. The minimum amount recommended to establish and name an endowment is $20,000, although larger amounts are encouraged. Please contact Becky Hein, x5-5881, for more information about how to establish an Endowment Account.

Authorized signers:
When an account is established you must designate the authorized signers and submit a sample of their signature(s). A rubber stamp is not an acceptable substitute for an original signature on either the signature card or on check requests. If a check request is submitted with a signature other than the person(s) authorized, the check request will be returned. The Department chair or Dean's signature is required for expenditures of more than $500 or $5000, respectively. They can also sign when other authorized signers are unavailable. A person may not sign his or her own expense request. (i.e., Chris Doe may not sign Chris Doe's expense reimbursement request.)