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  • 1.  GLBA and Endowment Reports (Financials)

    Posted 06-08-2023 05:08 PM

    With the stricter regulations of the Gramm-Leach-Bliley Act (GLBA) going into effect tomorrow, how are your institutions handling endowment reporting in respect to these new regulations? Currently, we send out endowment reports with financial reporting to all endowment holders and other persons of interest (family members, legal representatives, etc.). Would sending an endowment report with financials to someone who is not the signatory on the agreement be in violation of GLBA? 

    Thanks,

    Elizabeth Jenkins
    University of Wyoming Foundation



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    Elizabeth Jenkins
    University of Wyoming Foundation
    elizabeth.jenkins@uwyo.edu
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  • 2.  RE: GLBA and Endowment Reports (Financials)

    Posted 06-12-2023 11:43 AM
    Elizabeth, I wish there was a clear-cut answer to your question. There are endowment reports that contain no "customer information" that are fine. There are some that certainly contain "customer information." And then there are some gray areas. However, if you have authorization to send the reports from the donor, you're in the clear. For compliance purposes, you'd want to be able to track/reference those authorizations though.


    Thank you,
    Isaac Shalev
    Data Strategy Expert
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

    Schedule a 30-minute consultation now:




    Original Message


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