Establishes policies and procedures for the acceptance
of non-cash gifts to the University.
Scope
Applies to all University departments and activities.
Policy
All non-cash gifts to the University shall be
coordinated with the University Advancement Office prior to receipt. Any
person contacting the University about a non-cash gift should be referred
to the Vice Chancellor of University Advancement. These steps will ensure
that a consistent approach is maintained throughout the University for
receiving gifts. The Associate Vice Chancellor for University Advancement
is responsible for coordinating the transfer of the gift from the donor
to the University and providing proper recognition for the gift. The Vice
Chancellor and the Associate Vice Chancellor for University Advancement
may advise the donor of various avenues available for appraisal of the
gift value. Due to Internal Revenue regulations, University personnel should
not attempt to appraise non-cash gifts.
Departments or activities should not utilize gifts
until the gift has been officially accepted by the University.
To avoid duplication of effort, employees should
not solicit gifts without coordinating their efforts through the Vice Chancellor
of University Advancement.
Effective:
November 1, 1988
Procedure
Supersedes: New
Continual Liability
Acceptance of gifts which will require continual maintenance and expense
by the University must first be approved by the appropriate Vice Chancellor.
The Office of the Vice Chancellor shall forward a memorandum to the Vice
Chancellor of University Advancement, detailing the gift and stating that
the University would like to accept the gift. Acceptance of the gift by
the division will also dictate the responsibility of any liability or maintenance
cost to the division. The Associate Vice Chancellor for University Advancement
is responsible for the transfer of the gift from the donor to the University.
Minimal Liability
Acceptance of gifts which will require no further maintenance or expense
by the University may be approved by the appropriate Dean or Department
Head. Once approval has been given, the Dean's/Department Head's Office
shall forward a memorandum to the Vice Chancellor for University Advancement
as in the preceding section. The Associate Vice Chancellor for University
Advancement arranges the transfer of the gift from the donor to the University.
NOTE: The University Advancement
Office is responsible for arranging the transfer of gifts to the University:
however, the appropriate Vice Chancellor, Dean, or Department Head has
the responsibility of making the decision regarding acceptance.
Master Gift File
The University Advancement Office records the gift on the Master Gift
File. Through the Master Gift File, the Vice Chancellor and Associate Vice
Chancellor of University Advancement maintain contact with all University
donors, periodically providing donors with information relative to University
happenings.
Fixed Assets System
The University Advancement Office has the responsibility of contacting
the Fixed Assets Accountant and Purchasing Department regarding the gifts
to be added to the Fixed Assets System.
