Gift Acceptance & Crediting Procedures

Table of Contents

  1. WHAT IS A GIFT?
    1.   Intro
      1.a. Charitable Gift
      1.b. Non-Charitable Gift
      1.c. Grant
      1.d. Contract (Sponsored Programs)
      1.e. Pledge
      1.f. Planned Gift
  2. GIFT ACCEPTANCE
    1. 2.a. Utah System Of Higher Education, R530, Acceptance Of Conditional Gift Policy
      2.b. Gift Acceptance Committee
      2.c. Gift Acceptance Committee Members
      2.d. Gift Acceptance Committee Meeting
      2.e. Conditions for Declining a Gift
      2.f. Appraisal and Determination of Fair Market Value
      2.g. Use of Legal Counsel and Tax Advisors
      2.h. Exceptions to this Policy
  3. GIFT PLEDGES (non-campaign)
    1.   Intro
      3.a. Pledge Type
       
      1) Signed Agreement
       
      2) Annual Scholarship
       
      3) Annual Fund Phonathon
      3.b. Pledge Duration
      3.c. Pledge Payment
      3.d. Pledge Reminder
      3.e. Pledge Write Off
  4. GIFT DELIVERY
    1.   Intro
      4.a. Cash or Checks
      4.b. Wire Transfer
      4.c. Credit Cards
      4.d. University Payroll Deductions
      4.e. Electronic Funds Transfer (“EFT”) or Automated Clearing House (“ACH”)
      4.f. Publicly Traded Securities and Mutual Funds
      4.g. Closely Held Stock
      4.h. Cryptocurrency
      4.i. Real Estate or Remainder Interests in Property
      4.j. Gifts-in-Kind
      4.k. Gifts of Service
      4.l. Honoraria and Awards
      4.m. Matching Gifts
      4.n. IRA Qualified Charitable Distribution (Charitable Rollover)
      4.o. Sponsorships of Events/Programs
      4.p. Gifts from a Donor Advised Fund or Community Foundation
      4.q. Mineral, Oil, and Gas, (“MOG”) Interest
      4.r. Auctions, Golf Tournaments, and Raffles
      4.s. Third Party Fundraising
       
      1) Event use of USU Name/Logo
       
      2) Event Marketing and Promotion
       
      3) Event Finances and Tax Guidelines
       
      4) Assistance
      4.t. Intellectual Property
      4.u. Athletics Premium Seating Requirements
      4.v. Savings Bonds
      4.w. Planned or Deferred Gifts
       
      1) Charitable Bequest
       
      2) Beneficiary Designation
       
      3) Life Insurance Policy Gift
       
      4) Charitable Remainder Trust
       
      5) Charitable Lead Trust (“CLT”)
       
      6) Charitable Gift Annuity (“CGA”)
       
      7) Deferred Charitable Gift Annuity (“DCGA”)
       
      8) Retained Life Estate
      4.x. Donate Button from Offsite Fundraising Websites
  5. GIFT FUND TYPES
    1.   Intro
      5.a. Expendable
      5.b. Endowment
      5.c. Quasi Endowment
      5.d. Building Fund
      5.e. Loan Funds
  6. GIFT AGREEMENTS
    1. 6.a. Gift Agreement Templates
       
      1) Gift and Pledge Disclosure
       
      2) Planned Giving Intent Disclosure
       
      3) Endowed Gift Agreement
       
      4) Expendable Gift Agreement
       
      5) Gift Agreement Amendment
       
      6) Donor-Advised Fund – Endowment Memorandum of Intent
       
      7) Memorandum for Multi Donor Endowment
       
      8) Memorandum for Multi Donor Expendable
      6.b. Criteria for Expendable Scholarship - No Agreement
      6.c. Gift Agreement Process Flow Chart
      6.d. Agreement Review Form
      6.e. Use of Office of General Counsel on Gift Agreements
      6.f. Signatures on Gift Agreements
      6.g. Scholarship Selection and Restriction Criteria
       
      1) Scholarship Unallowable Terms
       
      2) Grandfathered Criteria
       
      3) Charitable Class
       
      4) Donor not part of Selection Committee
       
      5) Undocumented Students
      6.h. Amending Gift Agreement
      6.i. Use of an MOU
      6.j. Modifications to Donor Restrictions without Gift Agreement
  7. GIFT SUBSTANTIATION
    1. 7.a. USU Policy 524
      7.b. Determining the Legal Gift Date
      7.c. Determining the Legal Donor
       
      1) Gifts from Individuals and Organizations
       
      2) Gifts From Donor-Advised and Donor-Directed Funds
      7.d. Gift Dates for Booking Purposes
      7.e. Value of Gifts-in-Kind and Securities
       
      1) Gift-in-kind
       
      2) Securities
  8. GIFT REPORTING & COUNTING
    1. 8.a. Daily Receipt Summary Report
      8.b. Weekly Stewardship Reports
      8.c. Cash vs. Progress Report
      8.d. VSE Report
      8.e. USU Board of Trustees Reports
      8.f. USU Foundation Board Reports
      8.g. Campaign Counting for USU Capital Campaign 2003-2012
       
      1) Campaign Reporting Standards
       
      2) Campaign Impact Report
       
      3) Chairs Established
       
      4) Donor Funded Buildings during Campaign
       
      5) Endowments Established
      8.h. Recognition Hard Credit vs. “Soft” Credit
      8.i. Anonymity
      8.j. Non-Governmental Grants and Contracts
  9. OTHER CONSIDERATIONS
    1. 9.a. Quid Pro Quo Gifts/Premiums
      9.b. Privacy
      9.c. The requirement to Report Gifts from Foreign Donors
      9.d. The requirement to Report Cash Gifts over $10,000
      9.e. Anonymity
      9.f. Memorial or Honor Gifts
      9.g. Recognition “Soft” Credit
      9.h. Old Main Credit
      9.i. Foreign Currency
      9.j. When Gifts Are to be Raised From Multiple Donors
      9.k. Gifts From Unknown Donors
      9.l. Record Retention
      9.m. Return of Gifts to Donors at Their Request
       
      1) Refunds given for gifts donated in previous tax year
       
      2) Refunds given for gifts donated in same tax year
      9.n. Gifts From Faculty to Support Their Research
      9.o. Separately Invested Endowment Funds
      9.p. Use of Earnings from Restricted Endowment Funds
      9.q. Conflict of Interest when Advancement Staff Serving as Executor or Successor Trustee of Living Trusts
      9.r. Undesignated Bequests
      9.s. Membership Programs
      9.t. Holding Account
      9.u. Charity Registration for Solicitation
  10. FUNDRAISING ORGANIZATION
    1. 10.a. Major Giving
      10.b. Annual Leadership Giving
      10.c. Annual Fund
       
      1) Aggie Connection Phonathon
       
      2) Class Gift
       
      3) Parent Fund
       
      4) Young Alumni
       
      5) Direct Mail
       
      6) Crowdfunding – AggieFunded
       
      7) Annual Fund Chargebacks
      10.d. Student Organization Fundraising
      10.e. Unit Department Solicitation
      10.f. Other Resources
       
      1) Solicitation Calendar
       
      2) Solicitation Code for Tracking
  11. ADVANCEMENT POLICIES & PROCEDURES
    1. 11.a. USU Cash Handling Policy 530
      11.b. Advancement Cash Handling Policy
      11.c. Extension/4-H Donation Handling
      11.d. Regional Campus Deposit Instructions
      11.e. Gift Receipting Cycle
      11.f. Insubstantial Benefit Limits (Safe Harbor Rules)
      11.g. Gift Transmittal Form
      11.h. Depositing Non-Charitable Donations
      11.i. Endowment Overview
      11.j. USU Investment Policy
      11.k. Endowment Performance
      11.l. Endowment Administrative Fee and Use Of
      11.m. Endowment Spending Policy
      11.n. CMIP Investment
      11.o. CASE Reporting & Management Guidelines
      11.p. FASB
      11.q. Donor Bill of Rights
      11.r. Requesting Banner Index
      11.s. Solicitation Codes
      11.t. Moving Donations to a Different Account