Gift Reporting (C-15)
Original Implementation: July 18, 1981
Last Revision: October 18, 2011
The following procedural steps should be used when depositing private funds.
- All gifts payable to the university and its departments should be immediately delivered to the bursar’s office for deposit and must be delivered in a university approved locked bag.
- Information relevant to any gifts received in the form of cash, checks, money orders, or other forms of negotiable instruments will be forwarded to the Office of Development from the bursar’s office for purposes of updating donor records, and official acknowledgment and receipt of gift. The department receiving the gift should complete the "Gift Transmittal" form, attach any original documentation which accompanied the gift, and submit them when depositing the gift at the bursar’s office. The bursar’s office will forward the "Gift Transmittal" form and any original documentation included with gift to the Office of Development for gift processing within 24 hours of the deposit. Furthermore, the bursar’s office will stamp each "Gift Transmittal" form with the date of deposit and initials verifying that the gift has been properly recorded and deposited by the university.
- Deposit of all negotiable instruments must be completed within 24 hours of receipt of the gift and must be accompanied by the "Gift Transmittal" form unless granted an exception.All exceptions are to be reported to and approved by the vice president for development, and the gift deposited within 48 hours of receipt.
- In-kind gifts, contributions other than cash, check or other readily negotiable security, retained in a department, program, activity center, or other university facility, should be reported by completing the "Gift-in-kind Report" form and forwarding it directly to the Office of Development. A comprehensive description of the gift, background information concerning the origin of the gift, value at the time of contribution and any correspondence or wishes of the donor, along with a photograph whenever possible, should be included with the completed form. For those in-kind gifts valued at more than $5,000, a written qualified appraisal must be submitted, which has been signed and dated by a qualified appraiser.
- All gifts, negotiable and in-kind, will be acknowledged officially on behalf of the university by the Office of Development, and may also be acknowledged by the recipient and/or the president. Departments should not generate receipts for gifts unless approved by the Office of Development to avoid duplicate receipts. Gifts received by the university and made payable to the Stephen F. Austin State University Foundation, Inc. should be forwarded to the Office of Development for transfer and deposit to the foundation.
- All eligible matching gift requests will be processed by the Office of Development upon recording the original gift of the donor. If a matching gift proves to be ineligible, the matching gift form will be returned to the department submitting the request.
Cross Reference: None
Responsible for Implementation: Vice President for Development
Contact for Revision: Vice President for Development
Forms: Gift Transmittal form, Gift-in-kind Report form (available in Office of Development)
Board Committee Assignment: Finance and Audit