8.12.3 Reporting Gifts

Last Revised Date
Friday, October 2, 2020 - 8:16 am

Monetary Gifts

  1. All gifts to the University and Foundation in cash and cash equivalents (including gift cards), checks, securities, insurance policies, letters, and legal documents must be reported to the Central Gifts Office via either the Gift Transmittal Form for Gifts to the University or the Gift Transmittal Form for Gifts to the Foundation.
    1. Gifts of $1,000 or more are subject to 8.33 University Development Fund Policy and Procedure.
    2. A batch report form is generated from the Foundation's Gift Database, all documentation pertaining to the gift is attached to this form, and the entire packet is delivered to the Central Gifts Office, 1111 N Cherry Ave (University Gifts) or Financial Services Room 403 1111 N Cherry (Foundation). The packet should include:  
      1. A written offer of gift from the donor stating any restrictions, and
      2. The donor's address and phone number.
    3. Checks, cash, or documents containing credit card information should never be sent through campus mail.
  2. Checks should be delivered to the Central Gifts Office whenever possible on the day received by the department's development officer or other department employee, as appropriate.
    1. If a check is made out to the University, photocopy the front and stamp the back of the check with a restrictive endorsement stamp for deposit only to: The University of Arizona.
    2. If a check is made out to the Foundation, deliver the check with the completed Gift Transmittal Form to the Foundation Financial Services Office.
    3. If the gift account is not known, contact the Central Gifts Office to obtain a gift clearing account number.
  3. If the gift is cash, complete the Gift Transmittal Form and deposit the cash immediately in the Bursar's Office. The department is responsible for securing the cash deposit overnight. The Central Gifts Office cannot accept cash.

Gifts of Stocks or Bonds to the University

  1. Before preparing the Gift Transmittal Form the department should do the following:
    1. If the department receives security certificates directly from the donor, hand deliver the certificates to the Central Gifts Office immediately. The Central Gifts Office will hand deliver the certificates to the Investment Office for verification.
    2. If the department receives an inquiry from a donor about gifts of stocks or bonds, request that the donor have his or her broker contact the Investment Office at Financial Services via email at investments@fso.arizona.edu to expedite the transfer of the stocks or bonds.
    3. The Investment Office will immediately provide the donor's broker with instructions on how to transfer the shares to the Arizona Board of Regents on behalf of the University of Arizona's trust or custodial account.
    4. The Investment Office will notify the bank to expect and accept the gifted shares as a free delivery.
    5. Upon verification that the gifted shares were received in the account, a copy of the verification will be forwarded by the Investment Office to the Central Gifts Office and then to the department.
    6. Once verification has been received, the department will prepare a Gift Transmittal Form, attach documentation as referenced, and forward to the Central Gifts Office.

Gifts of Stocks or Bonds to the Foundation

  1. If the department receives security certificates directly from the donor, contact the Foundation Financial Services Office for stock power execution instructions, follow the applicable steps below, and hand deliver the certificates to that office.
  2. If the department receives an inquiry from a donor about gifts of stocks or bonds other than in certificate form:
    1. obtain the donor's broker contact information,
    2. a description of the assets to be transferred,
    3. written confirmation from the donor regarding precisely how the gift is to be directed,
    4. contact the Foundation Financial Services Office with the above information along with the donor's Foundation Gift Database constituent ID number, the Foundation fund account number into which the proceeds are to be deposited, and as to whether the gift is in fulfillment of a pledge or the gift commitment is anonymous.
  3. The Foundation Financial Services Department will accept the gifted assets and process the Foundation's Gift Database entry as well as the related tax receipt.

Non-Monetary Gifts

  1. See Section 8.12.5, item 10.