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- The Central Gifts Office will review the Gift Transmittal Form and the accompanying documentation for:
- Completeness of forms and documentation,
- Appropriate classification of the gift,
- Appropriateness of account number receiving the gift, and
- Compliance with the Gift Policy.
- If, after reviewing the gift and supporting documentation provided, the Central Gifts Office determines that the funds do not meet the requirements of the Gift Policy, the Central Gifts Office will:
- Deposit the funds into a clearing account and forward all supporting documentation to Financial Services or Sponsored Projects Services, as appropriate, for resolution.
- Inform the originating department and the department's development officer, if any, of how the funds will be handled.
- Distribute the funds in accordance with University policy.
- Fund Accountants will review the gift batch and the documentation received from the Central Gifts Office and will:
- Assist with the creation of a new account(s) if necessary and notify the Central Gifts Office of the new account number.
- Inquire with the Central Gifts Office or the department with any questions pertaining to the gift information or documentation.
- When the gift is accepted, it must be acknowledged and receipted by the Central Gifts Office.
- The Central Gifts Office is the only office that can send the official tax receipt.
- When applicable, the Central Gifts Office prepares and signs the IRS 8283 form for the donor.
- The benefiting unit should also acknowledge the gift with a thank you letter to the donor.
- The Central Gifts Office forwards a copy of the gift packet to the appropriate offices
- The official receipt date will normally reflect the date of processing. Establishing the official date of the gift is the responsibility of the donor per IRS regulations (i.e. calendar year-end).