To provide guidelines for soliciting, reviewing, accepting, and acknowledging gifts.
|8.13, Endowment and Investment Policies
8.33, University Development Fund Policy
|University of Arizona Development Office|
Development Office - General Guidelines and Policies
There are only two authorized repositories for gifts: the University of Arizona Foundation and the University of Arizona. All gifts to the University of Arizona or the University of Arizona Foundation must be processed through Lynx. For information on training and questions regarding RE, please go to the UA Foundation webpage, Lynx Information and Resources.
- The Development Office was established in July 1978, to administer the University’s fundraising activities and to accept and manage all gifts to the University. The Development Office shall have the authority to approve all fundraising activities undertaken by and on behalf of the University. The University of Arizona Foundation, a private, nonprofit Arizona corporation, contracts annually with the University to manage the Development Office.
- The University of Arizona Foundation, as manager of the Development Office, oversees fundraising programs and activities through its components as follows:
The Alumni Records Office maintains accurate records concerning demographic information about donors and/or former students of the University. This office also maintains historic information about student involvement while attending the University.
The Central Gifts Office provides final validation for compliance with gift policy and IRS regulations. Central Gifts receipts all gifts to the University, it maintains a historical database of all such gifts. The Central Gifts Office is also the primary contact for questions related to gift processing.
- Annual Giving Office: Conducts various annual solicitations, including a telephone outreach program, to benefit the University and its various colleges, departments and administrative units.
- Corporate Relations Office: This office coordinates all gift solicitations to corporations. The Office of Corporate Relations helps to secure and steward support for the University's academic initiatives and institutional priorities. It seeks to establish and manage strategic partnerships with corporations to create mutually beneficial relationships between industry and The University of Arizona.
- Development Officers: Fundraisers, titled Development Officers, are assigned to colleges or other selected administrative units. They collaborate with their respective colleges or administrative units’ faculty members and administrators to cultivate donors, solicit major gifts, and establish networks of private support for future major gifts.
- Development Research Office: conducts research related to development. It maintains a library of philanthropy-related publications and periodicals. It also works to ensure proper assignment of prospects to Development Officers.
- Donor Services Office: Oversees stewardship of donors and coordinates events to avoid unnecessary competition between different units’ fundraising activities.
- Fiduciary Compliance and Gift Transactions: The office of Fiduciary Compliance and Gift Transactions is a part of the Financial Services team. It is responsible for several functions, including the coordination of documentation to insure that donor intent is clearly expressed and followed. Compliance with internal policies as well as federal and state statutes, including the Internal Revenue Code, is monitored. The office works with donors, development officers and the campus community to process a wide range of gift agreements for endowed and restricted gifts, whether funded with cash or noncash assets. Noncash assets include marketable securities, real property, collections and archives, as well as intellectual property.
- UAF Financial Services Office: The UAF Financial Services Office provides accounting, finance, investment and administrative services to The University of Arizona. For information about UAF accounts and policies, go to http://www.uafoundation.org.
- Foundation Relations Office/GIFT Center: This office coordinates solicitations to foundations and provides expertise and guidance in grant writing. It provides access to research, facilitation, training, review and editing services to support and enhance the priority efforts of UA community members to obtain non-governmental grants.
- Information Services: This group provides the foundational information required for effective fundraising and institutional advancement.
- Gift Planning Office: This office maintains relationships with persons who have made gifts to the University through wills, living trusts, charitable gift annuities, charitable remainder trusts, charitable lead trusts, and life insurance policies. It collaborates with professional advisors of persons interested in making such gifts. It receipts all estate gifts whether to the University or the Foundation. It also administers charitable gift annuities and charitable trusts for the University of Arizona Foundation and administers gifts of life insurance policies.
- The Development Office shall approve all contracts with outside development related consultants and vendors.
- The Development Office is not responsible for student-run fundraising events, sponsored projects, or contractual grants. Sponsored Projects & Contracting Services coordinates sponsored projects and contractual grants.
- The Development Office has the responsibility for officially accepting and receipting all contributions offered to the University.
Procedures for Soliciting Gifts
- These procedures are designed to assure fair and orderly solicitation efforts on behalf of the University of Arizona. These procedures must be followed when soliciting or publicizing a contribution to or on behalf of the University or one of its components.
- Before contacting a prospective donor, first consult with the dean or equivalent division administrator and the college or administrative unit development officer, if any. This will avoid conflicts with other development plans involving the donor. Do not contact the prospective donor before you obtain approval for the solicitation. Donor-initiated contact cannot, of course, be cleared ahead of time.
- After obtaining approval by the college or administrative unit, notify: Senior Vice President, Development and University Campaigns, University of Arizona Foundation, PO Box 210109, Tucson, AZ 85721-0109. The memo must state the following:
Name of individual, corporation or foundation
Purpose of solicitation
Amount to be solicited
Approximate date of solicitation
- Changing circumstances may result in the Development Office withdrawing or reassigning permission to solicit a particular donor.
- Submit all development-related publications and solicitation materials at the first-draft stage to:
Office of Fiduciary Compliance and Gift Transactions
University of Arizona Foundation
PO Box 210109
Tucson, AZ 85721-0109
who will review the publication’s content for compliance with requirements or restrictions imposed by the University of Arizona, the University of Arizona Foundation, the State of Arizona, and the Internal Revenue Service.
- Coordinate all publicity about gifts and donors with Office of Communication and Marketing of the University of Arizona Foundation and with the University Office of Public Information.
- Major vendor contracts may contain a gift element. To protect the vendor’s tax deduction and allow for proper coordination, clearance, and stewardship, vendor contracts require consultation with the Office of Fiduciary Compliance and Gift Transactions before the contract can be officially accepted and signed by the University.
- Solicitation for gifts in excess of $5,000 to underwrite special events must be coordinated through the Development Office to avoid jeopardizing future major gifts.
Reviewing and Accepting Gifts
- What is a gift: A gift is defined as a voluntary transfer of items of value from a person or organization where no material amount of goods or services are expected, implied or provided to the donor. Gifts normally take the form of cash, checks, securities, real property, or personal property and may be restricted or unrestricted to a general area of use that benefits the University or one of its components. Once the University has accepted the gift, it becomes Foundation or University property, and the donor has no further direct decision-making power regarding the gift.
A gift will generally exhibit the following criteria:
- A gift is motivated by charitable intent.
- Gifts are irrevocable, and the University is not expected to return all or part of the gift.
- A gift agreement or best practices may require the recipient unit to report on expended funds and balances as well as provide stewardship reports to the donor that share evaluation information about the project, explain how the gift was used, and/or describe the impact of the gift.
- What is not a gift: A sponsored award, sometimes called a grant or a contract, is not a gift. It is a payment to the University for a project that binds the University to a specific scope or area of work that benefits the sponsor. There is almost always a signed, legally enforceable document involved.
If the document includes the following attributes, it is probably a sponsored award and not a gift. sponsored award and gift proposals must be routed through the appropriate office, as described below:
- The source of the payment is any government agency.
- Primary benefits are to the sponsor.
- Patent rights or copyrights belong to the sponsor.
- A provision for compensatory damages is provided in the agreement.
- When combined with other factors, detailed financial reporting is required, involving financial management and other record retention or a provision for an audit beyond a simple expenditure report. This item may determine proposal or award routing.
- When combined with other factors, a requirement for prior approval of changes to the proposed budget. This item may determine proposal or award routing.
- A requirement for disposition of property, whether tangible or intangible, that may result from the project (equipment, inventions, copyrights, etc.). There is a limitation on the use or publication of project data, such as required sponsored approval or restriction of use beyond the public good.
- Authority over the project resides with the sponsor rather than with the University.
- The award and funded project involve subcontracts of programmatic effort to external institutions. Note that outside consultant fees for work integral to the project and supply purchases (i.e., vendors) are not considered subcontracts.
- Specific required activities with substantial return benefit* to the donor/sponsor, or fee for services are defined and required by agreement. (*Substantial return benefit is a quid pro quo, something of non-incidental monetary value provided in exchange for an award or payment. Examples of activities with substantial return benefit include a product, intellectual property rights, or a formal technical report or training program primarily benefiting the sponsor.) Note that restricted gift proposals and associated agreements often define the specific work necessary for a project or program.
- Research Compliance: For all projects, the faculty member, department, and college are responsible for complying with institutional policies. Awards made to the UA Foundation containing research compliance items may require administration through a UA account. This may be in a UA gift account, or via a subaward from the UAF to the UA. This item may determine routing when combined with other factors.
- Gift or Sponsored Project Determination Process: If the sponsor/donor/funder is a non-profit organization or a corporation making a charitable contribution, review the Gift Policy and make a routing determination. Based on your department’s decision, route the proposal through either the UA (Sponsored Projects & Contracting Services) or UA Foundation (GIFT Center). All proposals for external funding must be routed through either the UA or UA Foundation prior to submission, using this policy for guidance.
The department/unit makes initial routing determination and routes the proposal based on items 9 and 10 of this policy. Plan adequate time for review of your proposal.
The proposal recipient (Sponsored Projects & Contracting Services or the GIFT Center) will review the proposal. Either office may require additional information on the routing determination. If the office concurs with the unit’s routing decision, no further action is taken, and the proposal will be reviewed.
In those cases where the initial decision is questioned or it is more difficult to make the call, Sponsored Projects & Contracting Services and the GIFT Center will review the information jointly, make a decision, and notify all parties of the resolution.
In cases that are particularly difficult to resolve, the UA Vice President for Research and the UA Foundation President will review the information jointly and make a decision.
- In some circumstances, grants presenting some of the above attributes are otherwise defined as a gift due to a donor’s charitable intent (item 9.a.). Donor preference is a primary defining attribute and should be addressed through the “Gift or Sponsored Project Determination Process” (item 12).
- The above attributes offer a general framework for determining appropriate routing for a proposal and/or an award. When proposal and/or award routing are uncertain, the UA Foundation GIFT Center works closely with University Sponsored Projects & Contracting Services to determine what is best for the University for managing the award, preserving a positive donor relationship, and maintaining compliance. There are cases where an award requires Sponsored Projects & Contracting Services oversight and UA Foundation development treatment; a subaward from the UA Foundation to the University allows involvement of both offices for these situations.
- Who Can Accept A Gift: Only the President of the University, or the President of the UA Foundation (or their designees), can accept a gift to the University of Arizona. The acceptance procedure is formalized by the presentation of an official gift receipt. Gifts not processed according to these General Guideline of Policies will not be construed as accepted by the University.
- Gifts should not be accepted if any of the following circumstances exist:
- The gift is in contravention of applicable Federal or State laws, or Board of Regents or University policies.
- The gift would obligate the University to undertake duties, financial or otherwise, which it may not be fully capable of meeting for a period required by the terms and conditions of the gifts.
- The gift constitutes a request to the University to operate a commercial endeavor for the sole benefit of the donor.
- The gift cannot be properly administered within the intended recipient’s normal budget or resources (for example, in the case of the requirement for matching funds or resources).
- The gift presents an unreasonable or unacceptable degree of risk due to environmental or health/safety issues.
- The University Development Fund: Gifts are subject to the provisions articulated in the University Development Fund Policy.
Gift Types, Terms And Definitions
- Auctions: Points to consider when holding an auction:
- Only the difference between the fair market value of the item and the purchase price may be counted as a gift. For example, a piece of artwork valued at $100.00 is purchased for $250.00. The amount considered a gift would be $150.00.
- In order to establish charitable intent, the donor must be able to show that he or she knew the value of the item being auctioned before the bidding begins. This can be achieved by publishing a catalog of items offered at the auction, or posting the fair market value next to the item before bidding starts.
- If the auction item has been donated, the item should be reported as a non-cash gift. The donor must establish a value for the donated item (see In-Kind Gifts).
- Each purchaser of an auction item must fill out a Receipt For Auction Purchase form. Attach the receipt to the Lynx Batch Report and forward to the Central Gifts Office.
- Bequests or Deferred Gifts: Bequests are gifts made through a donor’s will, living trust, or estate plan. Deferred gifts are gifts conveyed to the University of Arizona at some later date or in such a way that the donor receives lifetime income such as charitable gift annuities, charitable trusts, etc. Bequests and deferred gifts must be reported to the University of Arizona Foundation Gift Planning Office as soon as notice of such a gift or the intent of such a gift is received, to ensure all applicable statutes, policies and regulations are followed. Please see the Planned Gift Acceptance Policy at UAFoundation.org.
- Conference Support Gifts: Generally, conferences and symposia are budgeted projects which would typically have all expenses related to the event covered by the University or one of its units. The University welcomes contributions from private sources to support such events with the following stipulations:
- As with all gifts, the donor must have a charitable intent when donating to underwrite the activity. Sponsored Projects & Contracting Services must be contacted if it appears that the donor is ‘purchasing’ the services of the University or is receiving benefits not commensurate with a charitable contribution.
- If the donor (or in the case of organizations, the representative of the donor) is planning on attending the event, any applicable registration fees must be paid separately, in addition to the gift, or the amount of the gift must be reduced by the fair value of admission or other benefit received (see Quid Pro Quo Gifts).
- It is the responsibility of the department sponsoring the event to ensure that the distinction is clearly explained to the donor.
- Determining the Donor: Under the vast majority of cases, the person or organizations whose name appears on the face of the check shall be considered the legal donor of a gift. For gifts of securities and real property, the person or organization in whose name that property was registered is considered the donor. Exceptions are cashiers checks and money orders, which are provided by banks to their customers as a convenience. In this case, the person or organization on whose behalf the cashiers check or money order is drawn is considered the donor (see Honoraria as Gifts). If you are uncertain about whom the proper donor is, please contact the Central Gifts Office for assistance.
Common examples of when it may be difficult to determine the donor are listed below:
- A donor maintains a fund (normally a donor advised fund) with a community foundation (e.g., Community Foundation for Southern Arizona) or a charitable gift fund (e.g., Fidelity Charitable Gift Fund) directs the foundation or fund to issue a check to the University of Arizona or one of its units. The community foundation or charitable gift fund, not the individual, is the legal donor, although the individual may receive ‘soft credit’ for the gift. (see Soft Credit Donations). Please note: As per IRS regulations, funds distributed from a third-party charitable organization may not be used to satisfy a personal legally enforceable pledge obligation.
- Several people pool their money, giving that money to a person who writes a check as a charitable contribution. In this case, the legal donor is the person who wrote the check, not the people who provided the money.
- Someone gives money to an organization that collects money for dispersal to other charities, designating that the funds be given to the University or one of its divisions. The legal donor is the organization, not the individual, although ‘soft credit’ would be given.
- A legally enforceable pledge is made under an individual’s name, but the pledge payment is paid with a third party check. The tax receipt will be issued in the name of the third party, not the individual. Please note: This payment from the third party may not legally be applied against the personal pledge obligation, unless the third party is specifically a party to the original and accepted pledge.
- Priority seating rights for athletic events are held by Mr. D., who allows his friend Mr. Y to pay attendance fees and contributions associated with priority seating charges. The tax receipt for the contribution portion will be sent to Mr. Y, who actually issued the check.
- Endowments: An endowment is a fund where the principal (corpus) is held for investment and the payout declared on the principal is made available for spending as directed by the donor. There are only two authorized repositories for endowment gifts: the University of Arizona and the University of Arizona Foundation. Endowment gifts are subject to the provisions of the University Development Fund Policy and 8.13, Endowment and Investment Policies.
- Fair Market Value: This is the value attached to any benefit given to a donor in exchange for his or her contribution and is defined as what a reasonable person would expect to pay for the item in an open market. Any item representing more than a token fair market value, as defined by IRS policies, must be deducted from the total donor contribution to determine the tax deductible amount of the gift. An example would be a dinner for which attendance is priced at $50. If the value of the dinner were $15, the donor’s tax deductible portion of the $50.00 attendance charge would be reduced by $15.00. Please note there is a distinct difference between the cost of an item and the fair market value (see Quid Pro Quo Gifts).
- Fellowships: Fellowships may include stipends and awards for tuition, books and for research-related expenses usually for graduate students. Fellowships must be supported by an endowed fund of $150,000 to $300,000 or by commitments for annual donations totaling the required support level over a period of ten or more years.
- Funds Held in Trust: Funds Held in Trust by others are resources that are neither in the possession of, nor under management, of the University of Arizona or the University of Arizona Foundation, but are held and administered by a third-party for the benefit of the institution. From time to time, funds held in this capacity make income distributions to the University and/or Foundation to support the institution per either donor ortrustor stipulations. Funds Held in Trust that make distributions will be subject to a gift fee as defined in the University Development Fund Policy (University of Arizona Financial Services Policy 8.33).
- Gifts made by University employees to the University: While the University of Arizona appreciates charitable financial support of its faculty members and staff, care must be taken to ensure that such support follows all restrictions and requirements of the University, the Arizona Board of Regents, the State of Arizona and the Internal Revenue Service. Internal Revenue Code section 170 allows a donor to receive a tax deduction for charitable contributions (gifts) made during the year to qualified organizations such as the University of Arizona or the University of Arizona Foundation. Deductibility is ascertained by donor intent. Generally, contributions made by University employees to the University or the UA Foundation are tax deductible if they are made with a “detached and disinterested” generosity. A faculty or staff member who wishes to contribute a gift in support of their department must submit an Employee Donor Agreement Form. A faculty or staff member who wishes to contribute to a gift account from which they may benefit must submit a letter stating the following;
- The gift account is for general purposes of the unit and is not specifically related to the donor’s research or other work.
- The funds from the gift account are dispensed impartially and the donor is not the signer on the account, and
- The sum of the gifts from the donor, his or her immediate family and/or other related entities do not constitute the majority of the funds in the account.
- This letter must be signed and dated by the faculty or staff donor, approved in writing by the responsible Dean or Department Head, attached to the Lynx Gift Report and forwarded to the Central Gifts Office. The Central Gifts Office will forward the letter to the appropriate fund accountant at Sponsored Projects & Contracting Services.
- Honoraria as Gifts: Honoraria are defined under IRS policy as payments for services rendered by the speaker and/or consultant and are reportable as income to that speaker or consultant for personal income tax purposes. Whereas in many cases the organization paying the honorarium makes the check payable to the University of Arizona or one of its units, the honorarium still represents a payment for services rendered and is considered income to the speaker/consultant. If possible, the organization paying the honorarium should make the check payable to the individual. The individual will not receive a gift receipt for a directed honorarium. Faculty or staff members who receive honoraria are welcome to donate these payments to the University, and he or she will benefit from the charitable deduction as a result, however to remain in compliance with IRS code, the check must be from the faculty or staff member and not the organization issuing the honoraria.
- Internships: Internships are established from funds given to the University of Arizona academic departments by agencies, corporations or businesses to support student interns. When a donor and the University of Arizona have agreed, the University will administer internship funds.
- Memorial Gifts: Memorial gifts are made in memory of a deceased person. The donation can be designated to a variety of purposes, including, but not limited to, scholarships, research and academic support. A memorial gift may also be unrestricted in nature. Memorial gifts cannot be used to establish a named endowment unless the sum total of gifts received reaches or exceeds $25,000. Note: The Central Gifts Office will receipt these gifts, but the benefiting unit should acknowledge them because of the sensitive nature of these gifts. Notifying the next-of-kin periodically with donor names (but not amounts) of those who have made gifts in memory of the deceased is also the responsibility of the unit or department.
- In-Kind Gifts: These are non-monetary assets or property, such as stocks and securities; real estate; and other items requiring more than nominal effort to convert into cash. There are two kinds of these non-cash gifts:
- Related Use: These are in-kind gifts that are to be used as-is by the receiving department or unit. Related use gifts should be processed through the University.
- Unrelated Use: These are in-kind gifts that are given with the intention that the department, college or unit will convert these items into cash, usually by selling the item. Unrelated use gifts should be processed through the UA Foundation
With the exception of stocks and securities, and in accordance with IRS regulations, the donor is responsible for determining the value of in-kind gifts. Donors should establish the fair market value of the gift with a recognized independent appraiser. A “qualified appraisal” is required by the IRS to substantiate a donor’s charitable deduction for in-kind gifts. University personnel are not qualified appraisers, and federal regulations do not permit the University to give appraisals or estimates of value (see Gifts Other Than Monies).
- Official Receipt Date: 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; however, we can assist donors by being aware of the following in seasonal periods where the date of gift is critical (end of calendar year, for example).
- If the check has been mailed through the US Postal Service, the postmark on the envelope can be used to establish date of gift.
- If the gift has been sent via FedEx, etc. the date of gift is the date it was accepted by a university representative.
- If gift is made by a credit card, the date of gift is the date the charge was actually accepted by the credit card company.
- Gift Pledges and Gift Commitments: A donor’s promise to give money or other property at some specific time in the future may take two forms, a legally binding pledge or a gift commitment. These approved forms must be used to record a gift promise to the University. (see Pledge and Commitment forms)
- Gift Pledge: A legally binding agreement in the form of a contract, where both parties have agreed to specific described actions. Only those parties who have signed the pledge agreement may fulfill the terms of the pledge. A gift pledge payment from any other source (including a donor advised fund, family foundation, etc.) should not be used to make payments on a gift pledge as it could result in an adverse tax or financial result to the donor.
- Gift Commitment: A completed gift commitment form records a donor’s intention to make a defined gift over a period of time for a specified purpose. It is not a legally binding agreement, but serves to document a commitment to make a gift. This form gives the donor the greatest flexibility in fulfilling their commitment as there are no legal constraints on how a gift commitment may be satisfied.
Under certain circumstances a Gift Pledge is required. Examples are expenditures that will require borrowing of funds commercially to meet University objectives, or capital construction projects where facility naming rights will be used as part of the acknowledgment process or other circumstances where the University is relying on the pledge.
- Quid Pro Quo Gifts: A quid pro quo donation is one in which the donor’s payment is made partly as a contribution, partly in payment of goods received. An example would be a contribution of $50 required to attend a dinner, $15 of which covers the value of the dinner (see Fair Market Value).
- Raffles: The price of entering a raffle is a purchase and is not considered a gift. All raffle tickets must state clearly on the ticket that this purchase is not a tax-deductible donation. Raffles must conform to specific rules, so it is important that a department contact the Development Office prior to holding a raffle.
- Responsibilities For Gift Monies: Acceptance of any gift signifies the Foundation’s or the University’s willingness to administer gift funds in compliance with donor directions. Responsibility of initial acceptance lies with the Development Office. Responsibility of further monitoring of gift funds for compliance lies with the department or division head.
- Restricted Gifts: Restricted gifts are received with the stipulation that the contribution be used for a specific purpose such as faculty recruitment, equipment purchases, student financial assistance or research other than for contract research purposes. Gifts may also be restricted to support the research performed by a specific individual. While the funds may be unrestricted to Dr. X, from the University’s point of view these funds are restricted since they may only be used to support the research performed Dr. X. This type of gift is still a gift to the University and is not the property of the individual (see Transfer of UA Gift Funds).
- Scholarship Gifts: Scholarship gifts support the education of students. Scholarships are awarded through the Office of Scholarships & Financial Aid (OSFA) according to criteria approved by the OSFA, and/or the UA Foundation Office of Fiduciary Compliance, and the donor(s). An endowed scholarship requires a minimum $25,000 gift. A named scholarship requires a commitment of $5,000 annually for a minimum of five years. Additional contributions of any amount may be added to an existing scholarship fund. Payments from individuals or organizations for scholarships to specific students are not gifts or tax-deductible according to IRS regulations.
- Soft Credit Donations: Soft credit allows the University to acknowledge the efforts of persons other than the legal donor, who were instrumental in providing the gift, while not compromising the University’s legal obligation to record and receipt the gift correctly. While these important people should be thanked, care must be taken to ensure the acknowledgment clearly states the legal donor (see Determining the Donor).
- Student Loan Funds: Student loan funds are donor-established funds that are loaned to students and administered by the University. The funds are repaid to the University, or designated third party, by the students who accepted the loan. The Office of Student Financial Aid makes loan awards, as with scholarships. Since loan funds require collection efforts by the University of Arizona, the acceptance of such funds, including terms and conditions, require the approval of the Vice President, Financial Services of the University or his/her designee.
- Transfers of UA Gift Funds: The University of Arizona and the University of Arizona Foundation will not normally initiate a transfer of gift funds to another institution. The UA and UAF consider all gifts to be irrevocable. The UA or UAF accepts gifts for specific areas or departments, or to support specific research and/or projects under the direction of specific individuals, but does not accept gifts given to individuals.
Lynx: All gifts to the University of cash, check, securities, insurance policies, letters, and legal documents must be reported to the Central Gifts Office via entry into Lynx. A batch report form is generated from Lynx, all documentation pertaining to the gift is attached to this form, and the entire packet delivered to the Central Gifts Office, 1125 N Vine, Rm. 210. Gifts $1,000 or greater are subject to the University Development Fund Policy. (UDF Policy) Checks, cash or documents containing credit card information should never be sent through campus mail.
- Gifts of monies: If the gift is a check, photocopy the front and stamp the check with a restrictive endorsement stamp for deposit only to the University of Arizona. If the gift account is not known, contact the Central Gifts Office to obtain a gift clearing account number. All gifts should be delivered to Central Gifts Office on the day received by the department’s development officer or other department employee, as appropriate. Checks, cash or documents containing credit card information should never be sent through campus mail.
- If the gift is cash, complete Lynx Batch Report and deposit the cash immediately in the Bursar's Office. If the gift account is not known, contact the Central Gifts Office to obtain a gift clearing account number. The department is responsible for securing the cash deposit overnight. Please Note: The Central Gifts Office cannot accept cash.
- Once the gift is accepted, it is acknowledged and receipted by the Central Gifts Office. The Central Gifts Office is the only office that can send the official tax receipt to the donor.
- Gifts Other than Monies: The following documentation must accompany the RE batch report:
- A written offer of gift from the donor stating any restrictions.
- The donor’s address and phone number.
- The donor’s representation of value. The UA cannot and will not provide valuations of property gifts for donors; the donor is generally required to obtain an independent appraisal for items valued over $5,000 for income tax purposes (see Gifts-In-Kind).
IMPORTANT: The donor’s estimate is for internal use only. Do not confirm this value in any acknowledgment to the donor.
- Gifts of Stocks or Bonds to The University: Before preparing the Lynx gift report the department should do the following:
- 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.
- If the department receives inquiry from a donor about gifts of stocks or bonds, request that the donor have his or her broker contact the Investment Office, Financial Services Office, telephone: 520-621-9207, or fax: 520-621-3048, to expedite the transfer of the stocks or bonds.
- 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.
- The Investment Office will notify the bank to expect and accept the gifted shares as a "free delivery."
- Upon verification that the gifted shares were received in the "ABOR/UA" account, a copy of the verification will be forwarded by the Investment Office to the Central Gifts Office and to the department.
- Once verification has been received, the department will prepare a Lynx Report, attach documentation as outlined in Gifts Other than Monies and forward to the Central Gifts Office.
- Gifts of Stocks or Bonds to The UA Foundation:
- If the department receives security certificates directly from the donor, contact the Office of Fiduciary Compliance and Gift Transactions for stock power execution instructions, follow the applicable steps in b. below and hand deliver the certificates to that office.
- If the department receives an inquiry from a donor about gifts of stocks or bonds other than in certificate form, obtain the donor’s broker contact information, a description of the assets to be transferred, written confirmation from the donor regarding precisely how the gift is to be directed and contact the Office of Fiduciary Compliance and Gift Transactions with the above information along with the donor’s Lynx constituent ID number, the UA Foundation account number into which the proceeds are to be deposited and as to whether or not the gift is in fulfillment of a pledge or gift commitment or is anonymous.
- The Office of Fiduciary Compliance will accept the gifted assets and process the Lynx entry as well as the related tax receipt.
- Gifts of equipment to the University that are accompanied by a contractual gift agreement must have that agreement signed by Procurement and Contracting Services. Please Note: The benefiting unit, department, or college cannot sign such an agreement on behalf of the University. Contractual provisions which require the University to indemnify or hold harmless the donor as a condition of gift acceptance are generally prohibited and will require deletion or modification to comply with state and ABOR requirements.
- To ensure that the University is not subjected to unreasonable risk or liability due to an environmental or health/safety hazard, prior to acceptance, Risk Management Services will review and approve:
- Real estate for the presence and condition of asbestos-containing materials, PCB containing electrical equipment, potential for exposure to radioactive materials, evidence of past chemical-related activities and associated contamination resulting from those activities and fire, structural or electrical hazard. Gifts of Real Estate must also be approved by Real Estate Administration and the Financial Services Office.
- laboratory chemicals, reagents and compressed gases, industrial chemicals, building materials, heavy equipment, electrical equipment, transformers, capacitors, vehicles, aircraft, or watercraft.
- Risk Management will review the proposed gift for specific criteria and will recommend to the Central Gifts Office whether or not the gift should be accepted.
- All gifts-in-kind are reviewed by the University of Arizona Foundation Office of Fiduciary Compliance and Gift Transaction (or designee) to determine whether the gift will be accepted. If the gift will not be accepted, the Central Gifts Office will notify the department. If the gift is accepted, it will be receipted. When applicable, the department should arrange for delivery or pickup of the property. If the UA disposes of a non-cash gift within three years, the Financial Services Office prepares IRS Form 8282 per IRS requirements.
- The Central Gifts Office will review the Lynx Batch Report and the accompanying documentation for:
- Completeness of forms and documentation
- Appropriate classification of the gift
- Appropriateness of account number receiving the gift
- 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 the Financial Services or Sponsored Projects & Contracting Services, as appropriate, for resolution.
- Inform the originating department and the department’s development officer, if any, of how the funds will be handled.
- Dispose of the funds in accordance with University policy.
- Fund accountants review the Lynx Batch Report and the documentation received from the Central Gifts Office, create new accounts if necessary and notify the Central Gifts Office of the new account number. They also notify the Central Gifts Office and the department of any other corrections or adjustments to the gift information or documentation.
- When the gift is accepted, the Central Gifts Office will stamp “RECEIVED - Central Gifts” on the Lynx Batch Report and forward a copy gift packet to the appropriate offices.
- All gifts must be acknowledged with a letter and/or an official gift receipt. The Central Gifts Office is the only University agency authorized to provide official gift receipts to donors. The benefiting unit should also acknowledge the gift with a thank you letter to the donor.
- The Central Gifts Office prepares the official gift receipt and, when applicable, signs an IRS Form 8283 for the donor.