All pledges scheduled to be completed by the end of a fiscal year will be written off at the closing of each fiscal year unless Advancement Services is notified that the pledge is still collectable.
Pledge write-offs associated with previously assigned naming opportunities will be handled in a manner appropriate to the pledge and on a case-by-case basis by the Gift Acceptance Committee.
Physical Acceptance of Funds
When a University staff member receives a check, cash, or other currency, it is the responsibility of that staff member to transmit the funds to Advancement Services. Gifts of
cash or checks must be delivered to Advancement in person. At the time of delivery, a staff member will verify the cash amount with the deliverer.
The use of campus or interoffice mail to transmit funds to Advancement is not permitted.
If a University or Advancement staff member receives gifts while traveling on University business, she or he shall transmit the funds to Advancement Services immediately upon his or her return.
No University staff member may take physical possession of any non-cash item (such as books, artwork, musical instruments, etc.) prior to approval by the Vice President for Institutional Advancement where such is required. If Vice President for Institutional Advancement approval is not required for a non-cash item, the staff member shall consult with Advancement on appropriate gift acceptance procedures.
Quid Pro Quo and Events
According to the IRS, the definition of a quid pro quo contribution is any payment a donor makes to a charity partly as a contribution and partly for goods or services. The University is required to provide a written disclosure to a donor who receives goods or services from the University in exchange for a single payment from the donor in excess of $75. This disclosure will:
inform the donor that the amount of the contribution that is deductible for federal income tax purposes is limited to the excess of any money (and the value of any property other than money) contributed by the donor over the fair market value of goods or services provided by the charity, and
provide the donor with a good faith estimate of the fair market value of the goods or services that the donor received.