the Board of Regents to immediately sell the securities. The Gift Acceptance Committee (GAC) must approve any exceptions to this policy.

  • Closely Held Securities – Gifts of closely held securities will be considered after review by the GAC [see Section V. Gift Acceptance Committee, page 6 of this policy]. Valuation must be substantiated through other sales prices or by expert appraisal prior to acceptance and shall be in accordance with generally accepted accounting principles for closely held businesses and methods consistent with IRS regulations pertaining to gift validation.
  • Gifts of closely held securities will be recorded as cash gifts in the amount of the sales proceeds.
  • Family Limited Partnerships – Gifts of interests in a family limited partnership will be considered after review by the GAC.
  • Retirement Plan Assets – A donor may wish to withdraw or transfer retirement plan assets during his/her lifetime to fund a gift to the University.

Services

This term includes professional or personal services or time which is freely given. Gifts of service are not recognized by the IRS as a tax deductible donation and the University will not provide a tax receipt for these gifts.

Tangible Personal Property or Gifts in Kind

Typically, non-monetary gifts considered for gift recognition purposes are pieces of tangible personal property or gifts in kind. The University will consider gifts in kind only after a thorough review of the item’s consistency with the University’s mission, the cost of maintenance, cataloging, delivery, insurance, display, any space requirements for exhibiting or storage and any other pertinent issues surrounding the gift. The University will also ensure that the acceptance will not involve financial commitments in excess of budgeted items or other obligations disproportionate to the usefulness of the gift.

Legal and ethical requirements prohibit KSU from appraising gifts. This protects both the donor and the University. Such appraisals of gifts in kind are to be conducted by certified, independent appraisers not associated in any way with the University as per IRS Form 8283; the cost of the appraisal shall be the donor's responsibility.

Gifts in kind valued at or under $100,000 will be considered after review and approval by the Vice President for Institutional Advancement. Gifts in kind valued over $100,000 will need approval by the University President.