Gift Processing Procedures
A gift is a donation to the University with no good or service given in return to the donor. A gift can be in the form of cash, check, credit card, stock, real estate or another types of financial instruments or tangible assets (gift-in-kind).
Checks for grants, contracts and cooperative agreements (how to tell the difference between sponsored projects and gifts) should be sent to the Grants and Contracts Office at Box 8018. Sponsored projects are recorded in fund ranges 38xxx, 4xxxx, 5xxxx and 6xxxx (excluding 67xxx and 69xxx).
If your department solicits donations in the form of a letter or special envelope distribution, please supply the Finance Office and the Medical School Alumni and Development Office with a copy for review prior to distribution. This will allow for verification of appropriate information as well as giving each office the information needed to respond to the donors’ inquiries and process the actual gifts.
The correspondence for all gifts received should be assembled in the following order:
1. Report of Gift Form (ROG), attached below – Numerous checks from different donors for the same fund can be listed on the same form, but need to be listed alphabetically by donor’s last name.
2. Check (endorsed)
3. Correspondence received with the check – if no correspondence is received with the check, insert a copy of the check. ( If department made an initial solicitation, include a copy with first gift received and any other back-up.)
4. Envelope – The envelope is especially important in the case of stock gifts as the postmark is used in determining stock valuation credit for the donor. At calendar year end the postmark is also needed for tax purposes on all gifts.
5. Copy of departmental acknowledgement letter – An acknowledgement should be prepared and mailed to the donor by the department. Finance needs a copy of the letter because the wording may create restrictions on the use of the gift. If multiple gifts are listed on the ROG and all acknowledgements are alike, only one letter marked “sample” is needed.
One copy of the original package, assembled in the same order listed above, should be made. The original package, plus the two sets of copies, should be sent to Ame Krippner, at the Finance Office, Box 8099.
The Finance Office verifies the information and keeps a copy for the files. The original is sent to Gift Processing. Gift Processing deposits the checks and enters the appropriate information into the University Gift System. They forward the remaining copy to Gifts & Endowments, which is the office responsible for the financial accounting of gifts.
Please send all gifts for processing in a timely manner.
The following fund ranges are considered gifts:
10xxx – general operating endowments for school/department
16xxx – endowments – accumulation to principal
26xxx-27xxx – endowed gifts
30xxx-35xxx – unendowed gifts
67xxx – fund awaiting designation (FAD funds)
70xxx-71xxx – endowed scholarships and prizes
72xxx- unendowed scholarships
73xxx – student aid / government scholarships
74xxx – endowed student loans
75xxx – endowed student loan/scholarship combinations
76xxx – unendowed student
78xxx – unendowed student loan/scholarship combinations
90991 – general support gifts
If you have any questions regarding gifts or these procedures, please contact Ame Krippner at 314-362-5535 or e-mail firstname.lastname@example.org.