ÌìÃÀ´«Ã½

Gift Acceptance Policy

ÌìÃÀ´«Ã½ gratefully acknowledges its philanthropic community of donors. The objective of this policy is to offer a high-level set of guiding principles around gift acceptance to ensure that ÌìÃÀ´«Ã½ is a responsible steward of donations and that gifts contributed are in the best interest of the University. This policy shall be reviewed periodically by the Gift Acceptance Committee and may be amended at any time.

ÌìÃÀ´«Ã½ adheres to the "" and "" established by the Council for the Advancement and Support of Education (CASE). As a 501(c)(3) organization, ÌìÃÀ´«Ã½ accepts gifts, the transference and implementation of which are deemed consistent with state and federal laws, that further its mission as stated below.

Mission

ÌìÃÀ´«Ã½ is dedicated to providing an education in the liberal arts that is characterized by boldness, rigor, and practical idealism. At ÌìÃÀ´«Ã½, distinguished scholar-teachers work closely with students, taking advantage of fluidity among disciplines to explore the world with a variety of tools. The University seeks to build a diverse, energetic community of students, faculty, and staff who think critically and creatively and who value independence of mind and generosity of spirit.

Gift Acceptance Committee

Gifts that do not easily and readily meet the standards for acceptance as outlined elsewhere in this policy will be referred to a Gift Acceptance Committee for institutional review at the highest level. This Committee includes the Vice President for Advancement, the Provost and Senior Vice President for Academic Affairs, and the Senior Vice President for Finance and Administration, and/or their designees.

Administration of Gifts

ÌìÃÀ´«Ã½’s Office of Advancement (ADV) is responsible for the coordination of gift solicitations and the acceptance of gifts in compliance with this policy. All gifts to the University, including those received directly by faculty, administrators, volunteers, and staff, must be forwarded to ADV to ensure appropriate recording, allocation, receipting, acknowledgment, reporting, and stewardship. ADV will work with campus partners to ensure compliance with this policy.

ÌìÃÀ´«Ã½ adheres to the standards of accounting and reporting established by the Council for Advancement and Support of Education (CASE). All gifts and pledges will be recorded in compliance with IRS regulations and acceptable accounting practices.

Further guidelines on gift administration including endowment minimums, gift vehicles, and approved designations are maintained by ADV.

Guiding Principles of Gift Acceptance

The solicitation and acceptance of gifts are managed by authorized ÌìÃÀ´«Ã½ staff. All ÌìÃÀ´«Ã½ employees, as well as volunteers soliciting gifts on behalf of ÌìÃÀ´«Ã½, are bound by this policy and should consult appropriate ADV staff prior to soliciting gifts on behalf of the University. ÌìÃÀ´«Ã½ encourages unrestricted, current-use gifts for budget relief of its highest priorities. Restricted, deferred, and/or endowed gifts are also accepted by ÌìÃÀ´«Ã½, provided they are in alignment with the below guidelines:

• Support of Mission. Gifts must be aligned with and in furtherance of ÌìÃÀ´«Ã½’s mission, as stated above, for purposes, positions, and programs that have appropriate academic and administrative approval.
• Philanthropic Intent. Gifts to ÌìÃÀ´«Ã½ are understood to be given expressly with a philanthropic intent and should not be granted with any degree of expected benefit or influence over ÌìÃÀ´«Ã½ activities. To maintain the charitable nature of the gift, a donor must relinquish control of the asset(s) and may not direct the funds to any specific student, staff, or faculty member, or be involved with the direction of the funds once the assets are given to the University. Donors may designate gifts in honor or memory of a specific individual.
• Undue Burden. ÌìÃÀ´«Ã½ cannot accept a gift that imposes an unreasonable or undue financial, legal, or administrative burden on ÌìÃÀ´«Ã½ or commits the University to expenditures that are not aligned with its institutional priorities.
• Gift Restrictions. ÌìÃÀ´«Ã½ seeks gifts that provide support for its greatest needs and priorities. Gifts should be in amounts appropriate to the specific uses as defined by ADV. Gifts should not be directed to purposes that are so restricted that effective use or administration is problematic, or in ways that violate ÌìÃÀ´«Ã½’s commitment to equal opportunity. 
• Equal Opportunity. ÌìÃÀ´«Ã½ does not accept gifts restricted in ways that involve discrimination per the University's non-discrimination policy or any other basis prohibited by federal, state, and local laws and regulations. Examples of unacceptable restrictions include but are not limited to: race, color, ethnicity, religion, sex, gender identity, sexual orientation, pregnancy status, age, immigration or citizenship status, political belief, or disability.
• Donor Advisors. While ÌìÃÀ´«Ã½ may work with donors to further their charitable and/or estate-planning goals, ÌìÃÀ´«Ã½ employees do not provide official financial, tax, or legal advice. Donors are ultimately responsible for ensuring that their proposed gift furthers their philanthropic goals. As such, donors are encouraged to seek the advice of independent legal, tax, and financial advisors in matters relating to their gifts.
• Confidentiality. ÌìÃÀ´«Ã½ carefully reviews all requests for anonymity. The University is committed to transparency and will share information about the receipt of gifts in a manner that respects the wishes of the donor, best serves the interests of the University, and aligns with the University’s priorities. At the request of a donor, ÌìÃÀ´«Ã½ may treat a gift as anonymous. However, a gift will not be treated as anonymous with the purpose of disguising the source of a gift that ÌìÃÀ´«Ã½ would otherwise not have accepted.

Acceptable Forms of Gifts

ÌìÃÀ´«Ã½ accepts many types of gifts and encourages those that are most liquid, including US currency, wire transfers, checks, credit card charges, and payroll deductions. Publicly traded securities require special handling but are also considered to be one of the preferred methods of giving. ÌìÃÀ´«Ã½ accepts shares of publicly traded securities by electronic transfer or printed certificates.

Gifts from Donor Directed Funds (DDF) and Donor Advised Funds (DAF) are accepted. If a donor plans to fulfill a pledge via a DAF, they should inform ADV when establishing their pledge so that the appropriate language may be included in their gift documentation.

Other types of gifts, such as real estate, gifts-in-kind, life insurance, stock options, privately held stock, and promissory notes, are generally welcomed by ÌìÃÀ´«Ã½. However, they require special handling, additional documentation, and consideration by the Gift Acceptance Committee. Donors are encouraged to discuss such gifts with ADV.

Matching Gifts

Often the amount of a gift can be increased through a corporate matching program. Matching gifts are recorded when a donor notifies ÌìÃÀ´«Ã½ that an employer will match their donation. The company’s match will follow the donor’s designation of the original gift. All matching gifts will follow the guidelines outlined by the company providing the match.

Donors are given full credit for matching gifts provided by their employer. The payment of a matching gift is the responsibility of the employer and not the employee/donor.

Allocation and Receipting

The Office of Advancement processes and receipts all gifts to ÌìÃÀ´«Ã½. Receipts are issued to the legal donor. The postmark date serves asthe gift date for all cash gifts mailed to ÌìÃÀ´«Ã½.

In the case of non-cash gifts, determining the value of the assets on the date of the gift shall be the responsibility of the donor and the donor’s advisors. ÌìÃÀ´«Ã½’s policy is to sell all marketable securities (stock) as soon after receipt as is reasonably feasible. Stock donations are recorded on the date ÌìÃÀ´«Ã½ takes possession of the gift.

In the absence of any prior agreement or written intention, ÌìÃÀ´«Ã½ will assume that all gifts are for
unrestricted current-use support of its institutional priorities.

Naming and Recognition

Where appropriate, the University recognizes the philanthropic support of its donors with honorary naming. Naming guidelines are established and reviewed by the University from time to time. The naming of scholarships, academic centers, student grants, and other programs or initiatives shall be approved by ÌìÃÀ´«Ã½ leadership as stated in the University’s Naming Policy. ÌìÃÀ´«Ã½ donors may be recognized in print and online unless they request anonymity.

Further guidelines on naming and recognition are maintained by Advancement.