Gift Acceptance Policy
Gift Acceptance Policy
Purpose
This policy sets forth the types of gifts accepted by the University of Dayton, the guiding principles used to secure gifts and gift administration upon receipt.
Scope
All University Members.
Policy History
Effective Date: January 24, 1994
Approval: December 10, 2020
Policy History:
- Approved in original form: January 24, 1994
- Approved as amended: January 3, 1996
- Approved as amended: September 5, 2000
- Approved as amended: April 19, 2016
- Approved as amended: December 10, 2020
Maintenance of Policy: Vice President of University Advancement
Policy
All gifts to the University of Dayton are received and processed by University Advancement, who records the terms, restrictions and conditions of the gift with a commitment to honor the designation request(s) of the donor. All outright, in-kind, pledge, deferred gifts and philanthropic grants to the University of Dayton shall be accepted based on their ability to further the mission of the University. Each gift shall be receipted in a timely manner and acknowledged appropriately. Notification of gifts to specific areas on campus shall be provided to associated Vice Presidents and Deans and their budget managers for distribution to appropriate parties. Advancement will record pledges and maintain a pledge payment reminder process to facilitate fulfillment of commitments.
All fundraising efforts are to be coordinated through University Advancement and subscribe to the Council for Advancement and Support of Education (CASE) Statement of Ethics and the Association of Fundraising Professionals (AFP) Code of Ethics. Copies of these documents, along with Advancement’s Gift Acceptance and Endowment Procedures, are available in the office of the Vice President of University Advancement.
Procedures and policies for counting, reporting and recognizing gifts made to the University of Dayton shall comply with all Internal Revenue Service (IRS) regulations and conform to standards established by the following: Council for Advancement and Support of Education (CASE), Council for Aid to Education (CAE) per their Voluntary Support of Education (VSE) survey and the National Association of College and University Business Officers (NACUBO).
The University accepts non-cash gifts (i.e. securities, real estate, etc.), but reserves the right to refuse any of these gifts in the best interests of the University. Deferred gifts (Charitable Gift Annuities, Charitable Remainder Trust, life insurance policies, etc.), are also accepted.
Gifts to the University shall be reported when assets are actually transferred or irrevocably pledged to the University. Deferred gifts shall be reported only when assets are transferred or an irrevocable gift instrument is consummated. Documented provisions in wills or other revocable instruments shall be acknowledged and reported separately.
A variety of gift naming opportunities are available to donors for perpetual recognition as documented in the Physical Spaces and Significant Entities Naming Procedures. The minimum gift amounts required to exercise all opportunities (e.g., endowments, scholarships, buildings or grounds, schools or colleges, centers or institutes, etc.) are established and periodically reviewed and updated, as appropriate, by the Vice President of University Advancement, Executive Vice President of Business and Administrative Services, Provost and President. Complete guidelines and required minimums for naming opportunities are available in the office of the Vice President of University Advancement.