Revision Date: 24 August 2015
Errors or changes to: firstname.lastname@example.org
The Vice President for Development is delegated as the agent of the University to receive all gifts to the University. This includes the responsibility of maintaining all the gift records and acknowledging every gift we receive according to IRS, Board of Regents, UTS138, Gift Acceptance Procedures, and UTA regulations, policies and procedures. Therefore, all gifts received by the University - check, cash, credit card or non-cash gifts (called gift-in-kind) - must be processed through the Development Office.
Immediately upon receipt of a gift, the college/school/unit receiving the gift should complete a Gift Records Form (Form 20-1). For each gift, send the completed Gift Records Form (Form 20-1), the gift (cash, check, credit card or gift-in-kind documentation) and all other correspondence or document relating to the gift to the Development Office. In addition, "real cash" gifts require the blue copy of the cash receipt from the department; see Cash and Check Handling (Procedure 2-14). The Development Office will record the gift in the donor record, deposit the gift in the appropriate departmental cost center, and receipt the donor per IRS regulations. The documents are then filed and maintained by the Development Office.
The department receiving the gift will copy the Gift Records Form (Form 20-1), the check and other documentation for their records. The Development Office will send a monthly report to the department to identify the deposit for reconciliation of the Cost Center Statement. No hard copies of documents will be returned to the departments.
Follow the above procedure for gifts donated as endowments and the additional instructions in Endowment Establishment and Management (Procedure 2-6), Endowment Funds.
Proper stewardship of all gifts is essential to maintaining a relationship with donors. The Development Office coordinates the IRS receipts, and thank you letters from the President and the VP Development. Since the departments receiving the gifts often have the strongest relationship with donors, they are encouraged to acknowledge each gift in the form of appreciation and thanks.