University Acceptance of Private Donations (Gifts)

POL 03.00.3

Advancement

Authority: Board of Trustees

History: First Issued: September 11, 2009. Additional History Information.

Additional References:
POL 03.00.1 - Coordination of Fundraising Activities
REG 03.00.2 - Corporate Matching Gift Programs
REG 03.00.3 - Criteria and Procedures for Accepting Gifts of Real Estate
REG 03.00.1 - Notification of Gift Receipts
POL 03.00.2 - Criteria and Procedures for Naming Facilities

Contact Information: Vice Chancellor for University Development (919) 515-3226

1. Purpose

1.1 North Carolina State University (University) actively encourages the solicitation and acceptance of private gifts from individuals, corporations, foundations and associations that enable it to fulfill its mission of teaching, research, extension, and engagement. This policy is intended: (a) to provide guidance to North Carolina State University community and the general public regarding the acceptance of gifts; (b) to ensure that private gifts to North Carolina State University are properly recorded and administered using appropriate internal controls and sound financial business practices; and, (c) to ensure that the acceptance, management, and reporting of gifts are handled in compliance with external regulations, national standards, and the University’s fiduciary obligations to donors.

2. Statement

2.1 A gift is personal property (cash, securities, books, equipment, life insurance, etc.)
or real property provided by a private (non-governmental) donor for which no goods or services are expected, implied or forthcoming for the donor. Industry payments, made under contractual requirements, are not recognized as gifts.

2.2 A gift may be outright or deferred.

2.3 A gift may be unrestricted, restricted or for permanent endowment for use in meeting needs identified by the University, a college, department, or University Associated Entity.

2.4 Gifts to the University may be either for the general purposes of the University or for the specific use of one of its constituent schools, departments, institutes, centers, programs or agencies.

2.5 University Associated Entities include any of the 501(c) (3) organizations that support either a specific area (i.e., the Alumni Association) or an academic unit (i.e., Engineering) at North Carolina State University. These entities are required to follow UNC-GA Regulation 600.2.5.2[R], “Required Elements of University-Associated Entity Relationship.”

3. Principles

3.1 The University and University Associated Entities will assess the financial desirability of receiving assets as private gifts from potential donors and determine whether to accept a gift as offered.

3.2 The University and University Associated Entities reserve the right to refuse any gift including gifts that are too restrictive in purpose, require expenditures beyond their resources, or that compromise the academic freedom of the University community.

3.3 The University and University Associated Entities cannot accept gifts that involve unlawful discrimination based on race, religion, sex, age, national origin, color, handicap or any other basis prohibited by federal, state and local laws and regulations.

3.4 While valuable benefits, particularly tax and financial considerations may accrue to donors in certain circumstances, the donor must have a donative intent as a primary motive for making a gift to the University directly or to a University Associated Entity. Donative intent is the intention to give away something of value for the betterment of the University . Funds received by the University or by a University Associated Entity for the benefit of the University shall only be accounted for as gifts where such donative intent is present. Amounts received in exchange for services or property shall not be accounted for as gifts. Amounts received that result in tangible benefits to the donor in the form of recognition items, tickets to events, and similar forms of thank-you gifts will be accepted, processed, and receipted in accordance with applicable IRS regulations.

4. Regulations, Rules and Standard Operating Procedures

The Chancellor or Chancellor’s Designee may adopt procedures for the acceptance of gifts to ensure that private gifts to North Carolina State University are properly recorded and administered using appropriate internal controls and sound financial business practices; and to ensure that the acceptance and management of gifts are handled in compliance with external regulations and the University’s fiduciary obligations to donors. Such procedures must comply with applicable federal and state laws and be consistent with this policy and other applicable university administrative regulations.