The following policy of the UNH Foundation is included with the policies of UNH for information purposes only. It is not to be construed as a policy of the University by virtue of this inclusion.

 

• 1. Definition. A gift or donation (gift) is a voluntary, irrevocable transfer of assets (e.g. cash, securities, real or personal property) made by a donor without any expectation or receipt of direct economic benefit or tangible compensation (i.e., goods or services) from the recipient commensurate with the worth of the gift. The donor may direct assets for a specific purpose (e.g. stipends or scholarships), program, department or other entity whereby the gift is considered "restricted." Otherwise, it is "unrestricted" or "undesignated" and can be used at the recipient's discretion. The gift mayor may not involve an expectation of an "informal" summary at the end of the giving period.

   

• 2. Policy. If any one of the following indicators exists, the University of New Hampshire Foundation, Inc., (Foundation) shall have responsibility for solicitation, negotiation, receipt, and administration of the gift or donation.

   

  • 2.1 The gift is from a private individual.

     

  • 2.2 The gift is from a non-governmental source and is for construction or endowment.

     

  • 2.3 The gift is from a non-governmental source and is for (or is) equipment not resulting from a competitive proposal process and not requiring a financial, performance, or use/disposition report.

     

  • 2.4 The conditions or stipulations placed on the intended use of the gift do not constitute a grant, contract, or other sponsored agreement (see UNH Sponsored Program Administration policy on "Grants, Contracts, and Other sponsored Agreements), but do direct the funds to support general scholarship, general research, or a program, department, or other University entity.

     

  • 2.5 The donor specifically intends the award to be a charitable gift as reflected by the characteristics of the award instrument and pertinent documentation and as defined by the IRS.

     

  • 2.6 The donor intends the gift to be irrevocable and, therefore, relinquishes the right to reclaim the gift or any unused remainder. (There can be certain "challenge grant" situations, whereby not securing the appropriate level of funding negates the gift.)

     

  • 2.7 The donor makes the gift without expectation of direct economic benefit or other tangible benefit commensurate with the worth of the gift. Indirect benefits such as tax advantages, business or personal goodwill derived from close association with the Foundation or University, and miscellaneous benefits derived from donor club status are not sufficient to negate gift intent.

   

• 3. Procedures

   

  • 3.1 All gift solicitations and negotiations should be coordinated with the appropriate Foundation officer assigned to the college, school or other University unit.

     

  • 3.2 Prior to acceptance by the Foundation, all gifts are subject to the approval of the cognizant dean, vice president or Provost, University President, or by the Foundation Gift Acceptance Committee. (See policy/procedures of latter.) Any gift or donation with terms or conditions which would violate law or the policies and procedures of the University System of New Hampshire (USNH), the University or its affiliated Foundation will not be accepted.

     

  • 3.3 Cash, checks, negotiable securities, and other forms of donation must be accompanied by proper documentation specifying the donor's name and address as well as the donor's wishes (if any) with respect to the use of the gift and the intended recipient of the gift.

     

  • 3.4 Designations of unrestricted gifts to the University, including bequests, are made through a review process specified by the University President or, in the case of gifts to the Foundation, by the Foundation Gift Distribution Committee. (See procedures of latter.)

     

  • 3.5 All gifts transmitted to the University or the Foundation, except those associated with New Hampshire Public Television, must be recorded through the University's and Foundation's joint gift recording and accounting system within 48 hours of receipt.

     

  • 3.6 The Foundation will provide the donor with gift acknowledgment adhering to Internal Revenue Service guidelines and all applicable laws.

     

  • 3.7 If the gift is to be used as a required match or cost sharing on a grant, the Foundation will coordinate with the University's Sponsored Program Administration.

     

  • 3.8 The Foundation provides stewardship functions for the gift and maintains records that can be audited.