University System of New Hampshire

J. Gift Acceptance Policy

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J. Gift Acceptance Policy

  1. State Delegation of Authority
    1. State law (RSA 187-A:16) delegates to the Board of Trustees authority and responsibility for the management and control of all income received and due from all sources, including the authority to use the same in such manner as the Trustees may determine.
    2. Further, State law states that the Trustees are authorized to "accept legacies and other gifts to or for the benefit of the university or any of its divisions or departments" and "...all gifts of securities and property, real and otherwise..."
  2. Trustee Delegation of Authority
    1. The Board of Trustees delegates to the President of each University System institution responsibility and authority for approving, overseeing and acknowledging all unrestricted cash gifts, as well as all restricted or conditional gifts, gifts of securities, deferred gifts, and gifts of real or personal property, in accordance with this and other relevant USNH policies.
    2. The USNH Treasurer will notify the Executive Committee of the USNH Board of Trustees of any gift with a value of $10 million or greater prior to any public announcement.
  3. General Policy on Gift Acceptance
    1. Definitions
      1. A 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. In other words, a gift is a nonexchange transaction where there are no reciprocal transfers for approximate equal value.
      2. A grant, contract, or other sponsored agreement is not a gift. It is a written agreement representing the voluntary transfer of money or property by a sponsor in exchange for the specifically enumerated performance of services (i.e., an exchange transaction), often including rights and access to results of this performance, and always including some formal financial and/or technical reporting by the recipient as to the actual use of money or property provided. The agreement is enforceable by law, and performance is usually to be accomplished under time and fund use constraints with the transfer of support revocable for cause.
    2. Gift Acceptance Committees. Each University System component unit shall establish a Gift Acceptance Committee consisting of officials from the institution. At a minimum, the institutional Committees shall include the component unit's Chief Financial Officer and Chief Advancement Officer, or their designees. The role of the Gift Acceptance Committee is to review and recommend gifts for final approval by the President.
      1. Prior to acceptance of any complex or unusual gift, any gift of real property, or any gift with a gross value in excess of $100,000 other than cash and/or publicly-traded securities, the Gift Acceptance Committee will review the facts and circumstances surrounding restrictions, conditions, pledge schedules, and other terms to determine whether accepting the gift is in the best long-term interests of the institution. To be acceptable, gifts must be consistent with the mission, purpose, and priorities of the institution, and comply with all applicable laws, regulations and USNH policies.
      2. Prior to acceptance of any complex or unusual gift, any gift of real property, or any gift with a gross value in excess of $1,000,000 other than cash and/or publicly-traded securities, the Gift Acceptance Committee shall consult with the USNH Treasurer and General Counsel in its review and acceptance under 3.2.1 above. Institutional Gift Acceptance Committees are encouraged to seek consultation from the USNH General Counsel and the USNH Treasurer in all instances whenever there is a question.
    3. Gift Acceptance Policies and Procedures. Each University System component unit (i.e., University of New Hampshire, Keene State College, Plymouth State University, Granite State College, UNH Foundation, Keene Endowment Association, etc.) is responsible for developing their own gift acceptance policies and procedures consistent with this USNH policy. Institutional policies may be more restrictive than USNH policy but not less restrictive. Institutions are encouraged to seek review of their policies and procedures by the USNH General Counsel and USNH Treasurer.
      1. USNH component unit policies shall provide for the sound administration of current use gifts, endowed funds, capital gifts and planned giving programs at USNH, and ensure that gifts and donor recognition are consistent with the purpose and mission of USNH.
      2. For all pledges, conditional gifts, restricted gifts, and gifts of real or personal property, USNH component unit policies shall require written documentation such as a memorandum of understanding from the donor that specifies the required use of the contributed funds, conditions associated with the pledge (if any), and expected payment schedule of the pledge to USNH. This documentation shall be signed by the donor and all required campus representatives prior to public announcement or recording in the official institutional development records or the USNH financial statements.
      3. Acceptance of a gift by the institution is demonstrated by the full execution of the Memorandum of Understanding, the formal acknowledgement of the gift by the institution, the public announcement of the gift, the recording of the gift in the official records, or any of the above.
      4. All gifts naming facilities or programs shall comply with USNH BOT policy III. H.
      5. All gifts of real and personal property must comply with USNH BOT policy VI.B.
      6. All gifts of negotiable instruments must comply with USNH BOT policy IV.I.1.
      7. All conditions and restrictions of gifts must comply with USNH BOT policies on conflict of interest III.I and III.L.
      8. USNH institutions will follow the Internal Revenue Code and Regulations regarding the acknowledging and receipting of charitable contributions.
      9. USNH institutions shall comply with IRS reporting obligations including, but not limited to, the following forms, as required: Form 1098-C - Contributions of Motor Vehicles, Boats, and Airplanes; Form 8282 – Donee Information Return (Sale, Exchange or Other Disposition of Donated Property); Form 8283 – Noncash Charitable Contributions.