University Resources, Operations and Policies

Schools/Departments:

  • Office of University Advancement
  • Categories:

  • Fundraising
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    Gifts of Cash, Checks, and Charge Cards


    Policy Statement

    The policies and procedures set forth in this document are intended to assist and guide the activities of Adelphi University personnel in the Office of the Vice President of University Advancement by providing guidelines on gifts of cash, checks, and charge cards.


    Reason for Policy                                                                    

    These policies and procedures are intended to provide a standardized and consistent approach to the Adelphi University’s solicitation and acceptance of gifts of cash, checks, and charge cards that protects our good relationships with the many alumni, friends, corporations, foundations, and others who benefit Adelphi through their philanthropy.

    It also insures that the receipt of gifts of cash, checks, and charge cards advances the University’s mission and is done in accordance with applicable local, state, and federal statutes. The guidelines are designed with sufficient flexibility to accommodate complex or unpredictable gift situations and donor expectations within the constraint of consistency with the University’s mission and policies.


    Who Is Governed by this Policy 

    Staff


    Policy

    I. Gifts of cash and checks are valued for gift credit purposes at their face value and are accepted by Adelphi University in any amount. Checks should be made payable to Adelphi University or one of its constituent schools or colleges. Checks made payable to an employee, agent, or volunteer for the credit of the University may not be accepted as gifts.
    II. Gifts in the form of checks or cash, intended for Adelphi University are to be sent to the Office of the Vice President of University Advancement by the most expedient way on the day they are received.
    III. All gifts of checks or cash receipts received will be deposited in a financial institution as soon as possible and no later than the second business day after their receipt.

    A. Procedures for Handling Cash, Checks and Credit Cards

    1. Cash receipts are given immediately for all cash received provided that the donor is identified
    2. Gift processing staff enters all donations data into the computerized donor tracking system.
    3. Checks are endorsed and credit card slips and checks are scanned.
    4. The Daily Cashier Report is completed with all checks and credit card amounts totaled and reconciled with SAAS.
    5. The Daily Cashier Report, checks, credit card slips and or cash are brought to the Cashier’s Office.
    6. Correspondence relating to gifts of $250 or more will be attached to a photocopy of the check and forwarded to the Vice President of University Advancement.

    IV. In instances where the specific use is unclear or inappropriate, the available details about the gift should be brought to the immediate attention of the Vice President of University Advancement.
    V. For a gift of money to qualify as a charitable contribution the donor must be able to substantiate the amount by a cancelled check, receipt from the organization or reliable written records. The reliable record must be a bank record or a receipt from the charity specifying the amount and date of the contribution.
    VI. Gifts of $250 or more also require a “contemporaneous written acknowledgement” from the Office of the Vice President of University Advancement, typically a receipt.
    VII. Receipts are to be generated the same day the gift transaction is recorded. The receipts will then be verified for accuracy and any special handling, with the final receipts sent by first class mail generally within the next two business days. These receipts are signed by the Vice President of University Advancement.
    VIII. Other Acknowledgments: Donor Relations within the Office of the Vice President of University Advancement shall develop a standard protocol for determining when additional acknowledgement letters shall be sent by (or on behalf of) individuals other than the Vice President of University Advancement. Donors will receive an acknowledgement letter from the President if the gift is in the amount of $10,000 or more.
    IX. Upon receipt of a cash (currency) gift of $10,000 or more IRS Form 8300 (sample found in this manual) will be completed by the Advancement management and forwarded to the Internal Revenue Service. A second copy will accompany the deposit slip for the Bank.
    X. The Office of the Vice President of University Advancement will provide the donor a more detailed acknowledgement letter if the contribution is a “quid pro quo contribution” in excess of $75.00. A quid pro quo contribution is payment made partly as a contribution and partly for goods or services provided to the donor by Adelphi University. An example of a quid pro quo contribution occurs when a donor gives the Office the Vice President of University Advancement $100.00 for a concert ticket valued at $40.00. In this example, $60.00 would be deductible. Because the donor’s payment (quid pro quo contribution) exceeds $75.00, the disclosure statement must be furnished, even though the deductible amount does not exceed $75.00. In compliance with regulations in the Pension Protection Act of 2006, Adelphi University will furnish a written disclosure statement for all contributions.
    XI. A charitable contribution made with a credit card is deductible in the year the charge rather than in the year the donor actually pays it. Tax theory is that once the charge is made, Adelphi University has full rights to the donated money.


    Definitions

    This policy does not have definitions associated with it at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.


    Forms

    This policy does not have forms associated with it at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.


    Related Information

    This policy does not have related information at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.


    Contacts                                                         

    Salim Amin
    516.877.3472
    amin@adelphi.edu


    Document History

    • Last Reviewed Date: 10.29.17
    • Last Revised Date: 11.30.17
    • Policy Origination Date: Date Unknown     

    Who Approved This Policy

    Brady Crook, Sal Amin

     

    Schools/Departments:

  • Office of University Advancement
  • Categories:

  • Fundraising
  •  
     
     
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