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POLICY NOTE:

The Regents have designated the approved foundations as the primary recipient for gifts to the University. Exceptions to this policy can only be approved by the appropriate foundation. If there is a question as to which foundation is appropriate, call the University of Minnesota Foundation.

Is it a gift?

Development officers, in departments, colleges or foundations, are authorized to accept and record outright cash gifts which bear no unusual restrictions or form. They must, however, send the gift to the appropriate foundation for processing.

The differences between a gift and a grant can sometimes be subtle but each is processed differently. Grants and contracts are processed by SPA while gifts are processed by the appropriate foundation and reported by the University of Minnesota Foundation. See the Definitions section for more information about the differences between gifts, grants and contracts. When SPA receives a grant for review, the reviewer will process it according to SPA guidelines if it is a grant. If it is more appropriately classified as a gift, SPA will forward it to the appropriate foundation within three working days of receipt.

What kind of gift?

Gifts can be given to the University in the form of cash (including memorial, honorarium and matching gifts), securities, real estate, equipment, supplies, collectibles, personal property, services, intangibles, deferred trusts & annuities, pledges, etc.

All checks, money orders or transferals should be made out to the appropriate foundation. Avoid accepting currency. If it is necessary to accept currency, provide the donor with a receipt and contact the appropriate recognized foundation.

University of Minnesota Foundation accepts gifts for all colleges. Gifts designated for the 4H Foundation, Minnesota Landscape Arboretum and the Minnesota Medical Foundation should be directed appropriately.

Submitting Gifts to the University of Minnesota Foundation

1. Complete an online Gift Transmittal (*requires access to DMS)
2. Attach check and appropriate supporting documentation to the transmittal. (New Pledge, Statement of Donor Intent, envelopes etc.).
3. Ensure that the donor's intentions are recorded on the transmittal or included in an attached letter.
4. Follow the instructions on the transmittal, and send all documents to:

   University of Minnesota Foundation CM-3854
   PO Box 70870
   Saint Paul, MN 55170-3854

5. Checks should be payable to the University of Minnesota Foundation. DO NOT ENDORSE CHECKS.

*If you do not have access to DMS, go to http://www.foundation.umn.edu/login.html and complete the access request form.

Recording Cash to Other Foundations

Special transmittal forms have been developed for both cash and non-cash gifts. When completed, these forms contain the information needed to process a gift.

If the gift is cash:

1. Compile information on the donor, gift and donor's intended use.
2. Attach appropriate forms and supporting documentation to the gift
3. Ensure that the donor's intentions are legibly recorded or included in an attached letter.
4. Retain a copy of all documents, including checks, for your records.
5. Send the documents and check or money order, to the appropriate foundation. Check should be payable to the appropriate Foundation. DO NOT ENDORSE CHECKS.

Recording Non Cash to Other Foundations

If the gift is securities, real estate or personal property:

1. Contact the appropriate foundation.

It is important to do this immediately due to fluctuations or sudden changes in the value of securities and real estate.

Approvals

Gifts must be approved by the appropriate recognized foundation. Further approval may be required by the Board of Regents.

The University and the Foundations will NOT accept:

1. Gifts which obligate them to break the law or other University policies.
2. Gifts which limit, beyond a general description of the subject area, the research or work of a faculty member or student.
3. Gifts which inhibit them from seeking gifts from other donors, be they similar or different, foreign or domestic.
4. Gifts that expose the University to potential environmental liability.
5. Real estate subject to debt exceeding 50% of its value.

Donative Intent must be the primary motive for gift giving, that is, the intention to give something of value for the betterment of the University.

Appraisals of non-cash gifts must be accurate, reasonable and certifiable. Gift transmittals that lack necessary attachments may be held up for approval.

All gifts of real estate to the University must be approved by the Real Estate Office. Before approval, the Real Estate Office must obtain an environmental evaluation of the donated property. Gifts of real estate to a foundation are approved by that foundation. When securities that are NOT publicly traded are offered to the University as a gift, the Foundation VP for Operations must approve.