To: University Business Managers
From: Candace Clark, Director of Gift Services
Date: July 7, 2014
As we begin a new fiscal year, I want to remind all schools, units and departments that under the Special Situations Section of University Policy 32 – General Receipts and Deposits policy 302 (https://policies.unc.edu/TDClient/2833/Portal/KB/ArticleDet?ID=131485). It states that all gifts (private, charitable contributions from individuals or organizations) must be deposited through the Office of University Development and should not be directed through the Cashier’s Office. University-related foundations may elect to deposit funds through departmental deposit but in most cases, each of these foundations has a service agreement with the Office of University Development to deposit their gift revenue as well.
Policy on Gifts: Finance Division Policy 302 – Only gifts from University-related foundations may be deposited through the Cashier’s Office. All other gifts must be deposited through the Office of University Development.
The Office of University Development is charged with providing donors with official tax receipts for gifts to the University. A receipt provided by any other department (other than a related foundation) may be disallowed by the IRS, thereby jeopardizing the donor’s charitable deduction. Additionally, donors whose gifts are not entered into the University-wide alumni database (DAVIE) are not included for stewardship or recognition.
Gifts, either in the form of cash, checks or credit cards, should be sent to the Office of University Development accompanied by a gift transmittal found at the link below as well as attached. Most schools have been provided a locked bag bank for use in securely transporting gifts to our office.
If you have questions on how to properly handle gifts to your department, please do not hesitate to contact me directly or your school or foundation’s own development/external affairs office.
Many thanks for helping to ensure that our donors and their gifts to the University are managed and stewarded properly.