Gift Acceptance Policy

Policy Section
Gift Administration

Effective Date
March 1, 2009
Last Updated
April 4, 2023
Responsible Executive
Vice President for Advancement
Responsible Office
University Advancement
Contacts
Nancy Kalmikoff
Director of Alumni and Donor Records
(609) 258-3307
Kerstin Larsen
Assistant Vice President of Development
(609) 258-9289

Summary

This policy summarizes the documentation, signatories and processes required for Princeton University to officially accept a gift or bequest.

II. Who is Affected by this Policy

N/A

III. Definitions

N/A

IV. Policy

The acceptance of a gift or bequest has financial and legal consequences. This policy addresses the University‚Äôs gift acceptance policy. Different rules may apply when a gift is accepted for federal income tax purposes.  For example, once accepted, a gift is irrevocable and gift restrictions must be strictly observed. Given these consequences, there are steps that must be followed in order for a gift or bequest to be officially accepted by the University. These steps include proper documentation being signed by the appropriate signatories and the recording of the gift by Alumni and Donor Records. Gifts that have been solicited by Annual Giving are an exception to this rule. See Gift Documentation and Authorization Chart below.  The chart below summarizes the documentation required and the individuals authorized to sign for a variety of gifts and bequests. 

Gift Documentation and Authorization Chart

If gifts are received by personnel in academic/administrative departments other than the Offices of Alumni and Donor Records or Corporate Engagement and Foundation Relations, the department personnel are considered custodians of the Funds. Gifts should be forwarded to either the Office of Alumni and Donor Records or the Office of Corporate Engagement and Foundation Relations. See policy entitled: Gift Transmittal.

Procedures

N/A

Revision Log

04/04/2023 - Updated gift acceptance chart.

10/4/19 - Updated policy name for transmitted gifts.

8/10/18 - Updated to reflect post-Prime language.

1/19/12 - No changes. Moved to Finance Policy Library from Gift Administration Site.