Gift Acceptance

EFFECTIVE DATE: March 1, 2009 |LAST UPDATED: June 5, 2014 | Policy Section: gift-administration

Responsible Executive

Vice President for Development

Responsible Office

Development Office

Contacts

Nancy Kalmikoff, director of alumni and donor records, kalmikoff@princeton.edu or (609) 258-3307

Kerstin Larsen, director of development, klarsen@princeton.edu or (609) 258-9289

I. Policy StatementBACK TO TOP

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 PolicyBACK TO TOP

III. Definitions

IV. PolicyBACK TO TOP

The acceptance of a gift or bequest has financial and legal consequences. This policy addresses the University’s 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 Solicited Gifts 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 and Foundation Relations, the department personnel are considered custodians of the funds. Funds should be forwarded to either the Office of Alumni and Donor Records or the Office of Corporate and Foundation Relations. See policy entitled: Transmittal of Gifts, Grants and Pledges Received Outside of the Development Office or the Office of Corporate and Foundation Relations.


 

V. Procedures BACK TO TOP

VI. Forms BACK TO TOP

VII. Contact Roles and Responsibilities BACK TO TOP

VIII. Update Log BACK TO TOP

1/19/2012

No changes. Moved to Finance Policy LIbrary from Gift Administration Site.


 

CONTACT US

finance@princeton.edu
Tel (609) 258-3080
Fax (609) 258-0442

Princeton University
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Tel (609) 258-3080
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