Printed on: 05/20/2018. Please go to http://policy.umn.edu for the most current version of the Policy or related document.

ADMINISTRATIVE PROCEDURE

Processing Gifts at the Foundations

Accepting and Approving Gifts

The appropriate Foundation must approve all gifts. The Board of Regents may require further approval.

  1. The University and Foundations will NOT accept:
    1. Gifts that obligate them to break the law or other University policies.
    2. Gifts that conflict with federal and state tax regulations
    3. Gifts that are directed to a specific faculty member, staff member, or student.
    4. Gifts with terms, which inhibit the Foundations or University from seeking other gifts.
    5. Gifts that expose the University to potential liabilities (e.g. environmental).
    6. Real estate subject to debt exceeding 50% of its value.
  2. The appropriate Foundation will review the gift to ensure it meets the University’s criteria and determine if further approvals or appraisals are needed.
    1. The Foundations may require appraisals on non-cash gifts and must have appraisals that are accurate, reasonable and certifiable.
    2. Gifts of real estate must:
        1. have an environmental evaluation of the donated property
        2. be approved by the Real Estate Office (if gifts of real estate to the University)
        3. be approved by the appropriate Foundation (if the real estate is given to a particular Foundation)
  3. The Foundations will flag gifts that fall outside of the criteria specified above, and conduct a follow-up with the department to determine next steps.

Is it a gift?

University of Minnesota Foundation accepts gifts for all campuses, colleges, and units. Gifts designated for the Minnesota Landscape Arboretum should be directed to the Minnesota Landscape Arboretum Foundation.

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

The Foundations follow gift guidelines as established by the Council for Support and Advancement of Education (CASE).  Their standard gift definition is as follows: “Gift: a contribution received by an institution for either unrestricted or restricted use in the furtherance of the institution for which it has made no commitment of resources or services other than, possibly, committing to use the gift as the donor specifies.”

When dealing with grants or sponsorships the donor may have a charitable intent but the terms of the grant or sponsorship may make it not eligible for the appropriate Foundation to accept and issue a charitable gift receipt.  For grants, please consult the Gift, Grant or External Sales Classification Group as noted in the contact section of this policy.  For sponsorships, please consult the Classifying and Recording Sponsorships for University-Hosted Events/Activities Policy.

Submitting Gifts to the University of Minnesota Foundation

If the gift is a check, credit card or pledge:

  1. Complete an online Gift Transmittal (*requires access to DMS)
  2. Attach check and appropriate supporting documentation to the transmittal (New Gift/Pledge Form, 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 
    PO Box 860266 
    Minneapolis, MN 55486-0266

  5. All checks, money orders or electronic transfers should be made payable to the University of Minnesota Foundation. DO NOT ENDORSE CHECKS or hold them for more than 24 hours.
  6. Avoid accepting currency.If it is necessary to accept currency, it should be hand delivered to the University of Minnesota Foundation for processing.

    *If you do not have access to DMS, go to the University of Minnesota Foundation website and complete the access request form or contact the University of Minnesota Foundation at 612-624-3333.

If the gift is securities, real estate, personal property, or an electronic transfer contact the University of Minnesota Foundation at 612-624-3333. It is important to do this immediately due to fluctuations or sudden changes in the value of securities and real estate.

Submitting Gifts and Commitments to the Minnesota Landscape Arboretum Foundation

If the gift is a check, credit card or pledge:

  1. Attach check and appropriate supporting documentation to the transmittal (New Gift/Pledge Form, Statement of Donor Intent, envelopes, etc.).
  2. Ensure that the donor's intentions are recorded on the transmittal or included in an attached letter.
  3. Send all documents to:

    Minnesota Landscape Arboretum Foundation 
    PO Box 860082
    Minneapolis, MN 55486-0082

  4. All checks, money orders or electronic transfers should be made payable to the Minnesota Landscape Arboretum Foundation. DO NOT ENDORSE CHECKS or hold them for more than 24 hours.
  5. Avoid accepting currency.If it is necessary to accept currency, it should be hand delivered to the Minnesota Landscape Arboretum Foundation for processing.

If the gift is securities, real estate, personal property, or an electronic transfer contact the Minnesota Landscape Arboretum Foundation at 612-301-1433. It is important to do this immediately due to fluctuations or sudden changes in the value of securities and real estate.

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