University Executive Directive #15-41 - Receipt, Acceptance, Acknowledgement and Administration of Gifts

Objective:

This directive provides policies and guidelines for the receipt, acceptance, acknowledgement, recording, administration, investment, and reporting of gifts (donations) received by San Francisco State University (the "University") or any of its auxiliary organizations. 

Directive:

A.  Receipt, Acceptance, and Acknowledgment of Gifts 

1. All cash and non-cash gifts are to be received, accepted, and acknowledged by the University Advancement division. Once received, it is the policy of the University that such gifts shall be administered and managed by either The University Corporation, San Francisco State ("UCorp") or the San Francisco State University Foundation ("Foundation") except in those special cases where the donor, for clearly specified reasons, requests that the gift be administered and managed by the University. In approaching donors, the Office of University Development is obligated to inform them about this arrangement.
2. It is the policy of University Advancement that all gifts valued at $1,000 or more shall require a Gift Acceptance Form (GAF) signed by an authorized individual.
3. Individuals authorized to accept gifts on behalf of University Advancement are as follows:
   1. Directors of Development may accept gifts between $1,000 and $4,999.
   2. Directors of Planned Giving may accept planned gifts of any amount.
   3. All gifts valued at $5,000 or more must be accepted by either the Vice President for University Advancement or the Associate Vice President of Development. This includes all gifts of securities, gifts to auxiliaries, planned gifts, and gifts in kind.
   4. The Chief of Operations for University Advancement may accept all gifts valued at $5,000 or more in the absence of the Vice President for University Advancement and the Associate Vice President of Development.
4. The batch proof report from the Advance database shall be used in lieu of a GAF to fulfill gift documentation requirements for donations under $1,000 that are received and processed daily.
5. It is against University policy for any employee to deposit any gifts intended for the University in off-campus accounts. Such action is considered a misappropriation of University resources if the intent of the donor was to support the University or any of its activities and may be subject to disciplinary and/or legal action. 

B. Recording, Administration, Investment, and Reporting of Gifts 

1. All gifts, including non-cash gifts, must be recorded with UCorp, the Foundation, or the business office of the University, as appropriate.
2. Gifts administered by UCorp, the Foundation, or the University shall be invested in an appropriate manner consistent with the donor's intent and applicable investment policies.
3. For all gifts, UCorp, the Foundation, or the University are responsible for preparing all appropriate reports as required by rules, regulations, law, and the donor's gift document.
4. The donor is entirely responsible for any taxes and is expected to obtain necessary professional assistance. 

C. Externally Managed Gifts

Donors may elect to create irrevocable funds designated for San Francisco State University and have an outside financial advisor manage the fund. In order for these funds to be considered an asset of the University, written evidence of the fund and its irrevocable nature must be provided to the University by the donor or the donor's authorized representative.

[Archived University Executive Directive #15-41 - Receipt, Acceptance, Acknowledgement and Administration of Gifts for reference]