DIXIE STATE COLLEGE OF UTAH

POLICIES AND PROCEDURES MANUAL


Section: 7-Institutional Advancement

Policy No: 15

Approved: 9/26/96
Revised: 05/06/05

Policy: ACCEPTANCE OF GIFTS

7-15 ACCEPTANCE OF GIFTS

15.1 PURPOSE

To define the limits of gifts that can be accepted by the College and to outline the procedures for accepting appropriate gifts and gifts-in-kind.

15.2 POLICY

15.2.1 Cash gifts and gifts-in-kind immediately convertible to cash will be accepted, receipted and acknowledged by the Office of Institutional Advancement on behalf of the Dixie State College.

15.2.2 Some donors may choose to make gifts to the Dixie State College Foundation.

15.2.2.1 The Dixie State College Foundation is a 501(c)(3) organization that exists for the support of education.

15.2.2.2 The foundation is composed of a Board of Directors (up to 25 in number) and is presided over by a president, two vice-presidents and a secretary/treasurer.

15.2.2.3 The foundation acts and is governed totally independent of the college and is its own clearing house for gifts in kind or cash gifts made directly to it.

15.2.2.3.1 Such gifts are accounted for by the foundation and not by the Office of Institutional Advancement.

15.2.2.4 The college president can from time to time make requests of the foundation, but it is totally at the discretion of that board as to whether the request is honored.

15.2.3 Gifts-in-kind, not immediately convertible to cash, must have the approval of the Institutional Advancement Committee before they can be accepted by the Office of Institutional Advancement on behalf of the College. These gifts to the college may include:

15.2.3.1 Gifts of real property or an interest therein

15.2.3.2 Gifts of undivided interests or future interest

15.2.3.3 Gift sales or gifts subject to any encumbrance

15.2.3.4 Gifts of tangible personal property such as paintings, sculpture, furniture, other works of art, or collections of such, if made on the condition or expectation that the items will be permanently exhibited, or that the collections will be maintained and shown as such

15.2.3.5 Gifts of tangible personal property such as books, furniture, and works of art made on the condition, understanding, or expectation that the items will be loaned back to the donor or an individual designated by the donor for any period of time

15.2.3.6 Gifts that, because of their unusual nature, raise questions as to whether they are within the role and scope of the college

15.2.3.7 Gifts conditioned upon the naming of a building, auditorium, laboratory, classroom, library, or any other facility or area of the college or of a college related program. Proposed gifts with such stipulations, if approved by the Institutional Advancement Office, normally must also be approved in writing by the President before they can be accepted

15.2.4 Gifts, whether donated or purchased, will not be capitalized if the gift meets all of the following conditions:

1. The gift is held for public exhibition, education, or research in furtherance of public service, rather than financial gain.

2. The gift is protected, kept unencumbered, cared for, and preserved.

3. If sold, the proceeds from the sales of the collection item are required to be used to acquire other items for collections.

If gifts do not meet the above conditions, then they will be capitalized according to Policy 6-3, Equipment Inventory Control Systems Policy.

15.2.5 Proposed gifts that require college expenditures beyond the gift are held to be unacceptable except in cases specifically approved by the Vice President Institutional Advancement and the President.