Philanthropic activities and initiatives play a critical role in the fulfillment of the University’s teaching, research, and service mission. As such, it is important that the University have a gift acceptance policy that encourages donors, faculty, staff, and others to contribute to the University of North Carolina at Greensboro (“UNC Greensboro” or “University”), while also assuring that gifts utilized for the priorities of the University are managed consistent with legal and ethical standards and obligations, and maximize the University’s ability to seek and utilize gifts for the highest and best use.
This policy defines the considerations and processes through which the University assesses the merits of potential gifts. It describes and guides the outright and planned giving programs of the University and that of the various Associated Entities of the University and applies to funds raised on behalf of the University and by such Associated Entities.
This policy applies to The University of North Carolina at Greensboro and its Associated Entities.
Associated Entity: An “Associated Entity” is a private, non-profit organization, which supports the mission, goals, and objectives of UNC Greensboro and may accept gifts from private sources for the benefit of the University. In order to maintain its status and have the authority to fundraise, the University and each entity must enter into an agreement which is reviewed periodically. These entities are required to follow UNC System Regulation 600.2.5.2[R], “Required Elements of University-Associated Entity Relationship.”
Gift: A “gift” is a contribution received by UNCG for either unrestricted or restricted use in the furtherance of UNCG’s mission and for which UNCG has made no commitment of resources or services other than, possibly, committing to use the gift as the donor specifies. The contribution is a nonreciprocal transfer in that there is no implicit or explicit statement of exchange, purchase of services, or provision of exclusive information. If the donor receives benefits in return for the contribution, the true value of the gift is the amount over and above the fair market value of any benefits received.
Gifts-in-Kind: “Gifts-in-kind” are generally defined as non-cash donations of materials or long-lived assets, other than real and personal property. Gifts of materials or long-lived assets that are directly related to the mission of UNCG should be reported at fair market value. For purposes of this policy, all references to gifts-in-kind specifically exclude publicly traded securities.
Planned Gift: A “planned gift” is a type of charitable donation, requiring some planning, that is popular because it can provide valuable tax benefits and/or income for life. The term often refers to: (a) the process of making a charitable gift of estate assets to UNCG; (b) a donation that requires consideration and planning in light of the donor’s overall estate plan; or (c) part of an individual’s major gift strategy, generally involving a bequest or trust intended as a future commitment from which UNCG will benefit at some point in the future.
Pledge: “Pledges” are documented commitments to make future gifts. Only the entity exercising legal control over the assets can make a pledge. An individual cannot make a pledge that includes anticipating matching gifts from an employer or some other source. Nor can an individual commit funds that may come from a donor-advised fund or community foundation.
Qualified Appraisal: A “qualified appraisal” is an appraisal document that is created, signed, and dated by a qualified appraiser and meets the requirements set forth by the Internal Revenue Service (IRS). A qualified appraisal is made no sooner than 60 days before a piece of property is donated. The document is used to notify the IRS that the value of a piece of property is in excess of $5,000.
It is the policy of the University to encourage donors to direct all gifts other than real property or tangible personal property to the UNCG Excellence Foundation or other Associated Entities. If a donor fails to direct a gift to the UNCG Excellence Foundation or another Associated Entity, North Carolina law [GS 116-36(j)] provides that any gift or devise of real or personal property to the University is a gift to the Endowment Fund of the University and will be managed by the Board of Trustees of the Endowment Fund of the University. Accordingly, a gift so donated is not held by a single department, college, or other administrative unit, but by the University or the Endowment Board.
This policy applies to Associated Entities, in which case references to the “University” as the recipient of the gift and as the entity taking certain action with respect to the gift, should be interpreted to mean the respective Associated Entity. The fundraising and development activities of the Associated Entities shall be conducted subject to this Policy and coordinated with the Division of University Advancement.
As outlined below, all gifts to the University must be coordinated through the Division of University Advancement and in accordance with this Policy and the UNC Greensboro Procedures for Gift Acceptance.
5.Acceptance of Gifts
The University officials designated to accept gifts on behalf of the University are the Vice Chancellor for University Advancement and the Vice Chancellor for Finance and Administration, with advice as needed by General Counsel. The Vice Chancellors’ acceptance of any gift is subject to applicable policies and guidelines established by the University, the Board of Trustees of UNC Greensboro, the Board of Governors of The University of North Carolina, and the Board of Trustees of the Endowment Fund of The University of North Carolina at Greensboro.
The Vice Chancellors shall consult with the Chancellor before accepting, on behalf of the University or any other Associated Entity, gifts exceeding $1 million.
The Vice Chancellor for University Advancement and the Vice Chancellor for Finance and Administration should receive documentation for the following types of gifts in order to assess whether to accept the gift:
- all conditional pledges,
- requests for extended pledges for leadership gifts,
- all proposed gifts of real estate, regardless of value,
- any other exceptions to campaign counting policy,
- gifts in kind with a perceived value of $5K or more, or
- all gift agreements for gifts of $5M or more.
Acceptance of gifts will be reported to the Finance Committee of The UNCG Excellence Foundation, Inc. or other Associated Entities.
Unless the donor has expressly specified one or more restrictions on the use of a gift, all gifts shall be classified as unrestricted.
6.Coordination of Fundraising Activities
6.1Administrative Responsibility for Gift Acceptance Policy and Procedures
The Chancellor delegates overall responsibility for coordinating the efforts of all members of the University community, the management of day-to-day operations, and for assuring compliance with the requirements of this policy to the Vice Chancellor for University Advancement, who reports directly to the Chancellor.
The Vice Chancellor for University Advancement may adopt and maintain procedures for the acceptance of gifts to ensure that private gifts to the university are properly recorded and administered using appropriate internal controls and sound financial business practices; and to ensure that the acceptance and management of gifts are handled in compliance with external regulations and the university’s fiduciary obligations to donors. Such procedures must comply with applicable federal and state laws and be consistent with this policy and other applicable university policies.
6.2Authority to Solicit Gifts
6.2.1Division of University Advancement
Although advance approval for gift solicitation is required from the Division of University Advancement, all administrative units and all members of the University community are encouraged to identify and to assist in soliciting gifts from prospective donors. In order to ensure that solicitations are made in a manner that will best serve the interests of the University as a whole and will not conflict with other solicitations being conducted or planned by the University, the Division of University Advancement must review all plans for gift solicitations prior to implementation and acceptance.
6.2.2Positions with Primary Job Duties that Include Fundraising Responsibilities
- All professional staff positions with primary job duties that include fundraising responsibilities report to the Vice Chancellor for University Advancement or designee. Fundraising responsibilities include identifying, cultivating, and soliciting new sources of philanthropic support for the University or its Associated Entities; developing and maintaining relationships with current donors; and organizing and coordinating fundraising events.
- Exceptions to this section may be granted by the Vice Chancellor for University Advancement in unusual circumstances and must be requested in writing by the hiring manager prior to posting any vacancy with primary job duties that include fundraising responsibilities. The Division of University Advancement encourages colleges and units to assist with identification and stewardship activities in coordination with University Advancement.
- Questions or disputes as to whether a proposed or existing staff position has primary job duties that include fundraising responsibilities will be referred to the Vice Chancellor for University Advancement or designee for resolution. Positions with primary job duties that include fundraising responsibilities that are filled in a manner inconsistent with this policy, or positions that acquire primary job duties that include fundraising responsibilities after being filled, will be modified or reassigned in order to comply with this Policy.
UNC Greensboro cannot accept:
- Gifts that violate a federal, state, or other law or that would jeopardize the University’s tax-exempt status.
- Gifts with restrictions that involve unlawful discrimination based on race, religion, gender, age, national origin, disability, or any other basis prohibited by federal, state, and local laws and regulations. The University will not contravene its established policy of nondiscrimination and equal opportunity to accept a gift.
- Gifts that infringe upon the University’s control over its established policies and process for admissions, appointments, promotions, the conduct of teaching and research, the employment of faculty and staff, the construction of facilities, or any of its other activities.
- Gifts for which the potential donor requires that its purposes cannot be disclosed publicly.
- Gifts that are contingent upon raising “matching funds” by any formula unless circumstances merit a specific waiver of this restriction by the Vice Chancellor for University Advancement and the Vice Chancellor for Finance and Administration.
- Gifts to custodial funds. Custodial funds are funds held or generated for reimbursement of specific expenditures for activities such as student groups, study abroad programs, field trips, and other “flow-through” activities. These funds are held for others for which the University acts as custodian or fiscal agent on behalf of the payer.
- Pledges unaccompanied by a written pledge agreement outlining the terms of the pledge, including when the pledge will be fulfilled. Pledges made through an official telefund or call-center are exempted from this requirement.
- Gifts that provide a donor with goods or services or advertising of products or services within signage and/or with financial value in exchange for the donor’s gift, unless such value is fully disclosed in the time and manner as required under federal and state law and regulations.
The University reserves the right to reject or refuse:
- Any gift, funds, or property where there is not clear title to the donated assets. Such determinations shall be the sole and exclusive right of the University.
- Gifts that are too restrictive in purpose, that require expenditures beyond their resources, that compromise the academic freedom of the university community, or that may bring substantial disparagement to the university as determined by the Vice Chancellor for University Advancement and the Vice Chancellor for Finance and Administration.
Acceptance of a gift does not imply endorsement or approval by the University of the views, occupations, or activities of a donor.
The University and its Associated Entities will assess the financial desirability of receiving assets as private gifts from potential donors and determine whether to accept a gift as offered.
All gifts shall be recorded, submitted for deposit, and receipted by the Division of University Advancement.
Gifts that include proposals for naming University facilities and programs will be reviewed in accordance with the university Naming University Facilities and Units Policy.
When the university or UNCG Excellence Foundation receives a monetary gift from an estate where the donor has placed no restrictions on the gift in their will or other document(s), the following must happen:
- The gift will be split 75/25 between the UNCG General Endowment Fund or the UNCG Excellence Foundation General Endowment Fund, respectively, and their associated spending funds if the respective book value of these funds is less than $5M.
- The gift will be deposited in its entirety to the UNCG General Endowment Fund or the UNCG Excellence Foundation General Endowment Fund, respectively, if the respective book value of these funds is $5M or more.
8.2Restricted for Scholarships
When the university or UNCG Excellence Foundation receives a monetary gift from an estate where the only restriction placed by the donor, as clearly stated in their will or other document(s), is that the gift be used for scholarships, the following must happen:
- The gift will be split 75/25 between the UNCG Endowed Scholarship Fund or UNCG Excellence Foundation Endowed Scholarship Fund, respectively, and their associated spending funds if the respective book value of these funds is less than $5M.
- The gift will be deposited in its entirety to the UNCG Endowed Scholarship Fund or UNCG Excellence Foundation Endowed Scholarship Fund, respectively, if the respective book value of these funds is $5M or more.
The Division of University Advancement will, upon request, provide donors with general information on tax deductibility and IRS appraisal requirements for gifts-in-kind; nevertheless, such information shall not constitute legal advice.
University employees and representatives are prohibited from providing tax advice of any kind to any donor or potential donor.
Given the complex tax and legal issues related to the establishment of some gifts, donors should obtain, and shall be presumed to have obtained, competent, independent professional tax and/or financial advice prior to making a gift to the University.
10.Refunding of Gifts
If conditions agreed to as part of accepting a gift cannot or will not be met or if it is in the best interest of the University or Associated Entity to do so, the University or an Associated Entity in its sole discretion may determine that it is necessary to refund only the residual portion of a gift.
11.Compliance and Enforcement
University Advancement, in cooperation with other University and Associated Entity authorities and administrators, will enforce and promote compliance with, and establish standards, procedures, and protocols in support of this Policy.
12.4Contacts for Additional Information and Reporting
Responsible Administrator: Assistant Vice Chancellor for Advancement Operations, email@example.com, (336) 334-5920
Responsible Executive: Vice Chancellor for University Advancement