Gift Acceptance Policy
Purpose of Guidelines
Acceptance of any contribution, gift or grant is at the discretion of the College. It is the policy of the College to accept gifts of cash, securities and property to be used for the greatest good of the College. Gifts of cash may be made directly to the College, and gifts of securities and property should be made in conjunction with the Business Office. With respect to anonymous gifts, all information about the donor will only be given to those staff members with a need to know. Please contact the Development Office for specific instructions.
Gifts of Cash
All cash gifts can be made electronically, in person, or through a delivery service. All checks should be made payable to Urshan College. The College will respect the intent of the donor relating to gifts for restricted purposes and those relating to the desire to remain anonymous.
Gifts of Securities
Stocks, bonds, notes or other instruments for which value can be determined in the financial market place should be made payable to the College. Donors are encouraged to have a conversation with the Development Office to determine the most advantageous method of giving donations of securities. Internal Revenue Service guidelines are followed in establishing the value of donated securities.
Gifts of Real Estate
Gifts of real estate are welcomed by the College. It is the donor’s responsibility for obtaining appraisals, EPA studies, etc., for gifts of property except in such cases where the College will assume that responsibility. Gifts must be reviewed by the Development Office and the President and other selected counsel for environmental and economic impact, and other issues before accepting gifts of real estate. The College Board has final approval for all gifts of real estate.
Gifts of Personal Property
Gifts of personal property (i.e. antiques, works of art, collections, etc.) are all welcomed by the College with approval from the Development Office. The donor is responsible for securing appraisals on such property according to Internal Revenue Service guidelines. The Board of Trustees has final approval of all gifts.
Gifts of Equipment
Gifts of equipment are encouraged by the College. However, when such equipment requires additional and/or ongoing maintenance that is not budgeted, prior approval must be received from the Business Office and the receiving area.
Challenge Gifts or Pledges
Challenge gifts or pledges requiring matching funds by the School are welcome but the gifts must receive prior approval from the Development Office.
Gifts In Kind
Gifts in kind (gifts of goods and services) are welcomed and will be accepted at the discretion of the College and the receiving area. Please contact the Development Office for specific instructions.
The College reserves the right to treat each gift on an individual basis, and thereby reserves the right to accept, reject, or modify any agreement and/or gift. The College will refrain from providing advice about the tax or other treatment of gifts and will encourage donors to seek guidance from professional advisers. The College will provide acknowledgements to donors meeting IRS substantiation requirements for all gifts. However, except for gifts of cash and publicly traded securities, no value shall be ascribed to any receipt or other form of substantiation of a gift received by the College.