Policy Gifts by dandanhuanghuang


									                            1.4.14 GIFT & PLEDGE PROCESSING POLICY

Effective 09/14/04                                                                  Revised 04/13/11

To define the organizational responsibility for recording and receipting private gifts, pledges and
planned gifts and to insure timely deposits of donations into University of Tennessee (UT) / University of
Tennessee Foundation (UTFI) gift accounts.

To streamline the gift processing workflow, establish guidelines and data standards, and improve
productivity to insure data consistency, integrity and quality for data entry of all gifts and pledges.

All private gifts, pledges and planned gifts are credited in compliance with the donors’ wishes. The Office
of Advancement Services operates in accordance with the guidelines established by the UTFI Fiscal
Policy and Procedures, CASE (Council for Advancement and Support of Education) and NACUBO
(National Association of College and University Business Officers).

Any UT/UTFI employee receiving gifts or pledges should promptly deliver all contributions (cash, checks,
and credit card information), pledges and correspondence (including envelopes) relating to private gifts
along with a Gift Transmittal Form to Advancement Services. All gifts are recorded in ANDI and deposits
are made by Advancement Services Gift Records Offices on a daily basis. Official receipts for all gifts are
generated and distributed daily. The departments generate additional acknowledgements or thank you

In accordance with UTFI Fiscal Policies and Procedures, donations should not be held in departments or
administrative offices. A gift suspense/holding account is utilized for gifts awaiting donor designation or
new accounts. This insures that the donor promptly receives a gift receipt. Each campus has its own gift
suspense account. For reporting purposes, it is important to use the appropriate campus gift suspense

Calendar year-end gifts must comply with IRS regulations. Each fall, the Executive Vice President and
Chief Operating Officer (COO) will issue guidelines for compliance taking into account any calendar
peculiarities (e.g., what to do if December 31 falls on a Sunday).

Fiscal year-end gifts: In order to meet UT/UTFI deadlines for closing the books for each fiscal year, the
COO will establish additional deadlines. Credit Card gifts must be received in Advancement Services Gift
Records Offices by 4:30 pm on June 30th (or last business day) of each fiscal year. New fiscal year gifts
will not be posted until the fiscal year-end reports have been run.

Private gifts, pledges and planned gifts are recorded in ANDI through a centralized process within
Advancement Services. Gifts are interfaced to the UT/UTFI financial system (IRIS) and recorded to the
departmental gift account(s) based on the purpose designated by the donor.

Allocations are determined by donor’s specification and giving history. Undesignated gifts/pledges are
allocated to the unrestricted account for each campus.

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It is of greater benefit to UT/UTFI to build up endowment accounts. Endowment accounts consist of
money that UT/UTFI invests. This invested money generates interest, which is often transferred to the
scholarship/expenditure accounts. The interest earned benefits the UT/UTFI for several years. Money
deposited into scholarship/expenditure accounts does not earn interest and offers a short-term benefit

See Policy and Procedures for Planned Giving.

For questions regarding this policy, contact the Advancement Services help desk at (865) 974-4153 or
email ANDIHelp@tennessee.edu

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                       1.4.14 GIFT & PLEDGE PROCESSING PROCEDURES

Effective 09/14/04                                                                 Revised 04/13/11

All gifts in the form of cash/checks/credit cards are promptly delivered to Advancement Services Gift
Records Offices along with a Gift Transmittal Form and any correspondence (including envelopes).

Some donations are deposited directly into gift accounts by other departments. Copies of such deposits
must be delivered to Advancement Services Gift Records Offices in order for the donor(s) to receive
recognition for their gifts. These gifts are processed as “Deposit by Others” transactions in ANDI.

Payroll deductions are available for University employees through the Payroll Office. See Policy and
Procedures for Payroll Deductions.


All checks must be endorsed upon receipt.

Make sure checks are made out to UT, UT Foundation or a UT/UTFI account. Checks should be signed
and the numeric dollar amount should match the written dollar amount.

Checks processed in the Knoxville Advancement Services Office are electronically scanned and
transmitted to the bank. Original checks with account information blacked out are filed with the back-

Copy a check if any of the following apply:

All Campuses:
       • MATCHING GIFT FORM RECEIVED (Attach copy to original M/G form to be given to the
           Matching Gift Processor for your campus.)
           should be put with the original gift acceptance letter to be signed by the appropriate Gift
           Records Office personnel.) Examples of this type of foundation are the Greater Community
           Foundations and East Tennessee Foundation.
All Campuses with the exception of Knoxville:
       • $2,500.00 or ABOVE
       • NO BACKUP RECEIVED (Envelopes do not qualify as backup)


Knoxville Campus: Cash cannot be electronically scanned and transmitted to the bank.
Cash is sealed in a deposit bag along with a deposit slip and sent to the bank via the Central Cashier’s
Office on each campus.

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UTFI will only accept the following credit cards: Discover, MasterCard and Visa. Credit card payments
will be processed (authorized) through each campus’s credit card machine or Virtual Merchant (Elavon)
before entering the gift/pledge payment in ANDI.

Credit card donations are processed in the same manner as cash/check donations. If a credit card
charge request is received by phone, fill out a Telephone Credit Card Payment Form while you are on
the phone with the donor.
NOTE: In addition to credit card information, it is necessary to record donor’s daytime telephone
number, your name as being the person who received the call, and the date/time of the call.


A pledge is a commitment by an entity to give within a specific time frame. Each pledge must be
accompanied by documentation that includes donor’s signature, donor(s) information, amount,
allocation(s), payment schedule and any special instructions. Based on auditors’ recommendation,
verbal notification is not sufficient. Notification can be accepted by mail, alumni website, athletic
website, email, letter/memo, or fax. See Policy and Procedures for Pledges.

Each pledge, greater than $25,000.00, requires an executed gift agreement. If a gift agreement is
necessary, contact the Prospect Management Office. The only exception to this procedure is for
Athletics “Seat License” pledges. These pledges require the appropriate “Letter of Intent” form.


1. In order to qualify for posting in the calendar year:

         a. Gifts received by mail must be postmarked on or before December 31st (the date on the
            check is irrelevant). Attach the envelope, check (or stock certificate), and any
            correspondence to the Gift Transmittal Form and deliver to the Gift Records Office at each
            campus. A postmarked envelope must accompany stock certificates.
         b. Hand-delivered gifts (or credit card gifts called in by the donor) received on or before
            December 31st must be received by the Gift Records Office at each campus on or before the
            31st. If delivery by the 31st is not possible, then the person receiving the gift must sign a
            short memo indicating date, time and place the gift was received. This memo must be
            attached to the check and will not work with credit card transactions.
         c. Gift Records staff at each campus will file the postmarked envelope or hand delivery memo
            in the batch file, stapled to the checks or other gift documents, for the auditors.

2. Please do not compromise the integrity of the Gift Records staff by asking them to post a gift with a
   December 31st date in the absence of appropriate documentation.

3. When posting December 31st gifts in January the Gift Records staff at each campus must change the
   default date of receipt and the date of record to December 31st.

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