Financial Services Policy 10.1 – Gift Receipting and Reporting

Development Services Office

An important responsibility of the Development Services Office is to receipt and document all gifts received by the University. When a gift to The University of North Carolina at Greensboro is received, the Development Services Office prepares a receipt for the gift portion of monies received and remits a copy to the donor. The OFFICIAL RECEIPT acknowledges the amount of the gift and date received.

Gifts made either to the University or to the affiliated organizations of the University are spent according to restrictions placed upon the gifts by the donors. Gifts received that are designated as unrestricted in nature are disbursed in accordance with State and University Administrative Policies and Procedures.

Schools, Departments, and Other Organizations

Gifts Received For The University

In order for a department or organization to directly receive gifts to the University of North Carolina at Greensboro, official approval must be given by the Development Services Office and the Office of Business Affairs. These approved departments and organizations are authorized to directly receive gifts and deposit these monies to existing university accounts. For those departments or organizations that have been approved to directly receive gifts, written authorization and procedures must be obtained from the Development Services Office and the Business Affairs Office. All gifts must be recorded and receipted in the Development Services Office.

Receiving Gifts

Upon receipt of a gift, the collecting school, department, or organization should neither prepare a receipt nor remit a receipt to the donor. As previously stated, the Development Services Office is responsible for issuing the OFFICIAL RECEIPT. However, in certain cases, the school, department, or organization may deem it appropriate or necessary to prepare a receipt (i.e., cash monies are received). Under these circumstances, the collecting department must write “DUPLICATE RECEIPT” across the face of the receipt in large letters.

Establishing New Funds

If the receipt of a gift necessitates the creation of a new University Gift Fund, the collecting school, department, or organization should submit a written request to the Development Services Office, stating the name of the fund and a brief description of the purpose of the fund. The Development Services Office is responsible for submitting all requests for new gift funds, using form FIN-04, “Request for Establishment of Fund.”

Plans and efforts to solicit gifts or funds should be approved in advance by the Development Office as stated previously. In cases which require a new account, the Development Office will submit a written request to the Development Services Office to establish the new fund.

Gifts Received For The University Affiliated Organizations

In all cases, monies designated by the donor for the University affiliated organizations (The UNCG Excellence Foundation, Inc., The University of North Carolina at Greensboro Human Environmental Sciences Foundation, Inc., The Weatherspoon Gallery Association, and the Weatherspoon Arts Foundation) must be directly deposited by the Development Services Office.