All departments are encouraged to solicit gifts for the University from the private sector as a means of obtaining financial resources to meet the needs of the University. To help ensure that departments are made aware of other solicitation efforts targeting the same potential donors, departments should notify the Director of Institutional Development of planned solicitations.
2. Receipt of Gifts
Upon receipt of gift checks from donors, departments must prepare a Gift Transmittal form to properly document the designation, purpose, account, and donor information. If the account is not known, the account field should be left blank for the Development Office or Fiscal Affairs Department to complete. Departments requiring assistance in completing the form should contact the Development Office. All gift checks, along with the Gift Transmittal Form and any relevant donor correspondence, should be hand delivered as quickly as possible (preferably the day of receipt) to the Development Office. The Development Office will log the gifts on the Daily Check Log Sheet, review the Gift Transmittal for proper completion, update the donor files and gift tracking system, and transmit the checks to the Fiscal Office as quickly as possible (preferably the same day).
3. Acknowledgment Letters
The Development Office will prepare donor acknowledgment letters for all gifts received and forward to the President's Office for signature and distribution.
4. Gift Records and Reporting
The Development Office will track all requisite gift and donor data for required reporting of gift information and will maintain permanent files on each donor. The Fiscal Office will deposit all gift funds into the appropriate account(s) and maintain all requisite fiscal records in FAMIS. The Development Office is responsible for preparing all required reports on gifts (including IRS Reports) for the University.
Departments should reconcile all gifts from their copies of source documents to their monthly FAMIS statements. Additionally, the Development Office will prepare monthly reconciliations of their gift tracking system to FAMIS.
6. In-Kind Gifts
In-kind (non-cash) gifts vary but include such items as books, equipment, livestock, and land. Departments notified of intended In-kind gifts must complete a Gift-In-Kind Information Form and submit it to the Director of Institutional Development. The Director of Institutional Development is responsible for obtaining the proper approval of all In-kind gifts and for preparing notifications of acceptance to donors. The Director of Institutional Development is responsible for providing requisite documentation of In-kind gifts to the Fiscal Office for proper recording of the gifts in FAMIS. [Note: Departments may not accept In-kind gifts without prior approval.] Disposal of In-kind gifts must be coordinated through the Development Office to ensure compliance with applicable IRS Regulations.
Acceptance of all cash gifts must be approved by the Director of Institutional Development or his/her designee. Acceptance of all In-kind gifts must be recommended by the receiving department and approved by the Director of Institutional Development, the relevant dean/director and vice president. All In-kind gifts of personal property valued at $100,000 or more and all In-kind gifts of real estate must be approved by the President. All gifts accepted by the University are reported to the Board of Regents for confirmation.
Gift-In-Kind Information forms and Gift Transmittal forms may be obtained from the Development Office.
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P.O. Box 519 - Prairie View, Texas - 77446-0519
FM 1098 Rd & University Dr, Prairie View, TX 77446
University Operator: (936) 261-3311
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