Βι¶ΉΣ³»­

1,630: Gift Processing

Revised: October 2020

  1. The Βι¶ΉΣ³»­ Foundation is designated as the agency through which all philanthropic gifts, including cash, pledges, securities, trusts, bequests, insurance policies, property, etc., must be officially received, recorded, deposited, and acknowledged. Gifts must be directed to the Foundation. Other offices such as the Cashier’s Office or the Controller’s Office will not accept or deposit a gift unless it is approved by the Foundation. This procedure ensures that all pertinent data on gifts are documented in donor and accounting records so that accurate records can be submitted to the appropriate entity for formal acceptance, and so that official acknowledgements, in conformance with IRS regulations, are generated expeditiously.
    1. Donors should be instructed to:
      1. Make the gift payable to Βι¶ΉΣ³»­ Foundation
      2. Enclose a letter or note of instruction communicating the purpose of the gift;
      3. Send or deliver the gift directly to the Foundation Accounting Office, 127 Mackay Science, Mail Stop 0162, Reno, NV 89557-0162.
  2. Gifts of securities are to be delivered to the Foundation and will be liquidated immediately.
  3. If a gift is received by a unit or representative, the gift must be forwarded to the Foundation within 24 hours of receipt, along with any original correspondence relating to the gift and its use, and a completed Foundation gift deposit form.
  4. Upon receipt of a gift, correspondence, and gift deposit form, the Foundation will:
    1. Determine whether the terms of the gift comply with established university regulations and objectives and applicable federal and state laws;
    2. Update donor records with biographical and contribution information and generate an official letter of acknowledgment from the University President and/or a gift receipt;
    3. Deposit the gift on the day of receipt with the appropriate banking institution.
  5. Statements to remind donors of outstanding balances on pledges are sent by the Foundation.
  6. The Foundation is charged with the responsibility to maintain complete and accurate records of all university donors, alumni and friends. This information is kept strictly confidential. Separate databases of these constituent groups should not be maintained separately.