GIFT REPORTING AND TRANSMITTAL FORM
Table of Contents:
- General Information
- Exhibit and Instructions
- Form Requirements
- Number of Copies and Ultimate Distribution
- Where To Send Completed Forms
- Contact Information
- Cross References
The Gift Reporting and Transmittal Form is used in the following situations:
- To initiate the recording, acceptance, and acknowledgment process for gifts of securities, wire transfers, and gifts-in-kind;
- To initiate the recording, acceptance, and acknowledgment process for gifts of cash and checks received by administrative units, whether the monies are deposited to the Gifts Fund (0680) or other budget/fund, when appropriate.
- Responsibility for the preparation of this form is as follows: At Colleges and Campuses - Development Office Staff member; at all areas without a Development Office, the person receiving the gift should initiate the form.
- Although the administrative unit receiving the gift may send the donor a courtesy acknowledgment, where formal acceptance is required, such acceptance documents shall be prepared by OUD for signature by the Associate Vice President for Finance and Corporate Controller or a designee. For those requiring a letter from the President, appropriate information must reach the Office of the President within five (5) days of receipt by the University.
- Faculty and staff are requested to consult with OUD before they approach anyone for a gift, grant, or bequest.
- The Office of University Development will distribute copies of the Gift Reporting and Transmittal (GRT) form to the Property Inventory Department when a gift-in-kind is received.
- When a cash/check gift is deposited directly into a "final" gifts account (other than the Gifts Account 0680), no receipt will be generated by OUD/Donor & Member Services for the donor.
- For Gifts-in-Kind pertaining to equipment items $5000 or more and any Real Estate transaction, a third party appraisal or vendor invoice is required to establish a value for entering onto the University's Financial Records.
To view document exhibit, click on link below:
No form may be used that substitutes for an approved official University form without prior review and approval by the steward of the form/central office, as facilitated by the Office of Systems and Procedures (designated representative of the Corporate Controller). See Policy FN17 - Required Use of Approved University Forms Appearing in the General University Reference Utility (GURU) for full details.
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|Ultimate Distribution:||Retention Periods:|
|Original||Office of University Development||4 years after receipt of gift|
- If the gift is cash or check - forward the completed GRT form with the cash or check, and all supporting documentation to the Financial Officer in your department or administrative area. The Financial Officer will then prepare a Report of Cash Receipt (ROCR) and deposit the cash or check per Policy FN01 - Processing Cash Revenues . The GRT, ROCR information, and other support documents are then returned to the Development Officer for further processing.
- If the gift is securities - At University Park -The GRT form, stock certificates, and any supporting documents, must be hand-carried to the Office of Gift Planning. At all other locations - Forward all information specified above via registered U.S. Mail to the Office of Gift Planning, 214 The 103 Building, University Park, PA 16802.
- If the gift is a "gift-in-kind" (any non-monetary item other than securities) - Forward GRT form and all supporting documentation to Office of Gift Planning, 214 The 103 Building, University Park, PA 16802.
For questions, additional detail, or to request changes to this form, contact the Office of University Development.
- Policy AD35 - University Archives and Records Management
- Policy FN01 - Processing Cash Revenues
- Policy FN17 - Required Use of Approved University Forms Appearing in the General University Reference Utility