GIFT REPORTING AND TRANSMITTAL FORM
Last Revision: 08/30/2024

GIFT REPORTING AND TRANSMITTAL FORM

TABLE OF CONTENTS

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PURPOSE

The Gift Reporting and Transmittal Form is used in the following situations:

  • To initiate the recording, acceptance, and acknowledgment process for gifts of securities and wire transfers
  • 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 or other cost collector, when appropriate
NOTE: Please contact Office of Gift Planning at 814-865-0872 or giftacceptance@psu.edu if a Gift-in-Kind is to be given to the University.

GENERAL INFORMATION

  • 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 Office of University Development (OUD) for signature by the Associate Vice President for Budget and Finance or 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.
  • OUD 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), 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.

EXHIBIT AND INSTRUCTIONS

This form has fill-and-print form fields enabled. The PDF version has instructions provided for the type and/or format of information to be include within the fill-and-print form field. Hovering the computer mouse over any form field reveal this instructions.

For step-by-step instruction for completing the Gift Reporting and Transmittal form, click on link below:

Gift Reporting and Transmittal Exhibit

FORM REQUIREMENTS

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 Associate Vice President for Budget and Finance). See Policy FN17 Required Use of Approved University Forms Appearing in the General University Reference Utility (GURU) and Procedure FN2017 Use of Approved Form Templates Appearing on the GURU Website for full details.

NUMBER OF COPIES AND ULTIMATE DISTRIBUTION

Table of distribution and retention of the Gift Reporting and Transmittal Form
Document: Ultimate Distribution: Retention Periods: Disposition Method:
Original Office of University Development 4 years after receipt of gift Paper document = Secure Bin disposal or shred

Electronic document and data = delete and empty computer recycle bin
Transitory copies* - - - - - Upon verification that the document/transaction has processed - End of fiscal year +1 year Paper document = Secure Bin disposal or shred

Electronic document and data = delete and empty computer recycle bin

*Transitory records are University Records that have temporary value and, as a result, may be destroyed after they are no longer needed. In no event shall be retained longer than the official copy of the University Record as delineated on the Records Retention Schedule.

WHERE TO SEND COMPLETED FORMS

  • 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 business area. The Financial Officer will then prepare a Cash Deposit Journal Entry and deposit the cash or check per Policy FN01 Cash Revenues. The GRT, Cash Deposit Journal Entry 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 Acceptance
    • At all other locations - Forward all information specified above via registered U.S. Mail to the Office of Gift Acceptance, 329 Innovation Boulevard, Suite 313, State College, PA 16803-6606.
  • If the gift is a "gift-in-kind" (any non-monetary item other than securities) - Contact the Office of Gift Acceptance, 329 Innovation Boulevard, Suite 313, State College, PA 16803-6606.

CONTACT INFORMATION

For questions or additional details, contact the Office of Gift Acceptance.

To request changes to this form, please contact the Office of Systems & Procedures by submitted a GURU Technical Support Request form.

CROSS REFERENCES