Year End Gifts

Policy Statement

Adelphi University appreciates and depends upon the generosity of alumni and friends to support its mission, programs, and purposes. Gifts must be solicited, accepted, processed, recorded, and acknowledged in a manner that protects the interests of both the institution and its donors.

Reason for Policy

To ensure proper gift dates for donors, in accordance with Internal Revenue Service rules and regulations.

Who Is Governed by this Policy

Staff

Policy

1. A charitable contribution can be deducted by an individual for income tax purposes only in the year in which it is actually given. Gifts received by the Office of the Vice President of University Advancement or its representatives must be postmarked no later than December 31, or must be delivered or transferred to the Office of University Advancement’s account by this date.
2. When the donor personally delivers cash or securities, a notation should be made on the document(s) by the person accepting the gift, which reads: “hand-delivered on December , 20 ,” and a receipt given to the individual describing the gift.
3. Charitable contributions made with a credit card are deductible in the year the charge occurred rather than in the year the donor actually pays it. Tax theory is that once the charge is made, the University has full rights to the donated money. Reference: Revenue Ruling 68-174, 1978-1 CB67.
4. The Office of the Vice President of University Advancement is responsible for processing year end gifts in a manner that is donor-centric. The primary concern for processing year end gifts is related to donors that mail a credit card gift to the Office. To the best of the ability of the Office, these gifts will be processed after opening the mail on December 31, or the last day that the United States Post Office will deliver mail in the given calendar year.
5. The Office of the Vice President of University Advancement will coordinate these year end efforts with the Office of Business Affairs that oversees the staff that manages the University’s mail operation.

Definitions

This policy does not have definitions associated with it at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.

Forms

This policy does not have forms associated with it at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.

Related Information

This policy does not have related information at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.

Document History

• Last Reviewed Date: December 31, 2017
• Last Revised Date: December 31, 2017
• Policy Origination Date: Unknown

Who Approved This Policy

Brady Crook, Vice President, University Advancement