1,630: Gift Processing
Last Revised: October 2008
- The University of Nevada, Reno Foundation/Development & Alumni Relations is designated as the agency through which all gifts, including cash, pledges, securities, trusts, bequests, insurance policies, property, etc., must be officially received, recorded, deposited, and acknowledged. Donors should be instructed to:
This process minimizes the length of time it takes to deposit a gift into the appropriate Foundation or Board of Regents gift account.
- Make the gift payable to University of Nevada, Reno Foundation
- Enclose a letter or note of instruction communicating the purpose of the gift, if any;
- Send or deliver the gift directly to the Foundation Accounting Office, 127 Mackay Science, Mail Stop 0162, Reno, NV 89557-0162.
- If a gift is received by a campus unit or representative, the gift must be forwarded within 24 hours of receipt, along with all original correspondence, if any, relating to the gift and its use, and a completed gift form to the Foundation.
- Upon receipt of a gift, correspondence, and gift form, the Foundation will:
- Determine whether the terms of the gift comply with established university regulations and objectives and applicable federal and state laws;
- Update donor records with new biographical and contribution information and generate an official letter of acknowledgment from the university president and/or a gift receipt;
- Deposit the gift on the day of receipt with the appropriate banking institution.
- 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 Foundation Board of Trustees and Board of Regents for formal acceptance of the gifts, and so that official acknowledgements, in conformance with IRS regulations, are generated expeditiously.
- Statements to remind donors of outstanding balances on pledges are sent by the Foundation annually, semi-annually, quarterly, or monthly per the requests or donors and/or university departments.
- The Foundation is charged with the responsibility to maintain complete and accurate records of all university donors and alumni. This information is kept strictly confidential.