Executive Memorandum
June 2005
P05-04
SUBJECT: CHARITABLE DONATION ACCEPTANCE POLICY
This Executive Memorandum addresses the process of accepting and managing charitable donations on behalf of Humboldt State University.
In the 2004-2005 academic year the Humboldt State University Advancement Foundation (HSUAF) was formed. Its purpose is to accept charitable donations and manage the philanthropic assets of the university in order to maximize interest earnings. The Humboldt State University Foundation, which was renamed the Humboldt State University Sponsored Programs Foundation (HSUSPF), is intended to oversee externally funded grants/contracts and accept/manage charitable donations that will be expended on campus programs within a twelve month period of time.
Process:
All cash gifts will continue to be received by the Gift Processing Center (GPC). The GPC will work with the Office of University Advancement to determine where the gift should be deposited according to the following guidelines:
- Cash gifts of less than $25,000 and cash gifts of any size intended to be spent within the next twelve months will be deposited in the HSUSPF.
- Cash gifts equal to or greater than $25,000 that will not be expended within the next twelve months will be deposited in the HSUAF for long term investing.
- All endowments supporting campus programs will be deposited in the HSUAF.
- Scholarship endowments equal to or greater than $25,000 will be deposited in the HSUAF.
- Non-endowed scholarships and scholarship endowments less than $25,000 will be deposited in a State account.
- Non-cash donations, such as real estate, art, automobiles, etc., will continue to be coordinated through the Office of University Advancement.
The President of the University has the authority to make exceptions at any time.