Finance 202: Gifts and Donations
To provide departments with guidelines for the appropriate accounting and processing of gifts and donations
Real Property: Land, buildings, other capital improvements, and fixtures and major equipment items affixed thereto.Tangible Personal Property: Moveable equipment, vehicles, furniture, artwork, etc.
All cash gifts made to the University of Alaska or for the benefit of the University of Alaska, unless expressly prohibited by the donor, will be accepted, held, and managed by the University of Alaska Foundation. Cash gifts must be routed to the Office of Development for processing. This requirement ensures that:
Submit cash donations to the Office of Development with a Cash Gift Transmittal Form.
The acceptance of non-monetary gifts, such as real property and tangible personal property must be cleared through the Office of Development. Because of liability considerations, only the University President is authorized to accept gifts of real estate. After acceptance and receipt, a non-monetary gift, with a value of $2,500 or more, must be reported to the Accounting Services Manager so that the gift information may be transmitted to the Statewide Financial Accounting Manager for entry in the financial records. The Accounting Services Manager will arrange for equipment tagging, if applicable.
The following information must be provided to the Accounting Services Manager:
The Associate Vice Chancellor for Budget and Finance must approve the valuation method.
Note: Information relating to the valuation of contributed material, whether obtained from independent parties or internally produce is for internal university use only. University representatives are specifically prohibited from conveying valuation information to donors, public or press. However, as a basis for valuations, the university may use copies of independently prepared appraisals obtained and made available by donors.