瓜子TV

Gift Acceptance Policy

Learn more about 瓜子TV's gift acceptance policy.

I.    POLICY STATEMENT

  1. As a registered nonprofit organization as described in section 501(c)(3), 瓜子TV (the 鈥淐ollege鈥) highly values and actively encourages the solicitation and acceptance of gifts that support its mission of teaching, research, and service. 
  2. The purpose of this Policy is to: 
    1. Govern the acceptance of all gifts to the College. 
    2. Provide guidance to donors, professional advisors, and grant-making organizations. 
    3. Provide guidance to individuals of the Institutional Advancement (IA) office, institutional partners and volunteers who may engage in solicitation for the College. 
    4. Provide standards to facilitate effective decision-making in accepting, rejecting, or establishing conditions for gifts and to minimize the risk of misunderstandings.
  3. The College adheres to:
    1. Rules and regulations of the Internal Revenue Service Code;
    2. Gift recording and reporting standards established by the Council for the Advancement and Support of Education (CASE);
    3. Standards established by the National Association of Charitable Gift Planners (CGP);
    4. Policies developed on gift acceptance as approved by the Board of the Trustees (鈥渢he Board鈥);
    5. The Uniform Prudent Management of Institutional Funds Act (UPMIFA), as adopted by the State of California on January 1, 2009;
    6. The National Association of College and University Business Office (NACUBO) accounting standards.
  4. The College makes public its Donor Bill of Rights and endorses the . The College鈥檚 practices aim to be consistent with industry best practices and ethical standards put forth by the Association of Fundraising Professionals (AFP), the Council for Advancement and Support of Education (CASE), and the Giving Institute: Leading Consultants to Nonprofits.
  5. All donors are advised to consult with professional advisors about legal and tax matters related to their gifts. The College will not give specific personal advice on legal, financial, or tax matters. 

II.    APPLICABILITY

The Gift Acceptance Policy (the 鈥淧olicy鈥) includes guidance applicable to all members of the College community, including alumni, parents, donors, employees, and the general public. It outlines the College's policies and practices regarding gift acceptance and underscores the vital role of philanthropy in maintaining and enhancing the institution's health and effectiveness.

III.   DEFINITIONS

For purposes of this Policy, 鈥済ift鈥 is defined and qualified as follows: 

  1. Motivated by philanthropic intent, a gift is an unconditional promise to voluntarily transfer an asset from a person or organization to the College where no goods or services are expected, implied, or forthcoming in return to the donor. 
  2. A donor may direct a gift to a specific division, department, program, or purpose including a capital project. A donor may also direct their gift to the area of highest priority for the College. 
  3. Funds received from individuals, businesses, closely held corporations, and family foundations, and those directed by donors through donor advised funds and corporate matching programs will be classified as gifts unless they require performance or other considerations that may result in their being designated as sponsored research or compensation for services. Gifts may include philanthropic grants. 
  4. The College may receive government grants administered through the Sponsored Research Office. These grants may be recorded, but do not count as a gift. 
  5. A gift may be an outright transaction or a commitment 鈥 written or verbal 鈥 to make a payment(s) at a future date. 
  6. All charitable contributions to the College will be recorded and counted in the Advancement database of record in accordance with the standards set forth by the Council for Advancement and Support of Education (CASE) and adhere to the National Association of College and University Business Office (NACUBO) accounting standards.

IV.   POLICY

A.  Who May Solicit Gifts

  1. An employee of the College鈥檚 division of Institutional Advancement whose position includes gift solicitation may engage in fundraising activities. 
  2. No individual or organization (including, without limitation, College departments or units, student organizations, volunteer fundraising committees, and other affiliates) shall solicit gifts on behalf of the College without advance written approval from  the Vice President of Institutional Advancement. Any such individuals or organizations must adhere to this Policy and any guidelines provided by the Office of Institutional Advancement.
  3. All employees, representatives or friends of the College are encouraged to refer any prospective donor to the Vice President of Institutional Advancement or other members of the Institutional Advancement Office.

B.   Anonymity 

  1. The College may accept a gift made by a known donor who requests anonymity. 
  2. A gift will not be treated as anonymous to shield the College from damage to its reputation or disguise a gift that would not otherwise be accepted. 

C.   Restrictions on Accepting Gifts 

  1. Gifts may be accepted solely for purposes and programs that are consistent with the philanthropic goals and mission of the College. 
  2. There are times when the College is unable to accept a gift, such as when the gift: 
    1. violates the terms of this Policy; 
    2. conflicts with College philanthropic priorities, policies, best practices, or the mission of the College;
    3. could inflict damage to the College鈥檚 mission, standing, or integrity;
    4. involves or creates a potential conflict of interest;
    5. generates more cost than benefit due to the administrative or legal effort involved; 
    6. is too difficult or expensive to administer or creates unacceptable liability;
    7. would potentially jeopardize the College鈥檚 tax-exempt status;
    8. intends to be fulfilled in more than five fiscal years, with the exception of will/estate gifts;
    9. is connected to funds or property that were acquired unlawfully, where clear title to the donated asset does not flow directly from the donor to the College;
    10. provides a donor with goods or services of financial value in exchange for the donor鈥檚 gift unless such value is fully disclosed in the time and manner as required under federal and state law and regulations;
    11. is too restrictive or compromises the academic freedom of the College;
    12. involves unlawful discrimination based upon race, religion, sex, gender, age, national origin, color, ancestry, disability, or any other basis prohibited by federal, state, or local laws and regulations; 
    13. Would violate any other applicable law or regulation or College policies. 
  3. If it is unclear whether a gift or potential gift may involve a prohibited restriction, as set forth above, the Vice President of Institutional Advancement may refer the matter to the Gift Review Committee for review and approval. 
  4. The acceptance of a gift does not imply nor mean that the College endorses or approves the donor鈥檚 views, opinions, businesses, or activities.

D.  Gift Approval

  1. All gifts must be accepted by the Vice President of Institutional Advancement or an expressly authorized College officer. 
  2. The Vice President of Institutional Advancement may, in consultation with the Chief Financial Officer, refer a gift to the Gift Review Committee to evaluate whether it contains certain prohibited elements (as set forth in Section IV.C above); provided that, the Vice President of Institutional Advancement will regularly consult with other Vice Presidents in the area(s) most impacted by a potential gift that may be referred to the Gift Review Committee. 

E.   Transferring Assets

  1. The College accepts gifts through many payment methods, including:
    1. Cash (including but not limited to cash, checks, credit cards, ACH, wire transfers, payroll deductions and student account charges)
    2. Securities including marketable and non-marketable securities, and closely-held stock
    3. IRA/QCD
    4. Real estate
    5. Tangible or intangible personal property (gifts-in-kind)
    6. Payments made from third-parties such as donor-advised funds, family foundations and corporate matching programs run through third-parties 
    7. Foreign currency
    8. Virtual digital currency (cryptocurrency and NFTs)
    9. Philanthropic grants
  2. A deferred gift is the transfer of an asset to a charitable organization either during a donor鈥檚 life or upon their passing. The College accepts all standard deferred giving vehicles including, but not limited to:
    1. Will/Estate gifts  
    2. Charitable Gift Annuities 
    3. Deferred Gift Annuities
    4. Charitable Remainder Trusts
    5. Charitable Lead Trusts
    6. Life Insurance
    7. Gifts of Remainder Interest in Personal Residence or Farm 
    8. Bargain Sale 
  3. In managing the transfer of assets, the College adheres to current IRS regulations, industry best practices, and NACUBO accounting standards for gift acceptance, asset transfer and acknowledgements.
  4. Gifts are subject to review and due diligence as to the source of funds for all gifts. Specifications unique to each asset type can be found in .

F.    Gift Commitments

  1. A gift commitment is a verbal or written promise from a donor to make a gift of any size at a future date and time. Examples include: 
    1. A recurring online gift;
    2. A single payment at a future date; 
    3. A multi-installment commitment; or,
    4. A legacy commitment.
  2. A 鈥減ledge鈥 is a type of gift commitment of significant value that is recorded as a donor鈥檚 documented, legally-enforceable promise in a gift agreement to make or complete a gift in a certain time frame, typically no greater than five years. 
  3. The College adheres to IRS regulation regarding directed gifts from private family foundations, corporate matching gift program, and donor-advised fund grants and their applicability to a donor鈥檚 commitment.
  4. Gift commitment schedules may be up to five consecutive years. The first payment will be scheduled within one year of the date of the gift agreement鈥檚 execution, ideally in the same fiscal year. The exceptions are will/estate gift commitments made with the intention to be fulfilled upon the donor(s) passing.
  5. A donor may request a modification to their payment schedule through written correspondence. 
  6. Early fulfillment is encouraged whenever possible. 

G.   Gift Designations

  1. General Protocols for Gift Designations
    1. Gifts shall be directed to a specific gift allocation consistent with the donor鈥檚 written intent.
    2. Gifts received without a designation may be allocated to the highest priority need. Gifts with unknown designations may also be referred to the Gift Review Committee for approval. 
    3. The College has established the following guidelines for undesignated gifts from an estate: 
      1. Gifts less than $25,000 made from a donor鈥檚 estate shall be allocated to an area of greatest need. Gifts greater than $25,000 made from a donor鈥檚 estate shall be allocated to the College鈥檚 quasi endowment. 
    4. 瓜子TV may approve the establishment of restricted expendable funds or restricted and unrestricted endowment funds upon receipt of gifts or commitments which meet its approved financial criteria and other applicable criteria.
    5. Please see the Naming Policy and Naming Gift Minimum for further consideration for naming opportunities and thresholds to establish restricted expendable and endowed funds.
  2. Each designation is directed to a funding allocation such as a specific department, program, or purpose. Each designation fits into one of the following categories:
    1. Expendable: funds made available for immediate use in operational expenses, program support, and near-term projects. These designations may or may not have spending restrictions, and may be considered budget-relieving or budget-enhancing depending on the designation. 
    2. Capital: funds to be used for the construction, renovation, and major maintenance of facilities and infrastructure. 
    3. Endowment: funds that are invested to provide a sustainable income stream for the organization. The drawdown rate for endowment funds is set by the Board of Trustees and the College adheres to the Statement on Investment Policies and Objectives.
  3. Gifts to the Endowment
    1. The terms and conditions of establishing new endowments will be reviewed by the Chair of the Gift Review Committee (the Vice President, Institutional Advancement).
    2. Endowment requirements are set forth in our and Gift Minimums (to link). 
    3. Since endowed funds last in perpetuity, documentation establishing such gifts must expressly give the Board of Trustees the authority to address future considerations, including changes in law, policy, or circumstances. This documentation must expressly give the Board the authority to release or amend certain terms and conditions of a gift if they would render its administration unlawful, impracticable, or wasteful, in the Board鈥檚 discretion. The College will provide notice to the original donor of any proposed release or amendment and a reasonable opportunity to discuss it.  In the absence of the original donor, the institution will consult and adhere to the Uniform Prudent Management of Institutional Funds Act (UPMIFA) guidelines. 

H.  Gift Review Committee 

  1. It is the role of the Gift Review Committee (the 鈥淐ommittee鈥) to review gifts that are directed to the Committee as well as any supplemental information to make a determination about a gift鈥檚 acceptability and/or specific terms and conditions. 
  2. It is the prerogative of the Committee to accept, reject, or propose a modification to a gift for the donor鈥檚 consideration, including after a gift has been accepted when, based on information unavailable at the initial time of acceptance and/or under unusual, unforeseen or extraordinary circumstances, the continued acceptance of said gift would reflect adversely upon the College. 
  3. The Gift Review Committee has the responsibility to review the following types of gifts, upon receiving a referral from the Vice President of Institutional Advancement: 
    1. Gifts that are potentially prohibited under Section IV.C of this Policy;
    2. Gifts involving unusual funding arrangements, commitments on the part of the College, or significant legal or reputational risk;
    3. Gifts that have been previously accepted by the College but require further scrutiny due to new information about the gift鈥檚 origins or donor, including as outlined in the .
  4. The Vice President for Institutional Advancement serves as the Chair of the Committee. In their absence, the deputized leader for the Institutional Advancement division shall serve as the Chair. The Committee will also include the Vice President and Chief Operating Officer, the General Counsel, the Chief of Staff, and such other members of the College鈥檚 leadership as appropriate, in light of the particular gift.
  5. The Chair shall consult with the President before any meeting of the Gift Review Committee. The Chair may also consult with and invite other members of the College鈥檚 administration, faculty, and Board of Trustees as appropriate. 
  6. Proposals for naming or renaming an entire building, structure, or residence hall (as opposed to a component thereof) 鈥 which are considered Prominent Structures and/or Programs 鈥 will require the approval of the Gift Review Committee, as outlined in the College鈥檚 .

I.   Gift Documentation

Gift documentation serves to define the mutually agreed-upon terms of a gift and codify the donor鈥檚 commitment to make a gift at a future date. While not all gift commitments require formal documentation and not all gift documentation is legally enforceable, it plays a crucial role in ensuring that both the donor and the College have a shared understanding of the gift's purpose, terms, and conditions.

  1. Guiding Principles

    1. Donor Intent Adherence: Any College department/office benefitting from a gift is obligated to use that gift according to the wishes of the donor as documented in formal gift agreements and/or other documentation clearly stating donor intent.
    2. Restrictions: The terms of any gift should be as flexible as possible to permit the most productive use of the funds over time, while clearly stating the intent of the contributor.
    3. Recipient/Beneficiary Selection: Donors are not permitted to choose individual recipients or beneficiaries of their gift.  
    4. Indirect Funding: The appropriate gift documentation will be used in cases where a donor's intentions include an indirect funding source 鈥 such as donor advised fund, matching gift program or private family foundation. The College will adhere to IRS regulations and industry best practice ensuring legal compliance.
    5. Amendments: To have force and effect, any amendments to a gift or gift agreement require the advance, signed approval of both the Vice President for Institutional Advancement and the donor, except as stated in the UPMIFA. 
      1. An amendment to a gift agreement can only be made by the original donor(s).  
      2. Where the donor鈥檚 consent to modification of a gift or gift agreement cannot be obtained, the College may seek unilateral modification of the gift consistent with the UPMIFA or other applicable law. 
    6. Institutional Transparency: The Vice President of Institutional Advancement or their delegate reserves the right to bring gift agreements to the Gift Review Committee. 

  2. Gift Documentation Guidelines and Requirements

    1. Gift documentation expresses the mutual understanding between a donor and the College in relation to the donor鈥檚 intended charitable contribution. The primary purpose is to document donor intent, which may include, but is not limited to: 
      1. the dollar amount of the charitable gift/pledge,
      2. the purpose and use of the fund, any specific guidelines and restrictions,
      3. reporting expectations, 
      4. giving vehicle/method of payment, 
      5. pledge payment schedule, 
      6. recognition (i.e. naming),
      7. and any other obligations mutually agreed upon by the donor and the College.
    2. All formal gift documentation must include the following or a substantially similar phrase: 鈥淚f the administration of the gift or adherence to the express purposes becomes unlawful, impracticable, or wasteful, the College will provide notice and an opportunity for the donor to discuss an appropriate release or modification to the impacted term or condition. If the donor is unavailable or does not provide approval for such a release or modification, the College may suspend administration of the gift; modify the purpose or administration of the gift solely to the extent necessary for legal compliance; or take other actions consistent with the Uniform Prudent Management of Institutional Funds Act.鈥
    3. All formal gift documentation 鈥 including legally-binding gift agreements, memorandums of understanding and non-legally binding gift intention agreements 鈥  are developed by Institutional Advancement and subject to review by the College鈥檚 General Counsel and the Business Office. The College adheres to industry standards and legal requirements for charitable giving. 
    4. All formal gift documentation must be executed by the donor or by an authorized signatory who has been established as an executor and/or power of attorney in the case of a trust, estate, or family foundation gift. All legally-enforceable agreements and memorandums of understanding are countersigned by an authorized College official. 
    5. Wills, trusts, beneficiary designations, or other estate planning documents are acceptable forms of gift documentation for legacy gift commitments. 
    6. Living donors who wish to make a significant financial gift may direct their gift to any number of exceptional programs, projects or departments.
    7. Please see the Counting Policy for further details. 
    8. The College reserves the right to pursue enforcement of binding agreements made between a donor and the College. 

  3. Gift Documentation for Individual Donors

    1. The College develops and executes different types of gift documentation that align with industry standards and IRS regulations for charitable giving and accounting. Formal gift documentation is generally required for new obligations of significance, generally defined as multi-year commitments and outright gifts of $10,000 or more. 
    2. A gift commitment 鈥 sometimes referred to as a 鈥減ledge鈥 鈥 that requires a legally-enforceable gift agreement include: 
      1. Endowment gifts of $100,000 or greater.
      2. Restricted expendable gifts where a new fund must be created.
      3. Capital project gifts over $10,000 and/or associated with naming opportunities,
      4. Real property gifts.
      5. Personal property gifts, excluding publicly traded stock or bonds for unrestricted purposes.
      6. Deferred gifts creating endowments or restricted funds.
      7. Any other type of irrevocable gift.
      8. Non-capital gifts with associated naming opportunities (i.e. physical spaces, academic units or programs, scholarships, professorships, e.g.).
    3. A gift requiring non-legally-binding gift intention agreements include: 
      1. Multi-year pledge commitments to the 瓜子TV Fund and current year restricted gifts to the College over $10,000.
      2. Restricted expendable gifts of over $10,000 where a fund exists 
      3. Gifts to endowed funds that have already been established,
      4. Intended gifts from donors whose interests and efforts result in the establishment of a memorandum of understanding for a new pooled fund.
    4. Gift documentation is not required to accept and record all gift commitments. The College also accepts and records verbal and other informal commitments in accordance with industry standards.

  4.  Foundation and Corporate Donors

    1. A signed award letter/grant agreement from a foundation or corporation is an acceptable form of documentation if it accepts the terms of the original proposal in total and/or documents restrictions on the gift鈥檚 designation, use, reporting requirements, giving vehicle, contribution schedule, recognition, and/or other obligations agreed upon by the foundation or corporation and the College.

  5. Legacy Gift Intention Form/Estate Planning Documents

    1. A legacy gift intention form is used by the Office of Gift Planning to document the following donor estate plans:
      1. Bequest in wills or revocable trusts
      2. Bequest for a specific percentage of an estate
      3. Retirement plan beneficiary designations
      4. Insurance policy beneficiary designations
    2. Wills, trusts, beneficiary designations, or other estate planning documents are acceptable forms of gift documentation.
    3. 鈥嬧婽he College records gift commitments for legacy gifts in good faith based on the documentation provided by the donor(s). The College adheres to its Counting Policy in cases where the donor does not provide a specific or estimated value and/or is unable to provide gift documentation or refuses to complete the College鈥檚 required gift documentation.

  6. Pooled Fund Gift Initiatives Memorandum of Understandings (MOU)

    1. Specific pooled fund gift initiatives and their fundraising goals, objectives, strategies, deadlines and contingency plans, should the required gift minimums not be reached, are documented in a Memorandum of Understanding (MOU).  
    2. The MOU signatories are the Vice President for Institutional Advancement or their designee and the initiative鈥檚 lead volunteer(s).  Examples of these sorts of initiatives include class gifts and College crowdfunding efforts. 

J.   Deferred Gifts

  1. With the exception of CGAs, the College may share in the charitable interest with another charity.
  2. The College may serve as trustee of a CRT (if it is at least a 50% remainder beneficiary of an irrevocable interest) or co-trustee of any deferred gift requiring the appointment of a fiduciary, except as prohibited by the Gift Review Committee.
  3. The College will charge any trust for which it serves as trustee an administrative and investment management fee; pooled gift annuity funds will be charged fees as well. The fees will be competitive, reasonable and fair within industry standards. 
  4. The College will charge a trust administrative fee if it serves as co-trustee on a trust. The fee will be reasonable and fair within industry standards.
  5. Upon maturation, planned gift funds shall be designated according to the donor鈥檚 wishes, provided those wishes are congruent with College policy at the time. Otherwise, these designations shall be referred to the Gift Review Committee.

K.   Counting & Reporting Gifts

  1. The College shall report gifts in alignment with its fiscal year (July 1 through June 30 where the fiscal year is the year the fiscal year ends). The exception for this is when the College is in a comprehensive campaign where campaign reporting may include multiple fiscal years鈥 fundraising outcomes.
  2. The College counts and reports gifts in accordance with CASE, IRS regulation, and NACUBO accounting standards. 

V.   POLICY HISTORY

Responsible Officer: VP for Institutional Advancement

Effective Date:January 24, 2025.

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