This policy defines the basic guidelines governing the acceptance and acknowledgment of gifts and private grants for the benefit of campus programs through either The Regents or the UCSF Foundation.
Acceptance of a gift/private grant: the formal intent to take title of a tendered gift/private grant. A letter indicating acceptance including a description of the gift/private grant, the date of receipt, and the signature of the person authorized to accept gifts/private grants on behalf of the University, constitutes legal acceptance. A gift cannot be accepted unless the donor's intent is legally, ethically, and procedurally acceptable according to all University policies since the University is legally obligated to adhere to the terms of every gift/private grant.
Acknowledgment of a gift/private grant: the written notification sent to inform a donor that the proffered gift/private grant has been received. Letters of acknowledgment from persons other than those with delegated acceptance authority do not constitute legally recognized acceptance and should not state or imply that a gift has been accepted.
Bequest: a transfer, by means of a will, of personal property (e.g., cash, securities, or other tangible property).
Deferred gifts: a commitment or gift established legally during the donor's lifetime, but in which principal benefits typically do not accrue to the charitable recipient until some future time, often after the donor's death. The term is usually applied to any arrangement whereby money or property is irrevocably allocated for future receipt by an organization, frequently where income is paid to the donor and/or someone else for a period of time. Annuities, trusts, gifts of insurance, and will commitments are generally referred to as deferred gifts.
Devise: a gift, often real property, found in a last will and testament.
Gift: a voluntary, irrevocable transfer of something of value (e.g., cash, real estate, stocks, bonds, gifts-in-kind, mineral rights, inventions, patents) without consideration at the time of transfer or any time in the future. Gifts-in-kind: a contribution of equipment, supplies, or other property in lieu of money.
Intangible property: gifts of property with no intrinsic value but which are evidence of value.
Life income plans: a gift of cash, securities, and/or real estate when the donor receives income from the donated assets for a period of time through an annuity or trust arrangement for the donor and/or other beneficiaries.
Pledge: a signed and dated legal commitment to donate a gift over a specified period of time; the total value of such a commitment.
Private grant: an award to UCSF in response to a proposal submitted to a private foundation, association, corporation or corporate foundation, or private trust that specifies reports on expenditures, guidelines for audits, consideration for the grantor, testing or evaluating, and/or satisfying specific conditions or requirements for a specified period of performance.
Testamentary gift: a gift by means of a will, effective after the death of the donor.
Testator: a person who makes a legally valid will; a person who dies leaving a will.
The Chancellor may accept all pledges and gifts/private grants that do not require Regental approval (see III.A.).
Private grants may not be accepted through the UCSF Foundation.
The dollar amount of a gift/private grant shall be the amount of cash actually received; or, if in the form of a pledge, the full amount pledged; or the equivalent to the fair market value of securities or other property.
All gifts must be clearly identified as such by the donor. Although it need not take legal form, a statement in writing from the donor is required to assure tax deductibility. The statement must:
There may be a conflict of interest if the acceptance of a gift is placed in a fund in which the recipient retains control of expenditures (e.g., if a faculty member makes a gift in support of an activity which the faculty member administers, or receives a donation in lieu of payment for services between patient and physician). All such gifts should be assigned to an account over which the chairperson or director has signature authorization that is not shared by the designated recipient.
All proposed gifts to the UC Regents or to the UCSF Foundation for the benefit of UCSF must be first referred to the Assistant Vice Chancellor--University Development and Alumni Relations for review and approval. University Development and Alumni Relations reviews gift offers to ensure the terms are in conformity with Regents or UCSF Foundation policy and do not unduly restrict the usefulness or desirability of the gift.
The Treasurer of The Regents and/or the UCSF Foundation are the official custodians of all securities (e.g., stocks and bonds). Securities received by any department should be delivered immediately to University Development and Alumni Relations along with the postmarked envelope. The valuation of stock depends upon the date of its receipt. University Development and Alumni Relations will forward the proceeds from the sale of securities to its appropriate designation.
All papers and documents relating to probate matters, including notices of hearings, wills, documentary evidence of assets, and forms of receipt for distribution as assets, should be forwarded promptly to University Development and Alumni Relations. Acknowledgment of a testamentary gift is generally made after distribution from the estate. In some cases, however, acknowledgment prior to receipt may be appropriate. University Development and Alumni Relations should be consulted in advance concerning prior acknowledgment of a testamentary gift.
Gifts-in-kind, including works of art, may only be accepted by University Development and Alumni Relations. Proposed recipients are not authorized to accept such gifts on behalf of The Regents or the UCSF Foundation and should not informally or verbally indicate that acceptance will be forthcoming.
Authority to accept gifts of real property valued at $50,000 or more has been retained by The Regents. The President of the University of California may accept gifts of real property to The Regents valued at less than $50,000. The UCSF Foundation may accept gifts of real property of any value after review in accordance with University procedures.
Pledges
A pledge is accepted in the same manner and under the same conditions as a gift of cash, regardless of whether it is accompanied by an initial payment. Information, prior to the death of a testator, that provision has been made in a will for the benefit of UCSF at a future time does not constitute a pledge.
Life income plans
University Development and Alumni Relations should be consulted for guidance on handling gift proposals involving life income plans.
Contact Office of Origin (see above) with any questions.