Centralizing and Coordinating Gifts and Pledges
Seton Hall University relies heavily upon the generosity of its friends and benefactors in fulfilling its Catholic educational mission of preparing servant leaders for a global society. The University may accept gifts and pledges that are consistent with its stated mission and bylaws, and federal, state and local laws and regulations.
There are many different types of gifts and pledges, such as cash, stock, real estate, jewelry, paintings, equipment, etc. A variety of methods of gift giving also exist— outright gifts, pledges, deferred gifts, bequests and the like, as well as a variety of specific designations, i.e., unrestricted, restricted, endowment and capital. The University receives gifts and pledges from many different sources (individuals, estates, corporations and foundations) and through many University offices, employees and friends. Certain gifts, such as real estate, need to be approved by the University’s board of regents prior to acceptance. Please refer to the University’s Gift Policy for more information on gifts and pledges.
An important component of every successful development program and fundraising campaign is a strong stewardship program, which systematically acknowledges gifts, thanks donors, and reports on the impact of donors’ gifts. Good stewardship has proven to be an invaluable way to cultivate good relations with donors and generate additional financial support for the University.
2. Policy Statement and Purpose
The Development Office of University Advancement is the official University office for solicitation, acceptance, recording and receipting of all gifts and pledges to Seton Hall. The Development Office must be notified of intentions to raise funds prior to soliciting gifts or submitting non-government grant requests. The vice president and dean of the area must also be notified in advance of any solicitation. Such notification will facilitate coordination and avoid duplication of appeals, thereby fostering good donor relations.
The purpose of this policy is to centralize the soliciting, accepting, processing and receipting of all gifts and pledges to Seton Hall University regardless of type, amount, method of giving or designation. Centralizing the process of accepting, processing and acknowledging/receipting of gifts and pledges will strengthen the University’s development and stewardship programs. It will enable Seton Hall, through the Development Office, to appropriately record all gifts and pledges in the University’s database and to promptly acknowledge and recognize the generosity of every donor. It will also permit the University, through the Development Office, to provide timely and accurate reports to donors and to cultivate them for additional support to the University.
All gifts and pledges, regardless of type, amount, method of giving or designation, must be accepted and acknowledged through the Development Office. Any employee of the University who receives a gift or pledge on behalf of the University must contact the Development Office immediately for processing of the gift or pledge. The Development Office is also responsible for acknowledging, in writing, the gift and generosity of every donor, as well as the issuance of any tax receipts or disclosures statements that may be appropriate pursuant to the Internal Revenue Code, and for the recognition of donors through published reports, physical plaques and signage, as appropriate.
3. Responsibilities and Offices
All University employees:
- Accepts and acknowledges gifts and pledges in writing to donors
- Issues tax receipts and disclosure forms to donors, as appropriate
- Seeks board approval for gifts, if required
- Coordinates solicitation of gifts and pledges among University constituencies
- Solicits, accepts, records and acknowledges gifts and pledges
- Key resource and point of contact for all University gifts and pledges
- Reviews and recommends updates to policy as appropriate
- Notify the Development Office, vice president and dean of intentions to raise funds prior to soliciting gifts from individuals or submitting non-government grant requests
- Notify the Development Office, vice president and dean of all gifts and pledges within 24 hours of receipt
- Arrange for the immediate delivery of the gift to either the Development Office or the University Bursar
- In addition to the Development Office, vice presidents and deans may acknowledge gifts and pledges made to their respective departments that were processed through the Development Office.
- Vice President for University Advancement
Approved: 8 November 2007
November 8, 2007
Division of University Advancement