PRP 2780 - In-Kind University Donations

PRP 2780 - In-Kind University Donations

Issued by: Robert Parrish, V.P. for Administration

Re-issued 4/01: Sharon K. Meyer, Vice President, Administration and Finance

Effective Date: January 15, 1988

NOTES: Concurred upon by President's Cabinet January 15, 1988.

Revised 12/1/00 To Forum April 4, 2001, Revised by GAC. Rev. 2 approved by Secretariat January 28, 2002. Endorsed by Forum February 6, 2002.

Tangible gifts of merchandise, supplies, equipment, art pieces and books are considered in-kind donations to the University. Through a fiduciary agreement, the University recognizes all donations through the BU Foundation.

A memo detailing the donation and stating the value must be submitted to the Vice President for Administration and Finance. This memo will then be forwarded to the BU Foundation.

The Vice President for Administration and Finance is required to enter these assets into the accounting records of the University. The BU Foundation will ensure that the item is properly credited to the donor and that the donor is recognized for the contribution. Non-tangible gifts in kind (such as gift certificates) or consumable donations (ex: printing of tickets for special events) are reported only to the BU Foundation Development Center for recording and for donor recognition.