Financial Policies

To set forth the policies associated with gifts of currency.

To provide a framework for gifts of life insurance policies.

To comply with Pennsylvania law, guarantee proper allocation of donations, avoid adjustments, and maintain consistent donor relations, no gift to the University shall be returned to a donor unless a clear error in the amount of payment or payee has occurred.

To define gifts vs. grants or sponsored projects, to ensure proper classification, acknowledgement, stewardship, administration, financial recording and reporting.

To accommodate the needs of donors who wish to contribute to the University through Donor Advised Funds. To identify and meet relevant legal and tax issues associated with Donor Advised Fund.

To document to policy for using scannable pledge cards for lockbox collections.

To guarantee the accurate collection of information from both donors/University employees and Office of Development and Alumni Relations for gifts made via payroll deduction.

To document policies regarding pledge agreements, reserve balances, past due pledges, and pledge write-offs.

The purpose of this document is to set forth the University’s policy with respect to memorial and restricted gifts which are received without designation of purpose or which request endowment status but are below the threshold for establishing an endowed fund at the University.