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2210 Gifts with Benefits

Document purpose

To ensure the proper deposit of a donor check that includes both gift and benefit

effective

July, 2003

revised

April, 2017

Reviewed

May, 2021

Responsible Office

Treasurer

Approval

Treasurer

Policy

A BEN Deposit ticket must be completed, along with a Gift and Pledge Transmittal Form.

The BEN Deposit ticket should be brought to the Cashier’s Office for deposit. For the gift portion, the ticket must have the proper object code which is 1149 on the account entry line.

Same day, a copy of the validated deposit ticket should be attached to the Gift and Pledge Transmittal form, along with any supporting documentation including a copy of the check and delivered to Gifts Accounting & Administration, Suite 300, 2929 Walnut Street. The Gifts Office will journal the money from object code 1149 and will properly record the gift and forward a gift receipt to the donor for tax purposes.

All school/center deposits to 1149 without appropriate gift documentation (Gift & Pledge Transmittal) will be written off to 4920 (other income) after 90 days.