Gifts and Non-cash Awards

Purpose

This document provides information on administering gifts and non-cash awards.

Background

All cash, securities, real or personal property received by the Research Foundation (RF) need to be accepted and recorded in the Grants Management Business System in a timely manner. Acceptance of gifts and non-cash contributions must be in accordance with the Research Foundation Gifts, Contributions, and Fund-Raising Policy and Philanthropy, Gift Acceptance and Valuation Guidelines.

Both sponsored programs and gift-funded activities are externally supported. The classification of funding as “gift” or “sponsored” affects the way the Research Foundation accounts for the funds and reports on the use of the funds to the sponsor or donor and the University.

Non-Cash Grants

A Non-Cash Grant is assigned an award purpose classification that provides the ability to record non-cash contribution for program support. The award purpose classification for a non-cash grant is as follows:

Cash and Non-Cash Gifts

A Gift is a voluntary transfer of real property or personal property from an individual or other entity for which no material value is received in return. Gifts are distinguished from grants in that they may have a restricted use or specified purpose; they do not require the financial or programmatic reporting normally required by sponsors. The following award purpose classifications provide the ability to record cash and non-cash donations from third parties:

Establishing Awards


Non Cash Contributions

Non-cash awards should be established using values where an appraisal has been provided or values deemed appropriate and reasonable by other independent means. A cost-benefit review should be done to determine if an independent appraisal is necessary.

The appraised value of non-cash contribution will be recorded as the installment and budget and expensed to the award using the Non-cash Award expenditure types and Non-cash Award Allowed Cost Schedule.

For detailed instructions on creating an award, refer to the work instruction Create an Award.

Non-cash awards should be established using the following key attributes:

Attribute

Value

Award Purpose

Program Support Non Cash

Gift Non Cash Program Support

Gift Non Cash Non Program Support

Billing Distribution Rule

Event

Revenue Distribution Rule

Cost

Cash Contributions

The cash contribution will be recorded as the installment and budget.

Cash awards should be established using the following key attributes:

Attribute

Value

Award Purpose

Gift Cash Program Support

Billing Distribution Rule

Event

Revenue Distribution Rule

Cost

Attribute

Value

Award Purpose

Gift Cash Non Program Support

Billing Distribution Rule

Event

Revenue Distribution Rule

Event (when the event is entered for the invoice revenue will automatically generate equal to the amount of the invoice).

Note: An event should be created for the amount of the cash received.

Expensing Non-Cash Contributions

When the contribution is received, Non-cash receipts should be expensed in the grants system via Pre-Approved Batches as "Usage Charges." The expenditure type should correspond to the type of receipt.

Examples:

Reporting

For purposes of reporting, the values of Gift Cash Program Support expenditures will be included in the SPAR report and the Total Activity Report under Sponsored Program activity.

For Gift Cash Non Program Support, the values will be recorded in the Corporate Activity Report and the Total Activity Report under Corporate activity.

All Gift Non Cash values will be recorded in the Gifts and Contributions Report and the total Activity Report under their respective categories of Sponsored and Corporate activity.

Change History

 

 

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