Operating Policy and Procedure
HSC OP: 02.04, Processing, Management, and Publicity of Gifts and Grants from Private Philanthropic Sources
PURPOSE: The purpose of this Health Sciences Center Operating Policy and Procedure is to set forth Texas Tech University Health Sciences Center policies and procedures related to processing, management, and publicity of all gifts, donations, and non-contractual grants from private philanthropic sources, e.g., individuals, foundations, and corporations.
REVIEW: This Health Sciences Center Operating Policy and Procedure will be reviewed on April 1 of each even-numbered year (ENY) by the Vice Chancellor for Institutional Advancement. Changes regarding financial procedures will be made with the concurrence of the Executive Vice President for Finance and Administration.
POLICY/PROCEDURE:
1. General.
a. Texas Tech University Health Sciences Center (TTUHSC) personnel shall not delay the processing of cash, securities, or other gift instruments. These documents shall not be retained or carried by employees except to facilitate their processing. Cash, securities, or other gifts shall be deposited within three working days; however, funds of more than $100 shall be deposited no later than the following day. All deposits shall be made in accordance with HSC OPs 50.08 and 50.26.
b. Gifts may be restricted as to use to a specific unit of TTUHSC or to the discretion of a particular member of the staff. However, such restricted gifts are acceptable only if they are applicable to existing programs and uses and with advance approval of the appropriate officer of the institution. Any such restrictions must be stated in writing by the donor.
2. Development Fee.
Effective in December, 2005, all development fees were eliminated. All estate gifts will be subject to a one-time 5% fee. In addition, an annual .5% fee will be charted to endowment funds (based on 12 quarter moving average market value).
Any fee waiver requests must be made in writing to the Vice Chancellor for Institutional Advancement (VCIA).
3. Receipts and Acknowledgment Letters. The Central Office of Institutional Advancement shall be responsible for generating the following acknowledgment letters/receipts to the donor for gifts made to TTUHSC and TTFI:
a. A letter receipt personally signed by the Chancellor to the donor if the gift is valued at $500 or more, including gifts-in-kind appraised at $500 or more.
b. A letter receipt bearing the scanned signature of the Chancellor to the donor if the gift is valued at less than $500.
c. In addition to the above, gifts restricted to a given college, school, department, or program may be acknowledged in writing by the President and/or an appropriate dean, chair, or director. Copies of such acknowledgments should be forwarded to the Central Office of Institutional Advancement. Copies are filed at the Central IA Office.
4. Publicity.
a. The VCIA, Director of Donor Relations and Campaign Events, and the Associate Vice Chancellor, in coordination with the faculty/staff contact person, the donor, and the Office of Communications and Marketing, is responsible for coordinating all publicity related to gifts. In all cases, any special desires of the donor and good taste will prevail.
b. Before any gift can be publicized, the faculty/staff contact person shall obtain the signature of the donor on a release form authorizing publicity of the gift.