Gift Acceptance Standards

AuthorityVice Chancellor for University Advancement
ContactAssociate Vice Chancellor for Advancement Services – (919) 513-2923
Governing PRRsPOL 03.00.01, Coordination of Fundraising Activities and Acceptance of Private Donations (Gifts) REG07.50.01, Real Property Transactions REG10.00.01, Donations of Intellectual Property to NC State University
Related IRSIRS Publication 1771, Charitable organizations: substantiation and disclosure requirements IRS Publication 526, Charitable Contributions
Effective DateFirst Issued: March 27, 2008 ————————— Last Revision Date: June 30, 2026

Purpose & Authority

These Gift Acceptance Standards establish the requirements for accepting, classifying, recording, receipting, and administering gifts and related transactions made to benefit NC State University and its University Associated Entities.

These Standards are issued under the authority of the Vice Chancellor for University Advancement in accordance with POL 03.00.01, Coordination of Fundraising Activities and Acceptance of Private Donations (Gifts). University Advancement is responsible for coordinating fundraising activities, supporting appropriate gift acceptance decisions, and maintaining accurate advancement records for gifts and related philanthropic commitments.

Compliance with these Standards is mandatory for all NC State University employees, foundations, and associated entities involved in soliciting, accepting, processing, recording, receipting, or administering gifts. No employee or unit may commit to accepting a gift, represent that a transaction is charitable, or promise donor credit or recognition before appropriate review has occurred.

These Standards are intended to ensure that gifts and related transactions are accepted and recorded in a manner consistent with University policy, donor intent, applicable law, IRS guidance, CASE Reporting Standards, accounting requirements, and the long-term interests of NC State University and its University Associated Entities.

Deviation from these Standards is prohibited without prior written authorization from the Vice Chancellor for University Advancement or the Vice Chancellor’s designee.

Table of Contents

 

Cash and Cash Equivalent Gifts

Cash Gifts

All cash gifts to NC State University or a University Associated Entity, except the Student Aid Association (Wolfpack Club), are processed through Gifts & Records Management (GRM) within Advancement Services.

Definition of Cash Gifts

Cash gifts include:

  • Currency and checks
  • Credit card payments
  • Electronic Funds Transfers (EFT)
  • Wire/ACH transfers
  • Payroll deduction
  • Bank draft transactions
  • Recurring credit card gifts
  • IRA charitable rollovers

Cash gifts may be delivered in person, by mail, electronically, or by wire transfer.

Deposit and Payee Requirements

To be credited to a University Associated Entity project, the gift must have been solicited in the name of that entity.

Checks must be payable to the entity in which the gift will be deposited or be accompanied by donor documentation directing the designation of the funds.

Checks made payable directly to a University Associated Entity will be deposited in accordance with the NCSU University Check Guidelines established by Advancement Services and Foundations Accounting & Investments (FAI).

Payment-Specific Requirements

Credit Card Gifts

The name on the credit card must match the donor making the gift. The credit card holder will be recorded as the legal donor. Credit card gifts should be initiated via the university’s online giving form.

Recurring credit card gifts are established and managed through the university’s online giving form. Credit card numbers must never be retained within any NC State system or office.

Wire/ACH Transfers

Development offices must notify GRM when a wire or ACH transfer is anticipated.

Foreign Currency

Gifts of foreign currency are valued based on the U.S. dollar equivalent on the date received.

FAI is responsible for currency conversion and for communicating the converted amount to the receiving development office and GRM. Any conversion fees will be deducted from the gross proceeds of the gift but will not impact the charitable gift amount.

Payroll Deduction

University payroll deduction gifts may be established, modified, or discontinued through the NC State Employee Payroll Portal. Donors may contact GRM for assistance.

Bank Draft

Bank draft gifts may be established and managed through the university’s online giving form.

IRA Charitable Rollovers

IRA charitable rollover gifts are coordinated through the Office of Gift Planning (OGP). Donors must initiate the transfer through their IRA plan administrator.

IRA charitable rollover gifts do not qualify for a charitable income tax deduction. Donors will receive an acknowledgment letter, but not a charitable gift receipt.

Gift Date

GRM uses the processing date as the official institutional credit date and the date reflected on gift receipts. Donors may claim a different date for tax purposes depending on the delivery method and should consult their tax advisor regarding IRS requirements. GRM does not use postmark dates to determine year-end date of gift.

For gifts processed after December 31, the following statement will be included on January tax receipts:

Please Note: The process date on your gift receipt reflects when we processed your gift, and does not imply the date your gift was made. Please consult with your tax advisor for IRS requirements regarding deductibility of this gift for your specified tax year. Should you have any questions concerning this matter please contact us at giftsandrecords@ncsu.edu or 919-515-7827.

Donor Credit and Recognition

Cash gifts are credited at full cash value. The legal (hard) credit is assigned to the legal donor. Recognition (soft) credit is automatically assigned to a spouse or partner.

Additional recognition credit for entities such as:

  • Family foundations
  • Living trusts
  • Community foundations
  • Donor-advised funds
  • Closely held businesses

must be communicated to GRM by the receiving development office through the gift transmittal process.

If a check includes multiple names, legal credit will generally be assigned to the individual who signed the check.

Gift Receipting

GRM issues receipts in compliance with IRS Publication 1771. Receipts are issued for the full cash value of the gift, except for IRA charitable rollover gifts, which receive an acknowledgment letter only. GRM receipts gifts using the date the gift is processed. Receipts are generally mailed within two business days of processing. Donors should consult a tax professional regarding questions of deductibility or tax treatment.

Employer Matching Gifts

Employer-sponsored matching gifts may be received from a company or company-sponsored foundation that matches a donor’s contribution to the University or a University Associated Entity.

GRM is responsible for reviewing, accepting, and processing matching gifts in accordance with the matching company’s policies and eligibility requirements. If a gift is not eligible under the company’s matching gift policy, GRM must decline the matching gift request.

GRM is responsible for processing and recording all matching gifts except those designated for the Wolfpack Club.

Matching Gift Eligibility and Restrictions

  • Matching gifts must generally be credited to the same fund or account as the original gift unless allowed by the matching company’s policy.
  • Potential matching gifts may not be recorded as part of a donor’s pledge commitment, as the donor does not have legal control over or irrevocable entitlement to the matching funds.
  • When the original gift is a gift of securities, the matching amount will be based on the securities’ internally recorded value rather than the net sale proceeds.
  • GRM may only approve matching gift requests for the charitable value of a gift. If the original gift included goods, services, benefits, or other quid pro quo value, only the charitable portion of the contribution may be approved for matching.

Donor Credit and Recognition

  • The matching company receives legal (hard) credit for the matching gift.
  • The original donor receives recognition (soft) credit and applicable giving society recognition associated with the matching contribution.

Gift Receipting

GRM will issue receipts for matching gifts only upon request from the matching company.

Donor Advised Funds and Community Foundations Grants

Donor-advised funds (DAFs) and community foundations (CFs) are independent 501(c)(3) charitable organizations. A donor may recommend that a DAF or CF make a grant to NC State University or a University Associated Entity from funds previously contributed to the sponsoring organization.

Restrictions and Tax Treatment

Gifts from a DAF or CF may not directly fulfill a donor’s binding pledge obligation. However, a DAF or CF grant may be used to fulfill a donor’s non-binding intent commitment.

Because the donor receives the charitable tax deduction at the time the contribution is made to the DAF or CF, no charitable tax receipt will be issued to the recommending donor when the grant is distributed to the University or Associated Entity.

Donor Credit and Recognition

  • The DAF or CF receives legal (hard) credit for the gift.
  • The recommending donor receives recognition (soft) credit and applicable giving society recognition. Recognition credit is also automatically assigned to the spouse or partner.
  • Because donor relationships to DAFs and CFs are not always apparent, the receiving development office must notify GRM through the gift transmittal process when additional recognition credit should be assigned.

Gift Receipting

GRM will issue a receipt only to the sponsoring DAF or CF organization. GRM will issue an acknowledgment letter to the recommending donor.

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Non-Cash Gifts

Publicly Traded Securities

Gifts & Records Management (GRM) is responsible for processing gifts of securities made to NC State University or a University Associated Entity, except the Student Aid Association (Wolfpack Club).

Note: Gifts intended for the Student Aid Association (Wolfpack Club) must be delivered directly to the Wolfpack Club brokerage account and not to an account managed by FAI. Securities intended for the WPC delivered to another foundation account may need to be returned and retransferred.

The following types of securities are generally acceptable as outright gifts, pledge payments, or funding vehicles for deferred gifts:

  • Publicly traded stocks, bonds, and other securities are traded on national exchanges
  • Mutual fund shares
  • Dividend Reinvestment Plan (DRIP) accounts, including fractional shares

Closely held/non-publicly traded securities will require additional review. See Non-Standard & Complex Asset gifts.

Transfer and Delivery Methods

Securities may be transferred through:

  • Electronic transfer via the DTC system
  • Physical stock certificates via mail or personal delivery
  • Reissuance of shares by the transfer agent in the name of the University or University Associated Entity

GRM will provide transfer instructions to the donor or advisor and assist with any required documentation, including stock powers and donor letters of instruction for certificate-based transfers. Signature guarantees from a commercial bank or brokerage firm may be required.

Development staff should notify GRM as soon as they become aware of an anticipated securities transfer. Stock gift information may be sent to stockgifts@ncsu.edu.

Required transfer information includes:

  • Donor name
  • Name of security
  • Number of shares
  • Receiving account information

Valuation and Gift Receipting

For internal recording purposes, the value of the gift is based on the average of the high and low trading prices on the date of gift. The gift date for gifts of securities is generally the date the University or University Associated Entity obtains ownership or control of the securities, whether through electronic transfer, physical delivery, or transfer agent registration.

GRM will issue the gift receipt based on this internally recorded value and the date the transaction is processed.

The internally recorded value should not be interpreted as the charitable deduction value for tax purposes. Donors should consult their tax advisor regarding the charitable value and date of gift.

Sale of Securities

Upon receipt of the securities, GRM will notify FAI to initiate the sale process. Securities are generally sold within one business day of receipt.

Any difference between the internally recorded value and the actual sale proceeds will be reflected as a gain or loss within the receiving/benefiting fund when posted by FAI.

When securities are used to satisfy a pledge commitment, the pledge balance will be reduced by the amount of the legal (hard) credit as calculated by GRM.

Cryptocurrency

Gifts of cryptocurrency (convertible virtual currency) will be evaluated by the Gift Acceptance Committee on a case-by-case basis. The following applies to gifts of cryptocurrency:

  • Any gifts of cryptocurrency to be accepted will be received and converted to US Dollars via a third-party relationship such as Fidelity Charitable, or similar.
  • Because of the volatility of the value of cryptocurrencies, unlike gifts of marketable securities, the internal gift value recorded in the advancement CRM and used to meet endowment minimums and naming opportunity minimums will be the amount in US Dollars after conversion, not the value at the time of transfer from donor.
  • Gifts of cryptocurrency made anonymously (not confidential) will not be accepted.
  • All gifts of cryptocurrency are considered irrevocable upon conversion to US Dollars and may not be refunded.
  • Encourage donors to consult with a tax advisor prior to making a gift of cryptocurrency.

Mineral Rights and Royalty Interests

Mineral rights, oil and gas interests, royalty interests, timber rights, and similar natural resource assets may be accepted only after review and approval by the Gift Acceptance Committee (GAC).

These assets may present significant legal, environmental, valuation, administrative, and financial considerations. Prior to acceptance, the University or University Associated Entity may require due diligence to evaluate:

  • Ownership and title
  • Existing leases, contracts, or encumbrances
  • Current and projected income streams
  • Environmental liabilities or obligations
  • Administrative and management requirements
  • Marketability and liquidation potential

The donor is responsible for providing any documentation reasonably requested to facilitate the University’s review of the asset.

The University or University Associated Entity may elect to retain or liquidate the asset following acceptance, consistent with donor restrictions and institutional needs.

Valuation and Documentation

The donor is responsible for obtaining any appraisal, valuation, or substantiation documentation required for tax purposes.

Because mineral rights and royalty interests often involve complex valuation considerations, the University may require independent documentation of value before the gift is recorded.

Donor Credit and Recognition

  • The internal gift value of current gifts of mineral rights or royalty interests will be determined by the Gift Acceptance Committee.
  • Bequest or other deferred gifts of mineral rights or royalty interests will be recorded at $1.00 until realized.
  • The donor is responsible for obtaining any appraisal, valuation, or substantiation documentation required for tax purposes.

Gift Receipting

Gift receipts will describe the mineral rights, royalty interests, or other natural resource interests received but will not assign a value to the gift.

The gift date is generally the date ownership and control of the asset are transferred to the University or University Associated Entity.

Non-Standard & Complex Assets Gifts

Under certain circumstances, the University or a University Associated Entity will accept gifts of securities that are not traded on a public stock exchange or that are subject to restrictions or other complexities. These might include:

  • Restricted stock
  • C Corporation stock
  • S Corporation stock
  • Membership Interests in Limited Liability Companies
  • Limited Partner Interests in Limited Partnerships

These gifts must be approved by the Gift Acceptance Committee (GAC).

Gifts of Tangible and Intangible Personal Property

Gifts of tangible and intangible personal property require review and approval prior to acceptance to ensure compliance with Internal Revenue Service (IRS) regulations, University policy, operational considerations, and donor expectations.

University employees should not commit to accepting a gift-in-kind or represent that a gift is tax-deductible before appropriate institutional review has occurred.

Gifts & Records Management (GRM) and, when appropriate, the Gift Acceptance Committee, must be consulted before accepting or promoting gifts of personal property.

Types of Personal Property

Gifts of personal property may include tangible property, such as:

  • Artwork
  • Books and archival materials
  • Equipment and machinery
  • Furniture
  • Vehicles
  • Animals
  • Computers and lab equipment

Personal property may also include intangible property, such as:

  • Software or software licenses
  • Patents
  • Copyrights and intellectual property

Charitable Contribution Considerations

To qualify as a charitable contribution, the donor must generally:

  • Fully transfer ownership and control of the property to the University or University Associated Entity
  • Contribute the donor’s entire interest in the property and not retain a partial interest or continuing control, unless otherwise permitted by IRS regulations
  • Obtain and maintain any substantiation or appraisal documentation required by the IRS

The amount of any allowable charitable deduction may also depend on factors such as:

  • Whether the property is related to the University’s charitable or educational purpose
  • How the University intends to use the property
  • How long the donor owned the property
  • Whether the donor created the property

Donated services are generally not considered charitable contributions under IRS regulations and are not eligible for charitable gift receipting or donor credit.

University employees should not provide tax advice or determine the value of donated property for donor tax purposes. Donors should consult their tax advisor regarding deductibility, valuation, and substantiation requirements.

Valuation and Documentation

The donor is responsible for obtaining and providing any appraisal or valuation documentation required for tax purposes.

For gifts for which the donor intends to claim a charitable deduction exceeding $5,000, the IRS generally requires a qualified appraisal prepared by a qualified appraiser in accordance with IRS requirements. Appraisal costs are the responsibility of the donor.

University employees may not provide appraisals or valuations for donor tax purposes.

IRS Form 8283

Donors may be required to complete IRS Form 8283 to substantiate non-cash charitable contributions. The donor or donor’s tax advisor is responsible for completing IRS Form 8283. The donor may submit the form to the University for completion of the donee acknowledgment section, when applicable.

Received IRS Form 8283 must be routed through GRM for institutional review and authorized signature.

Donor Credit and Recognition

Full transfer of ownership must occur before the gift may be recorded or acknowledged.

Gifts of personal property must be documented using the NC State Gift Transmittal form and submitted to GRM with all supporting documentation.

The donor’s giving record may receive legal (hard) credit based on the internal recognition value established for institutional recording purposes.

Recognition (soft) credit is automatically assigned to the donor’s spouse or partner. Additional recognition relationships must be communicated to GRM through the gift transmittal process.

Gift Receipting

The gift date for gifts of personal property is generally the date ownership and control are fully transferred to the University or University Associated Entity.

Gift receipts for gifts of property will describe the donated property but will not assign a value to the property.  If goods or services were provided in exchange for the contribution, the receipt will include a description and good-faith estimate of the value of those benefits.

Gifts of Real Property

Overview

Gifts of real property may include full or fractional interests in:

  • Residential property
  • Condominiums
  • Farms and timberland
  • Commercial property
  • Rental property
  • Vacant or unimproved land

Gifts of real property may provide significant benefit to the University through financial support, programmatic use, or other institutional purposes. However, real estate gifts may also create financial, legal, environmental, maintenance, or operational obligations for the University or a University Associated Entity.

University employees should not commit to accepting a gift of real property before appropriate institutional review and approval has occurred.

The University and University Associated Entities generally do not accept:

  • Timeshares
  • Cemetery plots
  • Gifts of bargain-sale real estate intended solely for resale

Consultation and Approval

All proposed gifts of real property must be reviewed in advance by the Office of Gift Planning (OGP) and Real Estate Development (RED).

The proposal must identify:

  • The proposed donee entity
  • Whether the property is intended for resale, programmatic use, or another institutional purpose
  • The anticipated financial and operational impact of the gift
  • Any proposed source of funds for carrying or maintenance costs

If the property is proposed for long-term programmatic use, a land use, management, or operational plan may be required.

Proposals must be approved by the applicable department head or program director and the appropriate dean or vice chancellor before institutional review proceeds.

RED will evaluate the proposed gift and coordinate the required due diligence process. The Office of General Counsel (OGC) may be consulted regarding legal matters associated with the property.

Final acceptance generally requires approval from:

  • The Vice Chancellor for University Advancement
  • The Vice Chancellor for Finance and Administration
  • Any additional governing board or entity required based on the proposed ownership structure

The Chancellor may approve exceptions to these guidelines when determined to be in the best interest of the University.

Acceptance Criteria

Real property gifts may be accepted when they provide a meaningful benefit to the University through one or more of the following purposes:

Property Intended for Resale

Real property may be accepted for immediate sale or short-term retention with the intent to liquidate the asset and use the proceeds to support University priorities.

Proposals should include:

  • A preliminary plan for sale or disposition
  • Identification of anticipated carrying costs
  • A proposed source of funds to cover expenses until sale
  • The anticipated use of net sale proceeds

Gifts intended primarily for resale are generally recommended to have a minimum estimated value of $100,000.

Programmatic Use

Real property may be accepted when the property directly supports teaching, research, extension, engagement, or other University programs.

Examples may include:

  • Research sites
  • Field laboratories
  • Demonstration areas
  • Educational facilities
  • Income-producing property supporting program activities

Proposals for programmatic use should identify:

  • The intended use of the property
  • The University program(s) supported
  • A management and maintenance plan
  • A financial plan supporting long-term operation and maintenance

Other Institutional Purposes

Real property may also be accepted when the property provides broader strategic or institutional benefit to the University.

Examples may include:

  • Future campus or facility development
  • Cooperative initiatives with governmental entities
  • Historically or culturally significant properties
  • Preservation of agricultural land or open space

Such proposals must include a compelling institutional rationale for acceptance.

Due Diligence

All gifts of real property require an appropriate due diligence review coordinated through RED and OGP.

Depending on the nature of the property, due diligence may include:

  • Deed and ownership review
  • Survey and property maps
  • Title review and title insurance
  • Environmental assessments
  • Inspection reports
  • Review of leases, liens, easements, restrictions, or covenants
  • Tax information
  • Marketability review
  • Litigation or dispute review

The scope of due diligence will be determined based on the nature and risks associated with the proposed property.

To allow adequate time for review, requests for initial review of real estate gifts intended for completion within a calendar year should generally be submitted to OGP no later than October 15.

Appraisals and IRS Considerations

Donors are responsible for obtaining any appraisal or substantiation documentation required for tax purposes.

If the donor intends to claim a charitable deduction, the IRS may require a qualified appraisal prepared by a qualified appraiser in accordance with IRS regulations. Appraisal costs are the responsibility of the donor.

University employees may not provide appraisals or determine property value for donor tax purposes.

IRS Form 8283 may be required for donor tax reporting purposes. Donors should route completed forms requiring an institutional signature through OGP.

Expenses

Expenses incurred primarily for the donor’s benefit, such as appraisals or deed preparation, are generally the responsibility of the donor.

Expenses incurred primarily for the protection of the University or University Associated Entity, such as environmental assessments, inspections, title review, or other due diligence costs, are generally the responsibility of the receiving entity.

Donors are encouraged to provide additional support to offset institutional due diligence or carrying costs when appropriate.

Completion of Gift

A gift of real property is generally considered complete upon delivery and acceptance of a properly executed deed transferring ownership to the University or University Associated Entity.

OGP will coordinate the completion of the transfer and recording of the deed.

Donor Credit and Recognition

Gifts of real property must be documented using the NC State Gift Transmittal Form and submitted to Gifts & Records Management (GRM) with supporting documentation.

The donor’s giving record may receive legal (hard) credit based on the internal recognition value established for institutional recording purposes.

Recognition (soft) credit is automatically assigned to the donor’s spouse or partner.

Gift Receipting

Gift receipts for real property will describe the property received, but will not assign a value to the property.

The gift date for real property is generally the date on which ownership is fully transferred to and accepted by the University or a University Associated Entity.

Raffles and Auctions

Auctions and raffles are subject to federal and state regulations and require advance review and approval.

Raffles

North Carolina law limits the number of raffles a state agency or nonprofit organization may conduct each calendar year. All raffles must be pre-approved by the Vice Chancellor for University Advancement to ensure compliance with applicable laws and university requirements.

The purchase of a raffle ticket is not considered a charitable gift under Internal Revenue Service (IRS) regulations. Therefore:

  • No charitable gift receipt will be issued
  • No donor gift credit will be provided

Refer to the Foundations Accounting & Investments (FAI) guidance regarding tax reporting requirements associated with raffle winnings.

Auctions

A charitable auction is a fundraising event where items or services are sold to the highest bidder, with the proceeds benefiting a specific charitable cause or organization. Items donated for charitable auctions are generally not considered related-use property under IRS regulations. Donors of auction items may be eligible for a charitable deduction related to the donated property, subject to applicable tax rules and limitations.

The fair market value of auction items must be clearly disclosed to bidders during the auction process. If a winning bid exceeds the stated fair market value, only the amount paid above the fair market value may qualify as a charitable contribution for the winning bidder.

Donors and bidders should consult their tax advisor regarding deductibility and reporting requirements.

Refer to the university charity auction guidelines for additional requirements and procedures.

Review and Approval

Departments must obtain approval from Gifts & Records Management (GRM) and FAI before promoting, soliciting, or accepting raffle prizes or auction items.

Departments should provide GRM and FAI with details regarding:

  • The proposed auction or raffle
  • The intended beneficiary
  • The nature of donated items
  • The planned handling of proceeds

If proceeds will benefit a Ledger 7 project, approval from the Cost Analysis Office must also be obtained before solicitation begins.

Gift Receipting

Receipts for donated auction or raffle items will describe the donated property but will not assign a value to the item. Receipts for donated auction items will only be issued after:

  • The auction has concluded, and
  • The donated item has been successfully sold

If an auction item is not sold, the item should be returned to the donor, and no receipt will be issued.

Receipts will be issued to auction purchasers only when the winning bid exceeds the item’s disclosed fair market value. In those cases, the charitable contribution is limited to the amount paid above the fair market value.

Receipts will be issued only to purchasers when the winning bid exceeds the item’s stated fair market value. For example:

  • Winning bid: $500
  • Fair market value: $350
  • Charitable receipt amount: $150

Donations of, and winning bids for services or partial-interest gifts, such as the temporary use of a vacation home, condominium, or similar property, are generally not considered tax-deductible charitable contributions under IRS regulations. As a result, charitable gift receipts will not be issued for these types of auction items.

Bargain Sales

A bargain sale occurs when an individual or organization transfers property or tangible goods to the University or a University Associated Entity for less than fair market value. The charitable portion of a qualifying bargain sale is generally the difference between the fair market value of the property and the amount paid by the University or University Associated Entity.

Because bargain sales may involve complex tax, valuation, legal, and accounting considerations, Gifts & Records Management (GRM) must be consulted before a bargain sale is discussed, promoted, or accepted.

Valuation and Recording

For qualifying bargain sales involving property or tangible goods, the charitable portion is generally calculated as the difference between:

  • The fair market value or properly substantiated appraised value of the property; and
  • The amount paid by the University or University Associated Entity.

Qualifying bargain sales will generally be processed as gifts-in-kind and recorded in accordance with applicable IRS regulations, CASE Reporting Standards, and University gift recording standards.

Educational Pricing and Other Discounts

Educational pricing is a reduced price established by a vendor for eligible colleges, universities, or other educational institutions. Educational pricing is not a bargain sale or charitable gift, even when the educational price is lower than the price offered to the general public.

Standard institutional, governmental, volume, promotional, or commercially available discounts are also not charitable gifts.

No charitable gift credit or charitable receipt will be issued for educational pricing or other standard discounts. At the discretion of the receiving unit, a non-tax acknowledgment may be provided.

Services, labor, professional expertise, and similar activities do not qualify as charitable gifts under IRS regulations. Accordingly, donated or discounted services are not considered bargain sale gifts and are not eligible for charitable gift credit or charitable receipting.

Gift Receipting

For a qualifying bargain sale, the gift receipt will:

  • Describe the property transferred;
  • Identify the transaction as a bargain sale; and
  • Acknowledge any payment made by the University or University Associated Entity.

The receipt will not assign a value to the property or identify the deductible amount of the contribution.

No charitable gift receipt will be issued for:

  • Educational pricing;
  • Standard institutional, governmental, volume, promotional, or commercially available discounts;
  • Discounts on services, labor, or professional expertise; or
  • Other transactions that do not qualify as charitable contributions under IRS regulations.

The gift date for a bargain sale is generally the date ownership and control of the property are transferred to the University or University Associated Entity.

The donor is responsible for determining any allowable charitable deduction and should consult a tax advisor regarding valuation, deductibility, and applicable reporting requirements.

Gifts Requiring Additional Review or Approval

Certain non-cash gifts require additional review and approval prior to acceptance because they may involve tax, legal, valuation, administrative, environmental, donor relations, or reputational considerations.

The following gifts generally require review and approval prior to acceptance:

  • Gifts unrelated to the University’s charitable or educational purpose
  • Gifts intended for immediate resale or liquidation, including auction items
  • Software, software licenses, patents, copyrights, and other intellectual property
  • Gifts involving inventory, business assets, donor-created artistic property, Section 306 stock, depreciation recapture property, or other property with specialized tax considerations
  • Gifts with significant maintenance, storage, insurance, environmental, legal, or administrative obligations
  • Partial-interest gifts or gifts where the donor retains ownership, control, or usage rights
  • Gifts subject to restrictions that may limit the University’s ability to use, manage, sell, or dispose of the property
  • Real property or personal property with known environmental, title, lien, or liability concerns
  • Other unusual, complex, or high-risk assets requiring additional due diligence

Acceptance of these gifts requires approval by the Gift Acceptance Committee (GAC).

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Deferred Gifts

Life Income Gifts

Life income gifts, also known as split-interest gifts, provide income to one or more individuals for life or a term of years, with the remaining assets ultimately benefiting the University or a University Associated Entity.

These gifts generally include:

  • Charitable Remainder Trusts (CRTs)
  • Charitable Gift Annuities (CGAs)

Because life income gifts involve legal, tax, financial, and administrative considerations, the Office of Gift Planning (OGP) must be consulted before discussing, promoting, or accepting any life income gift arrangement.

Charitable Remainder Trusts (CRT)

Charitable remainder trusts may include annuity trusts, unitrusts, FLIP unitrusts, and similar arrangements.

General guidelines for CRTs include:

  • Minimum gift amount: $100,000
  • Maximum payout rate: generally 7%, depending on donor age, term, and funding level
  • Minimum beneficiary age: 50, unless structured for a term of years
  • Permitted funding assets may include:
    • Cash
    • Marketable securities
    • Real estate
    • Appreciated assets
    • IRA qualified charitable distributions, when permitted by law

The University or University Associated Entities should collectively receive no less than 50% of the charitable remainder interest.

For CRTs funded solely with cash, securities, or similar liquid assets, the University or University Associated Entity may serve as Trustee. For CRTs funded with real estate or illiquid assets, the donor or another party will generally serve as Trustee until the assets are liquidated.

Charitable Gift Annuities (CGA)

Charitable gift annuities provide fixed payments to one or more beneficiaries in exchange for a charitable contribution.

General guidelines for CGAs include:

  • Minimum gift amount: $10,000
  • Maximum payout rate: the rate recommended by the American Council on Gift Annuities (ACGA), not to exceed 9%
  • Permitted funding assets may include:
    • Cash
    • Marketable securities
    • IRA qualified charitable distributions, when permitted by law

Minimum beneficiary ages:

  • Immediate annuity: age 50
  • Deferred annuity: age 40, with payments deferred until at least age 55

Exceptions and Approval

Exceptions to these guidelines require approval from both:

  • The Vice Chancellor for University Advancement
  • The Vice Chancellor for Finance and Administration

Administration and Agreements

All life income gifts must be coordinated through OGP.

OGP will coordinate:

  • Due diligence and review
  • Preparation or review of gift agreements
  • Asset transfer coordination
  • Required disclosure and tax documentation
  • Coordination with Foundations Accounting & Investments (FAI) and Gifts & Records Management (GRM)

Costs associated with establishing a life income gift arrangement, including legal, appraisal, or other professional fees, are generally the responsibility of the donor.

Life income gift agreements involving a University or University Associated Entity as a party to the agreement or Trustee must be executed by the appropriate authorized institutional officers.

IRS Form 8283

Donors may be required to complete IRS Form 8283 for certain non-cash contributions associated with life income gifts. Preparation of the form is the responsibility of the donor or the donor’s tax advisor.

Completed forms requiring institutional signature must be routed through OGP for review and signature coordination.

Donor Credit and Recognition

The donor’s giving record may receive legal (hard) credit based on the calculated charitable remainder interest as determined under applicable IRS rules at the time of the gift.

Recognition (soft) credit may be recorded based on the fair market value of the contributed assets for donor recognition purposes.

Questions regarding life income gift crediting should be directed to OGP.

Gift Receipting

Gift receipts for life income gifts will describe the nature of the gift arrangement but will not assign a value to the gift.

The gift date is generally the date the life income gift agreement becomes irrevocable and the contributed assets are transferred to the applicable entity or trust arrangement.

Revocable Gifts

Revocable gifts are future charitable commitments that may be changed or revoked by the donor during their lifetime. These gifts generally become irrevocable only upon the donor’s death.

Examples of revocable gifts include:

  • Bequests through a will or revocable trust
  • Retirement plan beneficiary designations
  • Life insurance beneficiary designations
  • Annuity beneficiary designations
  • Other revocable estate planning arrangements

Because revocable gifts involve estate planning and deferred giving considerations, the Office of Gift Planning (OGP) should be consulted whenever a revocable gift is being discussed or documented.

Documentation Requirements

To record a revocable gift, the donor must generally provide:

  • A signed Statement of Intent (SOI)
  • Documentation of the gift provision
  • The intended designation or purpose of the gift
  • The donor’s current estimated value of the gift, if available

Examples of acceptable documentation include:

  • Relevant will or trust language
  • Beneficiary designation forms
  • Life insurance beneficiary confirmations
  • Retirement account beneficiary confirmations
  • Other estate planning documents identifying the University or University Associated Entity as a beneficiary

The gift provision must be active and in force before a Statement of Intent may be recorded in the advancement CRM.

Documentation Exceptions

If the donor declines to provide a copy of the gift provision or indicates it will be provided at a later date, the Gift Officer may submit a memorandum to OGP documenting:

  • The reason the donor is declining or delaying documentation
  • Confirmation that the provision is currently active
  • The plan to obtain documentation in the future, if applicable
  • Confirmation that the purpose of the documentation requirement was discussed with the donor
  • Any information known regarding the gift provision through conversations with the donor

OGP will review the documentation and determine whether the gift may be recorded.

Undocumented Planned Giving Intentions

In some instances, a donor may inform the University or a University Associated Entity of a planned gift informally, such as through:

  • A survey response
  • Donor correspondence
  • A conversation or visit report
  • An annual giving response device
  • Other informal communication

Absent a signed Statement of Intent and supporting documentation sufficient to record a revocable gift, the planned gift may not be recorded as a deferred gift commitment.

The Office of Gift Planning (OGP) will make reasonable efforts to obtain the documentation necessary to record the gift. If sufficient documentation cannot be obtained, OGP may record the donor’s stated intention in the advancement CRM for stewardship and relationship management purposes; however, no gift transaction or deferred gift commitment will be recorded.

Contingent Revocable Gifts

A contingent revocable gift is a revocable gift that will be received by the University or a University Associated Entity only upon the occurrence of a future event, such as the death of another beneficiary.

Contingent revocable gifts may be recorded at their estimated value when documentation demonstrates a reasonable likelihood that the University or University Associated Entity will ultimately receive the gift.

Examples include:

  • Mirror estate provisions in which spouses have documented the same charitable provision in their estate plans
  • Retirement accounts where the primary beneficiary has agreed in writing to designate the University or University Associated Entity as beneficiary upon inheriting the account

For retirement account beneficiary designations, the Office of Gift Planning (OGP) will coordinate any required documentation.

If sufficient documentation is not available to demonstrate a reasonable likelihood that the gift will ultimately be received, the contingent revocable gift will be recorded at $1.00.

Exceptions may be approved by the Vice Chancellor for University Advancement when the documented terms of the gift demonstrate a reasonable likelihood that the University or University Associated Entity will receive the gift.

Reevaluation of Revocable Gifts

Previously recorded revocable gifts may be reevaluated when updated information supports a material change in the estimated value of the gift.

Standard Reevaluation

A reevaluation may be completed when:

  • At least four years have elapsed since the most recent valuation; and
  • The updated estimated value increases by at least $100,000.

A new Statement of Deferred Gift must be completed to document the revised value.

If documentation of the gift provision was not previously provided, supporting documentation must be submitted before the reevaluation may be recorded.

Immediate Reevaluation

The four-year waiting period may be waived when documentation supports a material change in the donor’s gift commitment or circumstances, including:

  • A revised gift amount or percentage confirmed by the donor
  • A change in gift structure, such as a percentage bequest becoming a fixed-dollar bequest
  • A significant change in the donor’s financial, family, or estate-planning circumstances that materially affects the estimated value of the gift

All reevaluations are subject to review and approval by the Office of Gift Planning.

Recording and Valuation

Upon review and approval, OGP is responsible for preparing the appropriate transmittal documentation and coordinating recording with Gifts & Records Management (GRM).

If the donor provides only a percentage interest of an estate and does not provide an estimated value, the gift will be recorded at $2.00 until a documented estimated value is provided.

Donor Credit and Recognition

Revocable gifts are recorded in accordance with University Advancement gift recording standards and applicable CASE reporting guidelines.

Questions regarding the documentation, recording, or valuation of revocable gifts should be directed to the Office of Gift Planning.

Realized Bequests

Unrestricted Realized Bequests

Unrestricted bequest distributions received by the University (and not a University Associated Entity) will be allocated as follows:

  • Bequests less than $100,000 will be deposited into the University Enhancement Fund within the Endowment Fund. The University Enhancement Fund is an unrestricted endowment administered at the discretion of the Chancellor.
  • Bequests of $100,000 or greater will be referred to the Vice Chancellor for University Advancement and the University Treasurer, who will coordinate with the Chancellor to determine the appropriate allocation and use of the funds.

Unrestricted bequest distributions received by a University Associated Entity will be allocated in accordance with the direction of the entity’s Board of Directors.

Restricted Realized Bequests

When the University or a University Associated Entity receives a realized bequest subject to a restriction, whether contained in the estate document or established through a prior gift agreement, the gift and supporting documentation will be reviewed by Donor Services and Foundations Accounting & Investments (FAI) to ensure the gift can be administered in accordance with the donor’s intent and University policy.

If the restriction is unclear, outdated, impractical, or otherwise presents administrative concerns, the Gift Acceptance Committee (GAC) may be consulted to determine an appropriate course of action consistent with donor intent and applicable University policies.

The Office of Gift Planning (OGP) should review the underlying assets of any brokerage, retirement, or other investment accounts prior to acceptance and transfer to ensure the assets are appropriate for the University or University Associated Entity to receive.

Charitable Lead Trusts

A charitable lead trust (CLT) is a trust arrangement that provides payments to one or more charitable beneficiaries for a specified period of time. At the end of the trust term, the remaining assets pass to one or more non-charitable beneficiaries, typically family members or heirs.

Because charitable lead trusts involve complex legal, tax, and valuation considerations, the Office of Gift Planning (OGP) should be consulted whenever a charitable lead trust is being considered or documented.

Neither the University nor a University Associated Entity will serve as trustee of a charitable lead trust.

Recording and Valuation

The Office of Gift Planning (OGP) is responsible for reviewing charitable lead trust documentation and coordinating gift recording with Gifts & Records Management (GRM).

Distributions received from a charitable lead trust are generally recorded when received.

If the trust provides an irrevocable and dedicated stream of payments to the University or a University Associated Entity, future anticipated distributions may also be recorded in the advancement CRM. Up to five years of anticipated distributions may be recorded as a pledge. No pledge reminders will be generated for pledges recorded under this provision.

When a charitable lead trust is initially recorded, the present value of the future charitable income stream may also be recorded as a gift in accordance with University Advancement gift recording standards and applicable CASE reporting guidelines.

Questions regarding the recording or valuation of charitable lead trusts should be directed to OGP.

Donor Credit and Recognition

The donor’s giving record may receive legal (hard) credit for distributions received and amounts otherwise recorded under University Advancement gift recording standards.

Recognition (soft) credit is automatically assigned to the donor’s spouse or partner.

Gift Receipting

Gift receipts will be issued for distributions received from the charitable lead trust in accordance with applicable receipting requirements.

The gift date is generally the date the distribution is received by the University or University Associated Entity.

Life Insurance Gifts

Life insurance may be used in several ways to benefit the University or a University Associated Entity. Because insurance gifts involve complex tax, legal, and valuation considerations, the Office of Gift Planning (OGP) should be consulted whenever a life insurance gift is being considered.

Not all insurance policies are appropriate charitable gifts. OGP will evaluate each proposed gift and coordinate discussions with the donor, development officer, and insurance carrier, as appropriate.

Donor Retains Ownership

A donor may retain ownership of a life insurance policy while naming the University or a University Associated Entity as beneficiary.

When the donor retains ownership, the arrangement may be recorded as a revocable gift in accordance with the University’s revocable gift policies.

Premium payments made by the donor directly to the insurance company do not constitute charitable gifts to the University.

A term life insurance policy naming the University or a University Associated Entity as beneficiary may be documented and recorded as a contingent revocable gift in accordance with the University’s revocable gift policies; however, the policy itself will not be accepted as a charitable gift.

Transfer of an Existing Policy

A donor may transfer ownership of an existing life insurance policy to the University or a University Associated Entity while also naming the University or University Associated Entity as beneficiary.

The value of the gift is generally determined using IRS Form 712, prepared by the insurance carrier. The gift may be recorded at the value documented on IRS Form 712.

If future premiums remain due, the donor may make additional cash or securities gifts to the University or University Associated Entity to fund those premiums. Each premium payment will be recorded as a separate current gift.

New Policy Owned by the University

A donor may establish a new life insurance policy owned by the University or a University Associated Entity and name the University or University Associated Entity as beneficiary.

The initial premium payment will be recorded as a current gift. Subsequent premium payments made by the donor to the University or University Associated Entity for payment to the insurer will be recorded as separate current gifts.

Recording and Valuation

All life insurance gifts must be reviewed and coordinated through OGP.

Documentation supporting the gift, including ownership transfers and policy valuation information, must be provided before the gift may be recorded.

For policies transferred to the University or a University Associated Entity:

  • Legal (hard) credit will generally be recorded based on the value documented on IRS Form 712 at the time ownership is transferred.
  • Additional legal (hard) credit will be recorded for any subsequent premium payments made to the University or University Associated Entity.
  • Recognition (soft) credit may be recorded based on the policy’s face value to reflect the donor’s overall philanthropic commitment.

Recognition (soft) credit is automatically assigned to the donor’s spouse or partner.

IRS Form 8283

Donors may be required to complete IRS Form 8283 to substantiate certain non-cash contributions. Preparation of the form is the responsibility of the donor or the donor’s tax advisor.

Completed forms requiring institutional signature must be routed through OGP for review and signature coordination.

Gift Receipting

Gift receipts will be issued in accordance with applicable receipting requirements for the type of gift received.

The gift date is generally:

  • For transferred policies, the date ownership is transferred to the University or University Associated Entity.
  • For premium payments, the date the premium gift is received by the University or University Associated Entity.

Individual Retirement Account (IRA) Gifts

A Qualified Charitable Distribution (QCD), sometimes referred to as an IRA charitable rollover, allows eligible donors to make charitable distributions directly from an Individual Retirement Account (IRA) to a qualified charitable organization.

When permitted under applicable tax law, a QCD may allow a donor to exclude the distribution from taxable income and may satisfy all or a portion of the donor’s required minimum distribution (RMD).

Donors should initiate QCD gifts directly through their IRA plan administrator. Because IRA gifts involve tax and retirement account considerations, the Office of Gift Planning (OGP) should be consulted whenever an IRA gift is being considered.

Decedent IRAs

A decedent IRA, also known as an inherited IRA, is an IRA that has passed to a beneficiary following the death of the original account owner.

Because inherited IRAs are subject to special distribution and tax rules, donors and development officers should consult OGP regarding gifts involving inherited IRA assets.

Recording and Valuation

Gifts & Records Management (GRM) is responsible for recording IRA gift distributions in the advancement CRM and will coordinate with OGP as needed.

The donor’s giving record will receive legal (hard) credit for distributions received.

Recognition (soft) credit is automatically assigned to the donor’s spouse or partner.

Gift Acknowledgment

IRA Qualified Charitable Distributions do not qualify for a charitable income tax deduction because the donor is generally excluding the distribution from taxable income.

Accordingly, the University will provide an acknowledgment of the gift but will not issue a charitable gift receipt stating a deductible amount.

The gift date is generally the date the distribution is received by the University or University Associated Entity.

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Special Transactions

Sponsorships

Sponsorships are payments made by a business or organization in which there is no arrangement or expectation that the sponsor will receive a substantial return benefit in exchange for the payment. Sponsorships are commonly used to underwrite events and programs.

Simply labeling a payment as a “sponsorship” does not automatically qualify it as a charitable gift. The determination depends on whether the sponsor receives goods, services, advertising, or other benefits in return.

Review and Approval

All sponsorship arrangements must be reviewed and approved by Gifts & Records Management (GRM) before being promoted, marketed, or finalized to ensure proper gift and tax treatment. In instances where sponsorship funds are intended for a Ledger 7 project, approval from the Cost Analysis Office must be secured before any solicitation efforts commence.

The Office of Strategic Brand Management within University Advancement should also be consulted for complex, high-visibility, or university-wide sponsorship arrangements.

Gift and Non-Gift Treatment

Sponsorship payments are generally treated as charitable gifts when the sponsor receives only incidental recognition or acknowledgment.

If the sponsor receives goods, services, or benefits with measurable value, the fair market value of those benefits must be deducted from the sponsorship payment and treated as non-gift revenue (Other Income).

Examples of benefits that may reduce the charitable value include:

  • Event tickets
  • Meals
  • Hospitality
  • Other goods or services provided to the sponsor

Permitted Sponsor Recognition

Sponsors may receive recognition that acknowledges the sponsorship without constituting advertising. Permitted recognition includes:

  • Sponsor name, logo, website, location, or phone number
  • Value-neutral descriptions of products or services
  • Product line or service listings, no pricing
  • Logos or slogans that are part of the sponsor’s established identity
  • Display or distribution of products at the event

Prohibited Advertising Benefits

Sponsor recognition may not include advertising or promotional language, including:

  • Qualitative or comparative statements
  • Price information or discounts
  • Calls to action or inducements to purchase, sell, or use a product or service
  • Endorsements
  • Competitive advertising messages

If sponsorship benefits rise to the level of advertising, some or all of the payment may be treated as non-gift revenue.

Politically Affiliated Contributions

Certain contributions connected to political organizations, campaigns, or political action committees (PACs) require additional review.

Political Action Committee (PAC) Matching Programs

Some employers maintain Political Action Committee (PAC) matching programs through which an employee directs a corporate contribution to an eligible charitable organization.

Contributions received through these programs:

  • Are not charitable contributions
  • Are not tax deductible
  • Are not recorded in the advancement CRM
  • Are not included in fundraising or campaign totals
  • Are recorded as non-charitable revenue through Foundations Accounting & Investments (FAI)

No charitable gift receipt will be issued.

Direct Contributions from Political Organizations

Contributions received directly from a political action committee (PAC), political campaign, political party, or other political organization must be reviewed by the Gift Acceptance Committee prior to acceptance.

The University and University Associated Entities reserve the right to decline any contribution that may create legal, reputational, operational, or policy concerns.

Quid Pro Quo Contributions

A quid pro quo contribution is a payment made partly as a charitable contribution and partly in exchange for goods, services, admissions, memberships, or other benefits provided by the University or a University Associated Entity.

The charitable portion of a quid pro quo contribution is generally limited to the amount paid in excess of the fair market value of the goods or services received.

The sponsoring department is responsible for determining and documenting the fair market value of any goods, services, admissions, meals, memberships, parking, seating rights, or other benefits provided in connection with a contribution. Supporting documentation used to establish fair market value must be retained in accordance with University record retention requirements.

Gifts & Records Management (GRM) is responsible for determining the charitable portion of the contribution for gift recording and receipting purposes based on the information provided by the sponsoring department.

Gift receipts for quid pro quo contributions will include a description and good-faith estimate of the value of any goods or services provided, as required by Internal Revenue Service (IRS) regulations.

Benefits provided in connection with athletic seating, memberships, sponsorships, events, auctions, or similar activities may result in a quid pro quo contribution.

Donors should consult their tax advisor regarding the deductibility of any quid pro quo contribution.

Third-Party Fundraising and Crowdfunding

All fundraising activities conducted for the benefit of NC State University or a University Associated Entity must comply with University policy and should be coordinated with University Advancement.

Third-Party Fundraising

From time to time, individuals or organizations may establish fundraising campaigns intended to benefit NC State without the University’s knowledge, approval, or participation. Examples include crowdfunding websites, social media fundraisers, and other independently organized fundraising efforts.

These campaigns are not University-sponsored fundraising activities unless expressly approved by University Advancement.

Contributions made to a third-party fundraising campaign are generally not gifts to NC State University or a University Associated Entity. Accordingly:

  • Donors contributing to the third-party campaign are not eligible for charitable gift receipting from NC State.
  • Donors contributing to the third-party campaign are not eligible for donor credit in the advancement CRM.
  • The organizer of the fundraising campaign is responsible for transmitting the proceeds to the University or University Associated Entity.

When proceeds are subsequently received by the University or a University Associated Entity, donor credit and receipting will be determined based on the party making the contribution to the University.

Pooled Gifts

Efforts to aggregate or pool contributions from multiple donors to satisfy an endowment minimum, naming minimum, or other fundraising threshold must be reviewed and approved by Advancement Services prior to solicitation.

University Crowdfunding

University-sponsored crowdfunding initiatives must be conducted through approved University fundraising platforms and coordinated with University Advancement.

Units interested in establishing a crowdfunding campaign should consult the Executive Director of Annual Giving.

Non-Gift Revenue (Other Income)

Not all funds received by the University or a University Associated Entity constitute charitable gifts. Certain transactions may be recorded as non-gift revenue, commonly referred to as Other Income, when the payment does not meet the definition of a charitable contribution under Internal Revenue Service (IRS) regulations, CASE Reporting Standards, or University gift recording standards.

Examples of transactions that may be recorded as Other Income include:

  • Payments for goods or services
  • Advertising revenue
  • Event registration fees
  • Sponsorship payments that provide substantial benefits to the sponsor
  • Political Action Committee (PAC) matching program contributions
  • Royalties, licensing fees, or other contractual payments
  • Educational discounts or discounts on services
  • Other transactions determined not to qualify as charitable contributions

Other Income is not:

  • Recorded as a charitable gift in the advancement CRM
  • Included in fundraising or campaign totals
  • Eligible for charitable gift receipting
  • Eligible for donor credit or recognition credit unless otherwise approved by University Advancement

Questions regarding the classification of a transaction as a charitable gift or Other Income should be directed to Gifts & Records Management (GRM) prior to acceptance or processing.

Gifts, Grants and Contracts

The University, via a 3D Memo has defined the difference between gifts, grants, and contracts. Visit https://go.ncsu.edu/giftsgrantscontracts for more information and resources.

Name, Image and Likeness

Name, Image and Likeness (NIL) refers to the rights of student-athletes to receive compensation for the use of their name, image, and likeness. NIL activities may include endorsements, sponsorships, social media promotions, personal appearances, marketing activities, and other commercial opportunities.

NIL contributions are generally considered payments supporting compensation or commercial activities benefiting specific student-athletes and therefore, are not treated as charitable contributions to NC State University, the Student Aid Association (Wolfpack Club), or any other University Associated Entity.

As a result, NIL contributions:

  • Are not processed or receipted by Advancement Services
  • Are not recorded as charitable gifts to the University or University Associated Entities
  • Are not included in University fundraising totals, campaign totals, or advancement reporting

Donors should consult their tax advisor regarding the deductibility or tax implications of NIL contributions.

Wolfpack Club Credit

In limited circumstances, gifts received by the University or a University Associated Entity and processed by Gifts & Records Management (GRM) may also receive Wolfpack Club (WPC) lifetime giving credit.

Wolfpack Club lifetime giving credit is used in calculating priority points associated with NC State athletics seating and parking opportunities. While lifetime giving credit does not independently satisfy any required donation for the right to purchase seating, it may affect a donor’s seating or parking priority ranking.

Because the receipt of priority points may constitute a donor benefit, gifts receiving Wolfpack Club lifetime giving credit may have tax implications affecting charitable deductibility.

Accordingly, all solicitations, gift agreements, and receipts associated with gifts receiving Wolfpack Club lifetime giving credit must include the following statement:

This gift may receive Wolfpack Club lifetime giving credit, which is used in calculating priority points associated with the right to purchase NC State athletics seating and parking. This may impact the tax deductibility of your gift. Please consult your tax advisor.

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Pledges and Commitments

Pledges must be recorded in accordance with applicable Financial Accounting Standards Board (FASB) or Governmental Accounting Standards Board (GASB) requirements, Council for Advancement and Support of Education (CASE) guidelines, and Advancement Services procedures.

Required Documentation

Pledge commitments must:

  • Be in writing
  • Be signed by the donor
  • Include the pledge amount
  • Include the pledge period
  • Include the payment frequency and first payment date
  • State the gift designation, purpose, and any restrictions

Pledges are generally limited to a payment period of five years or less from the date signed. Exceptions require approval from the Vice Chancellor for University Advancement.

Payment Restrictions

A donor’s pledge may not be fulfilled using payments from a third party, including:

  • Donor-advised funds (DAFs)
  • Community foundations
  • Matching gift companies

When third-party payments are received toward a donor’s intended commitment, the pledge balance should be reduced administratively rather than formally paid by the third party.

Payments made with non-liquid assets, such as real estate or closely held securities, may be applied toward a pledge but may require additional review before recording.

Pledge Types

Unconditional Binding Pledge

An unconditional binding pledge is a legally enforceable promise to give that depends only upon the passage of time or demand for performance. No additional action or contingency is required by either the donor or the University before payment is due. These are recorded as Straight Pledges in Lobo.

Non-Binding Gift Intention

A non-binding gift intention is a donor’s documented intention to make a future gift, but it is not legally enforceable. This type of pledge is commonly used when the donor intends to utilize a donor-advised fund (DAF) or a community foundation grant to fulfill a pledge. These are recorded as Non-Binding Pledges in Lobo.

Conditional Pledge

A conditional pledge is contingent on the University meeting a future event, milestone, or requirement before the gift is payable. Conditional pledges:

  • Are not legally enforceable until the condition is satisfied
  • Are not counted in fundraising totals until the condition is fulfilled
  • Should only be accepted with approval from the Vice Chancellor for University Advancement

Conditions based solely on actions or events related to the donor will not be recorded as pledges.

Pledge Monitoring and Collection

Pledge Reminders

GRM is responsible for generating pledge reminders unless the receiving development office requests to manage donor communications directly. Pledge reminders are generally issued:

  • Thirty days before a scheduled payment due date
  • Thirty days after a missed payment due date

Pledges may be scheduled on monthly, quarterly, annual, or custom payment frequencies. Additional collection and reminder activity may occur in accordance with the Pledge Management Plan.

Pledge Management

Development officers are responsible for managing pledge fulfillment and donor follow-up. When a payment toward a pledge is received from a third party, the development office must notify GRM so the pledge balance can be adjusted appropriately.

GRM has an established Pledge Management Plan that articulates:

  • Reminder schedules
  • Delinquent pledge collection efforts
  • Pledge write-offs and adjustments

All recorded unconditional binding pledges are subject to audit confirmation. Development officers will be notified before auditors contact donors regarding pledge verification.

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General Provisions

Chartfield Requests

Foundations Accounting & Investments (FAI) is responsible for the approval and establishment of new foundation funds/projects (Ledger 6) and University endowment funds/projects (Ledger 7) within the financial system and the advancement CRM.

Requests to establish, modify, or inactivate foundation-related funds should be submitted through the Chartfield Request System, accessible through MyPack Portal.

The Chartfield Request System is a Financials module used to request:

  • New funds (Project IDs)
  • Modifications to existing funds
  • Inactivation of funds
  • Department (OUC) requests related to foundation and endowment activity

FAI strives to approve requests within two business days, provided all required information for setup in both the financial system and the advancement CRM has been submitted.

For more information, please review instructions for Chartfield Requests by visiting the FAI website or clicking the links below.

Fund Names

The naming of restricted and endowment funds must adhere to the established standards and conventions of NC State. Any proposed fund names that do not align with these naming criteria may necessitate a review and subsequent approval by the Gift Acceptance Committee. To maintain the University’s reputation, names that are frivolous, inappropriate, confusing, or otherwise reflect negatively on the institution must be avoided.

Gift Acceptance Committee (GAC)

The Gift Acceptance Committee may be convened to review and provide recommendations on the acceptance or the return of a gift to the University or a University Associated Entity.

The chair of the Gift Acceptance Committee shall be appointed by the Vice Chancellor for University Advancement. Members should include:

  • Associate Vice Chancellor of Advancement Services (Chair)
  • Associate Vice Chancellor of University Development
  • Executive Director of Gift Planning
  • Senior Director for Foundations Accounting & Investments
  • Assistant Vice Chancellor of Finance and Business
  • Director of Gifts and Records Management
  • Office of General Counsel Representative
  • Procurement and Business Services Representative
  • Other employees appointed by the Vice Chancellor for University Advancement

The committee may consult with university administrators on particular gifts, as deemed appropriate by the Vice Chancellor for University Advancement.

Gift Assessment Fee Exceptions

Any exception to the University Advancement Gift Assessment Fee (GAF) must be approved by the Chancellor or the Chancellor’s designee.

In rare circumstances, a donor or organization may require that a charitable gift not be assessed the GAF as a condition of the gift or grant. Requests for an exception should be reviewed in advance and submitted to the Associate Vice Chancellor for Advancement Services for appropriate approval prior to acceptance of the gift.

If an exception request is not approved, the receiving college or unit may elect to fund or offset the GAF internally to accept the gift.

Units should contact the Associate Vice Chancellor for Advancement Services for guidance regarding GAF exception requests and related procedures.

Refunding of Gifts

In rare circumstances, the University or a University Associated Entity may determine that a charitable gift should be returned or refunded. Refunds may occur when:

  • Returning the gift is determined to be in the best interest of the University or University Associated Entity,
  • Conditions associated with acceptance of the gift cannot or will not be fulfilled, or
  • A processing error by the donor or merchant generates a duplicate gift

Approval Requirements

Approval must be obtained before any commitment to the donor regarding a refund is made:

  • Under $10,000 require approval from the Associate Vice Chancellor for Advancement Services
  • $10,000 or greater requires approval from the Vice Chancellor for University Advancement

If approved, the refund request must be submitted to Gifts & Records Management (GRM) as a gift reversal request.

GRM will:

  • Coordinate processing the refund with Foundations Accounting & Investments (FAI)
  • Adjust the donor’s giving record and related gift reporting

An IRS Form W-9 will likely be required before issuing a refund. In certain situations, the University or a University Associated Entity may also be required to issue a Form 1099 for the refund.

If the donor previously claimed a charitable deduction for the refunded contribution, the donor may need to amend prior tax filings. Donors should consult their tax advisor regarding any tax implications associated with the refund.

Event Registration Refunds

The Director of Gifts & Records Management must approve any refund requests for non-charitable event registration fees. Typically, such requests must be submitted before the event date. Ideally, event registrations should be converted into charitable gifts rather than being refunded.

Transfer of Gifts

In rare circumstances, a donor may request that a charitable gift or established fund be transferred to another organization. Requests for transfer will be evaluated on a case-by-case basis and are not guaranteed.

To be considered for transfer:

  • The receiving organization must be recognized by the Internal Revenue Service (IRS) as a public charity under Section 501(c)(3) and be in good standing.
  • The receiving organization must agree to use the transferred funds in a manner consistent with the original charitable purpose and any applicable donor restrictions.
  • The transfer must be approved by the Vice Chancellor for University Advancement and the Board of Directors of the applicable University Associated Entity.

Unless otherwise approved by the applicable Board of Directors, only the original gift corpus will be eligible for transfer. Any accumulated investment earnings or appreciation will remain with the University Associated Entity.

For split-interest gifts, such as charitable remainder unitrusts (CRUTs) and charitable gift annuities (CGAs), the full account balance may be transferred if approved as part of the transfer arrangement.

University Faculty and Staff Gifts

University faculty and staff members, including spouses or partners, may make charitable gifts to the University or University Associated Entities, provided the gift does not result in an impermissible personal benefit, self-dealing arrangement, or conflict of interest.

Faculty and staff gifts must meet the following criteria:

  • Charitable intent must be the primary purpose of the contribution
  • The gift may not directly financially benefit the donor
  • The donor may not control the use of the funds for their personal benefit or future remuneration

Examples of Generally Acceptable Gifts

  • Gifts to enhancement or discretionary funds, including within the donor’s unit, when the fund supports broad unit purposes and expenditures
  • Gifts to scholarship funds when recipients are selected through standard university procedures
  • Gifts supporting buildings, capital projects, or broad institutional initiatives
  • Deferred gifts, such as estate gifts or charitable remainder trusts, realized after the faculty or staff member is no longer employed by the University
  • Donated honoraria, provided the donor does not retain control over the receiving fund. Please note that donated honoraria may still constitute taxable income to the faculty or staff member.

Examples of Generally Unacceptable Gifts

  • Gifts designated to directly support the donor’s own research activities
  • Gifts to support a professorship, chair, dean’s fund, coach fund, director’s fund, or similar position currently held by the donor

Review and Approval

Certain faculty and staff gifts may require review by the Gift Acceptance Committee to evaluate potential personal benefit, self-dealing concerns, or conflicts of interest.

Questions regarding faculty and staff gifts should be directed to the Associate Vice Chancellor for Advancement Services, who serves as Chair of the Gift Acceptance Committee.

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Abbreviations

ASAdvancement Services
CFCommunity Foundation
DAFDonor-Advised Fund
FAIFoundations Accounting and Investments
FMVFair Market Value
GACGift Acceptance Committee
GAFGift Assessment Fee
GAPGift Acceptance Policy
GRMGifts and Records Management
NILName, Imagine, and Likeness
OGCOffice of General Counsel
OGPOffice of Gift Planning
QCDIRA Qualified Charitable Deduction
REDOffice of University Real Estate & Development
UAEUniversity Associated Entity
VC of FAVice Chancellor for Finance and Administration
VC of UAVice Chancellor for University Advancement