PCS 206: Acquisition of Gifts and Donations to the University

To properly acquire and record gifts and donations to the university

Property Control

Development Office

Any gift or donation acquired by or given to the university must be reported to the Development Office for the purposes of acknowledging the gift and issuing an official ASU gift receipt.

University employees shall not accept or solicit, directly or indirectly, anything of economic value as a gift, gratuity, favor, entertainment, or loan that is or may appear to be designed to influence official conduct in any manner, particularly from a person who is seeking to obtain contractual or other business or financial arrangements with the university (e.g., a vendor who has interests that might be affected substantially by the performance or nonperformance of the employee’s duty).

Such persons include both present and potential suppliers and contractors to the university and agents working on behalf of suppliers and contractors (see the Purchasing and Business Services Policies and Procedures Manual—PUR 104, “Gifts and Gratuities”).

A valuation review must be furnished to the Development Office for donated equipment having an estimated fair market value of $5,000 or more. The Development Office neither furnishes nor confirms an appraisal to the donor.

Donated equipment is recorded at fair market value at the date of the gift. In the absence of significant indications to the contrary, estimated fair market value is as stated by the donor.

Valuation methods are on a case-by-case basis depending upon the estimated fair market value and whether an independent appraisal is readily available. Valuation review methods include, but are not limited to, the following:

1. the net value of the equipment as stated by the donor (for new equipment)
2. a quotation obtained by Purchasing and Business Services (for donated equipment commonly sold through wholesalers)
3. an estimate by the director of Purchasing and Business Services based upon comparable items

   and

4. an estimate of knowledgeable persons employed by the university (for art objects and rare books).

All equipment contributions with a unit cost of $5,000 or more must have written indication that a valuation review has been made with the approval of the director of development and the associate vice president for Finance and treasurer, or designee. A photocopy will be furnished to Property Control.

The university may accept gifts of real property, provided that it will have full use and control of the property. Gifts and grants for the construction of capital projects must have prior approval from the Board of Regents. Management must submit estimated annual operating costs of the facility to the board for approval before accepting the gift.

Exception

Gifts and grants for routine repair or alterations.

For the university policy on gifts to university employees, see the Purchasing and Business Services Policies and Procedures Manual—PUR 104, “Gifts and Gratuities.”

For information on coordination between the Office for Research and Sponsored Projects Administration and the Development Office concerning gifts, see the Research and Sponsored Projects Policies and Procedures Manual—RSP 601, “Coordination with ASU Development Office.”

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