Depositing Gifts into UW Foundation Funds and 233- Projects
Overview of depositing gifts into UW Foundation Funds and 233- Projects, including how to determine if it is a gift, and whether it goes to UW Foundation or a UW 233- Project.
Is it a Gift or Grant?It's a GRANT if the giver requires detailed financial reports reports, claims rights, applies restrictions, expects specific deliverables, sets an end date, and/or can take back the money.
- Start a WISPER record and process like a proposal.
- Contact L&S pre-award (Linda Neusen, supervisor).
It's a GIFT if the money is unrestricted, for general purposes, and is irrevocable.
- Process as a gift with L&S Gift, Grants & Trust (Ben Ball).
- If the check is payable to "UW Foundation," use the UW Foundation Gift Deposit Form (Log in, hover over Fund Management in red navigation bar, select "Gift & Special Deposit" from the pull down menu) to deposit it into a departmental UW Foundation fund.
- If the check is payable to "UW-Madison" or "Dept of _____," use the Gift Check Routing Form to deposit it into a departmental 233- project.
- Attach documentation to your submission that proves the money is a gift. This documentation could be a copy of the correspondence from the donor, a letter, card, note, or email that indicates this is a gift or donation. Sometimes a donor will write "gift" or "donation" in the memo of the check, this is sufficient documentation. This documentation becomes part of the record that proves the money was a gift and not a grant.
- What if there is no correspondence from the donor? Attach a copy of the gift acknowledgment letter. The department is required to send a gift acknowledgement letter to the donor, so you should prepare this letter whether or not you need it as documentation for your gift deposit. Here's more info about gift acknowledgment: https://kb.wisc.edu/ls/page.php?id=42818.
THINGS TO REMEMBER:
- Anything that can be paid by UW funding sources cannot be paid by UW Foundation.
- Anyone can donate to UW Foundation or to the UW.
- Some things cannot donate: governmental agencies, including Universities, cannot give gifts.
UW FOUNDATION CHECK REQUEST (login, click on Fund Management in red navigation bar, select "Check/ACH Request" from the pull down menu)GIFT CHECK ROUTING FORM (Select Gift Routing form in "Routing and Approvals section of page, on next window select "Check Routing Form - Create New Entry")
UW FOUNDATION: 1848 University Avenue, 263-4545
UW Foundation Management System
ACCOUNTING SERVICES: 21 N. Park St. Suite 6101, 262-1214
http://www.bussvc.wisc.edu/acct/acct.html Gifts: http://www.bussvc.wisc.edu/acct/gifts/gifts.html
RSP: 21 N. Park St. Suite 6401, 262-3822
http://www.rsp.wisc.edu/ Gifts: http://www.rsp.wisc.edu/gifts/index.html
L&S: Ben Ball, 201D South Hall, 265-1170, firstname.lastname@example.org
Please send forms to Mary Machaj, 408 South Hall
- Original, no copies.
- No staples, use clips.
- Blue ink signature preferred.
- Questions? Contact Mary Machaj: 263:2316.
- Transferring Funds from UW Foundation to 233- Projects
- How to pay using UW Foundation Funds
- UW Foundation Overview
- How to clear overdrafts on 233-gift accounts
- Frequently Asked Questions about University Policies Related to UW Foundation Gifts and Other Accounts
- Gift Acknowledgment
- UW Foundation Accounting Structure, 2014