11.3 Processing of Gifts

Policy Statement

The University of Illinois Foundation (UIF) exists for the purpose of assisting the University of Illinois System by providing security, solicitation, receipt, and acceptance services and other assistance to attract private gift funds to support system and university programs. Donors should be instructed to direct all gifts to UIF.

Reason for the Policy

Occasionally gifts are sent directly to a specific university or unit. These gifts may have been solicited through UIF, or sent to the university by the donor and should be redirected to UIF for processing according to these guidelines. Processing these gifts depends on whether they are monetary gifts (cash, checks, credit card transactions, or marketable securities) or gifts-in-kind (equipment, machinery, art, etc.).

Applicability of the Policy

This policy applies only to charitable contributions or proceeds from fundraising activities (such as raffles, auction receipts, special advancement-related events, etc.). It does not cover sponsored activities (see 16 Sponsored Programs) or other non-fundraising activities where no charitable tax deduction is generated by the transaction (i.e., registration fees for conferences and seminars held by the unit, sales of goods and services in self-supporting operations, etc.). For questions about processing or depositing money resulting from non-fundraising activities, see 10 Cash Handling.

Procedure

Depositing Monetary Gifts

All gifts and non-gift revenue checks should be forwarded to UIF’s Lockbox (University of Illinois Foundation, P.O. Box 734500, Chicago, IL 60673-4500), along with a completed Gift Transmittal Form and any related supporting documentation (e.g., letters, correspondence from the donor, envelope, etc.). It may also be necessary to request a new UIF and Banner gift fund if the gift received is for a new gift fund. See the table below for further details.

Processing Monetary Gifts (Cash, Checks, Credit Cards, and Marketable Securities)

Responsibility	Timing	Action
College/Unit	Same day as money is received from donor	Completes Gift Transmittal Form. Contact the Cash Receipts Office (cashdesk@uif.uillinois.edu or 217-244-2706) for instructions on how to process gifts of marketable securities. If needed, requests a new Banner fund. See the forms and instructions for requesting a new Banner gift fund at University Accounting and Financial Reporting forms. The Foundation Gift Fund Request Form and instructions for requesting a new UIF gift fund can be found at UIF Online / forms (indicate “New Designation Requested” on the Gift Transmittal Form). Send the Gift Transmittal Form and all original correspondence (including matching gift forms) to UIF’s Lockbox (P.O. Box 734500, Chicago, IL 60673-4500). If cash is received, prepare the corresponding Gift Transmittal Form and drop off at the relevant university address: UIC: Drop cash off at the Student Center East Tower, 750 E. Halsted Street, Suite 531, Chicago, IL 60607. UIS: Drop off at the Division of Advancement, One University Plaza, Springfield, IL 62703. UIUC: Drop cash off at the University of Illinois Foundation, 303 St. Mary’s Road, Champaign, IL 61820.
UIF’s Cash Receipt Office	Same day as stock or bond is received from donor.	For all stock or bond gifts, send the stock/bond powers in a separate envelope to UIF’s Cash Receipt Office (303 St. Mary’s Road, Champaign, IL 61820). Do not send the powers and certificate in the same envelope. (For questions regarding electronic transfers of stocks/bonds, contact UIF’s Cash Receipt’s Office for more information (217-244-2706).)
UIF’s Cash Receipts, Gift Processing, and Gift Administration Offices	Same day as receiving monetary gift/non-gift revenue, Gift Transmittal Form, and correspondence.	Reviews, enters, and deposits all monetary gift/non-gift revenue using UIF’s document manager, Hyland OnBase. Forwards the form to request a new UIF or university fund to the appropriate university, department, or unit for fund create coordination. Posts gift/non-gift revenue in UIF’s Tracking & Engagement Database (TED). Sends a tax receipt to the donor on behalf of the university and UIF.
UIF’s Gift Administration Office and Accounting Department	Within a few days of receiving new UIF fund request	Creates a new UIF fund. Coordinates with UAFR to create a Banner gift fund. Assigns the appropriate set of donor intent codes to the unit's request for a new Banner gift fund.
	On a daily basis	Provides the college/unit with a daily gift report (EGAD) from TED.
	On a weekly basis	Sweeps gift and non-gift balances from UIF to system or university.
	On a monthly basis	Sweeps endowment balances from UIF to system or university. Provides the college/unit with a monthly UIF accounting statement, including gift and non-gift totals for revenue.
UAFR	Within a reasonable amount of time after receiving the request from UIF	Creates new Banner gift fund ensuring the assigned NACUBO functions on the new gift fund are consistent with the donor intent codes assigned by UIF (see 11.10 Expenditure of Gift and Endowment Income Funds for more information) and communicates the new gift fund name and number to the applicable unit. Coordinates with UIF’s Accounting and Stewardship Services Offices to link UIF fund.
UAFR	On a monthly basis	Provides the college/unit with a monthly accounting statement of transactions.
College/Unit	Within a few days of receiving daily gift report from UIF	Acknowledges receipt of gift. Sends thank you letter on behalf of the college/unit. (This procedure is determined at the university/unit level. While not required, each college/unit is strongly encouraged to establish an acknowledgment policy based on the amount of the gift and the relationship with the donor.)
	On a regular basis	Reviews gifts received with the TED daily gift report on a donor-by-donor basis.
	On a monthly basis	Reconciles the monthly system, university, and UIF accounting statements from the system, university, and UIF. If any discrepancies exist, contact UAFR or UIF’s Gift Administration Office to correct the report.

Processing Estates, Trusts, and Other Beneficiary Arrangements

Units who receive correspondence relating to estates, trusts, or other beneficiary arrangements mentioning the University of Illinois Foundation (UIF), the University of Illinois, or a specific university unit must forward this information and related documentation to UIF Estate Administration, Office of Gift Planning and Trust Services, 217-244-0473 (estateinfo@uif.uillinois.edu).