California State University, Bakersfield s7

Gift Processing Procedure

California State University, Bakersfield California State University, Bakersfield Foundation

VOLUME: Policy

TITLE: Endowment and gift agreements DIVISION: University Advancement DEPARTMENT: University Wide

I. Gift agreement A. Developing the agreement 1. The gift officer will meet with prospect to close the gift and develop the details of the agreement. 2. The agreement is reviewed by the Vice President of University Advancement/Executive Director of the CSUB Foundation (VPUA) for clarity, ease in the administration of the gift, and compliance with existing CSU and CSUB policies. 3. Any requested corrections or adjustments are made and two copies of the final document are printed. 4. The gift officer will revisit the donor(s) and will have both copies of the agreement signed. 5. The gift officer will present a signed agreement to the VPUA for signature. 6. The VPUA obtains signature of President. 7. One copy of the final signed form is returned to the donor with a thank you letter. 8. The gift officer will assure that additional letters of thanks will come from appropriate deans, faculty, students or administrators.

B. Entering and maintaining backup 1. The gift entry person enters details from an original signed agreement - amount, payment period, donor names. 2. The gift entry person requests a new account to be opened in the name designated on the agreement. 3. A copy of the agreement and the request to open a fund account with accompanying approved signatures will be kept in the donor gift file. 4. Endowment, construction, or gift accounts may not be opened without a signed agreement and a signed fund account agreement. 5. An original signed gift agreement must always be kept on file.

C. Files 1. The following information will be retained in the University Advancement Central Records Files. a. The original signed endowment agreement

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b. The form to open the fund account. c. All correspondence to and from the donor(s) d A copy of the annual endowment reports. e. All documentation that would be related to pledge payments, pledge reminders, check copies, etc. 2. To assure appropriate retention of original donor agreements and the accompanying donor files, endowment gift agreement files will be appropriately marked that they may not be removed from the Advancement office central donor file room.

HISTORY: March 10, 2009 REVISION: