Annual and Special Gift Policy

 

Subject: Annual & Special Gift Policy

Author:  Judy Singleton

Email:  jasing01@louisville.edu

Effective Date: 07/01/2015

Last Review Date: 10/01/2015

Reviewed by:  VPUA Leadership Team

Approved by: Keith Inman

Vice President, University Advancement

Revised:  08/11/2016

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Annual fund gifts are assessed an annual administration fee of 10%.  This fee is utilized to offset credit card bank processing fees, computer equipment and software costs associated with processing gifts, solicitation mailer printing and postage fees, and costs associated with the student calling program.

This policy was established to determine which gifts and pledges would be counted as annual and which would be counted as special.  The initial policy was adopted in August 2003.

NOTE:  Athletic gifts are not assessed the annual fee as these gifts are not solicited or processed by University Advancement.  This information is replicated in the VPUA database to provide a full overview of a donor’s philanthropic giving to the University.

 

DEFINITIONS

Annual Fund Gifts – most all gifts and pledges less than $25,000.  The majority of these gifts are made by alumni through the phonathon, direct mail, or via annual fund staff solicitations. 

Special Gifts – all gifts and pledges of $25,000 or higher.  These are typically gifts or pledges that have been made for a specific one-time request.  Special gifts are NOT assessed an annual administration fee.

GIFT CODING INSTRUCTIONS

All outright gifts of $24,999 or less are considered annual fund gifts.         

EXCEPTIONS:

  • All athletic gifts and pledges, regardless of the amount, get coded as special; unless the gift or pledge was solicited by phonathon or was made through payroll deduction.
  • All in-kind gifts and pledges, regardless of the amount, get coded as special.
  • All grants processed through Grants Management, regardless of the amount, get coded as special.