123 - Gift Acceptance

123 Gift Acceptance

P-123.0 The College welcomes gifts that support the mission, vision, and values of the College. The Foundation is the primary entity through which the College solicits and accepts gifts.
D-123.0 For the purpose of this policy and related procedures, gifts are defined as all donations, contributions, and bequests, including, but not limited to, cash (checks, credit card gifts), negotiable securities, real estate, jewelry, print and non-print library materials, artwork, and equipment or furniture to be used in instructional programs or College operations. These gifts may be presented to the Foundation for use as restricted or unrestricted purposes.
Pr-123.1 All institutional gifts will be reviewed by the Director of Development prior to acceptance. Any gift containing restrictions or conditions outside the normal scope of recognition and use will be reviewed by the Cabinet and, as necessary, by the Board of Trustees, prior to acceptance. The Foundation will advise the prospective donors that any such gifts are subject to the approval of the College. In compliance with IRS regulations, the donor will assume responsibility for appraisal of or for assigning a value to a gift.
Pr-123.2 Gifts accepted by the College and Foundation will have a purpose consistent with those of the College and Foundation. Gifts will not:
  1. bring undue or hidden costs to the College or Foundation,
  2. place restrictions on the College’s educational or cultural programs,
  3. imply endorsement of any business or product, or
  4. be in conflict with SCC policy or public law.
Pr-123.3 Donors are encouraged to make gifts to the College through the SCC Foundation.
Pr-123.4 Donors will receive timely acknowledgement in accordance with IRS regulations.
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