University of Arkansas at Little Rock
Policy Name: Gift Processing and Acknowledgement
Policy Number: LR 206.7
Effective Date: October 31, 2007
Revised Dates: –
Most Recent Review Date: –
Philanthropy is based on voluntary action for the common good. To ensure that philanthropy merits the respect and trust of the general public, and that donors and prospective donors can have full confidence in the nonprofit organizations and causes they support, the Association of Fundraising Professionals (AFP), the Council for Advancement and Support of Higher Education (CASE), the American Association of Fund Raising Counsel (AAFRC), and the Association for Healthcare Philanthropy (AHP) established the Donors Bill of Rights. Article V of the Donors Bill of Rights declares that the donor has the right “To receive appropriate acknowledgment and recognition.”
It is best practice among the above-mentioned AFP, CASE, AAFRC, and AHP, that appropriate acknowledgment is defined as three (3) working days.
Any gift, no matter the amount, not processed or acknowledged in a timely manner is deemed unimportant by the institution. The importance of timing cannot be overstated. We must deliver processing and acknowledgment within a time frame that places importance on the gift and ensures confidence in our institution.
To fulfill the donor’s rights and to adhere to expected standards, the University of Arkansas at Little Rock sets forth the following policies:
- Any gift received by an academic or non-academic unit, no matter the amount, must be delivered to the Office of Development within 24 hours (or one business day) of receipt of the gift.
- Upon receipt in the Office of Development of a cash, check or authorized credit card gift, the processing, acknowledgment, and mailing the of IRS tax receipt will be completed by the Office of Development within three (3) business days.
Source: UA Little Rock Office of Development
Approved By: Bob Denman, October 31, 2007
Custodian: Office of Development