The University of Georgia Foundation What is a Gift? :: Ways of Giving :: UGA Foundation

 


What is a Gift?

POLICY: 3.1
Effective Date: 01/01/2004
Last Updated: 01/12/2012
Policy Owner: Scott, Brandon

A gift is the irrevocable transfer of property or money to a qualified organization, and has no donor imposed conditions or control. A gift must be voluntary and must be made without the donor getting, or expecting to get, anything of equal value.

In order to protect the interests of UGA, UGAF, and the persons and other entities who support the programs of UGAF, these policies are designed to assure that all gifts to or for the use of UGA are structured to provide maximum benefit to both parties.

The goal is to encourage funding of UGA and UGAF without encumbering the organizations with gifts that may prove to generate more cost than benefit or that are restricted in a manner that is not in keeping with the goals of UGA.

To optimize funding from individuals and other entities, UGAF must be capable of responding quickly, and in the affirmative when possible, to all gifts offered by prospective donors. It is understood that, except where stated otherwise, these policies are intended as guidelines and that flexibility must be maintained since some gift situations can be complex. Decisions can be made only after careful consideration of a number of interrelated factors. Therefore, these policies will in some instances require that the merits of a particular gift are considered by a gift acceptance committee, and a final decision be made only by that body.