The University of Georgia Foundation Memorial and Honorary Gifts :: Gift Accounting :: UGA Foundation

 


Memorial and Honorary Gifts

POLICY: 4.10
Effective Date: 01/01/2004
Last Updated: 05/28/2014
Policy Owner: Scott, Brandon

 

Description of Memorial and Honorary Gifts

The Foundation will accept donor gifts made in remembrance of deceased family members, friends or loved ones (memorial gifts) as well as those gifts made in honor of living individuals (honorary gifts). Memorial gifts are often made in response to announcements in obituaries or memorial service programs.  Honorary gifts are often made in recognition of personal/professional accomplishments or important life occasions such as birthdays or retirements. 

To promote proper recording and stewardship, such gifts should be forwarded directly to the central Office of Gift & Alumni Information Management.  All gifts made to a memorial will be deposited into the general fund for the various schools, colleges, and units within the University.  The Office of Gift Accounting will earmark these funds so the gifts that were donated to the memorial may be tracked.  After 1 year (unless the minimum endowment is reached earlier) if the minimum endowment for the memorial is met, the Office of Financial Services, at the request of the school, college, or unit, will proceed with setting up the endowed fund in the name of the deceased.  If the memorial has not met the minimum for an endowed fund after one-year, all the proceeds from the memorial will stay in the general fund and support the school, college, or units need, as determined by the Dean, Director, or Vice President.  In many instances, however, such gifts are received by the various schools, colleges, and units within the University.  When received by a unit other than the Foundation, the gift and any accompanying documentation should be transmitted to the Office of Gift Accounting as a "memorial" or "honorary gift."

As with other Foundation contributions, memorial/honorary gifts may be designated for restricted or unrestricted use by the University.  In some instances, donations may be made to specific funds with the intent that the donations be used for a special, one-time purpose.  The Foundation has the capability to track such contributions and will follow all known intentions in such cases.  Memorial gifts and honorary gifts may be made via cash, check, credit card, stock, or any other means approved by the Foundation.

Processing Memorial and Honorary Gifts

When processing memorial and honorary gifts, the Office of Gift Accounting will assign an additional designation of "M" or "H" to each such gift received by the Foundation.  Such designations will permanently identify the contribution as having been made in memory, or in honor, of the individual(s) designated.   Should the memorialized or honored individual not be found on Gift & Alumni Information Management system (GAIL), additional gift text indicating the name(s) of the individual(s) will be entered into the system.  As with all other types of gifts made to the Foundation, any correspondence or gift-backup associated with a memorial/honorary gift should be transmitted to the Office of Gift & Alumni Information Management. This documentation is especially important in properly stewarding gifts of this type.     

Memorial Gift Receipting, Acknowledgement, and Notification

The Office of Gift Accounting will provide gift receipts for all memorial gifts received by the Foundation.  These gift receipts will follow the same format as other gift receipts, with the exception that receipts for memorial gifts will feature an additional field indicating the name(s) of the individual(s) being memorialized. In addition to the Foundation gift receipt, each donor will receive an enhanced memorial gift acknowledgement from the Office of Donor Relations and Stewardship.  These acknowledgements will confirm that a family member has been notified of the donor's gift and will include the name(s) of the individual(s) memorialized, the fund to which the gift was credited, the name and address of the family contact, and the toll-free contact number for the Office of Donor Relations and Stewardship.   A corresponding memorial gift notice will be sent to the designated family contact.  This notification will include the name of the individual memorialized, the fund to which the gift was credited, the name and address of the donor, and the toll-free number for the Office of Donor Relations and Stewardship.  The family notification further indicates that the University of Georgia and the Foundation have thanked the donor.  Actual gift amounts are not included on the donor's or family contact's enhanced gift notifications. In all instances, the donor's actual gift receipt will indicate the amount contributed.

In the event that a large number of memorial gifts are made in remembrance of any one individual, the Donor Relations/Stewardship unit may provide the designated family contacts with periodic reports providing the donor names and addresses. These reports would be provided in lieu of, or in addition to, the individual gift notifications mentioned above (see "Memorial and Honorary Reporting" below). 

Honorary Gift Receipting, Acknowledgement, and Notification

The Office of Gift Accounting will provide gift receipts for all "honorary " gifts received by the Foundation.  These gift receipts will follow the same format as other gift receipts, with the exception that receipts for "honorary " gifts will feature an additional field indicating the name of the individual(s) being honored. Following a similar process to that outlined above for memorial gifts, each donor will receive an enhanced honorary gift acknowledgement from the Office of Donor Relations and Stewardship.  These acknowledgements will confirm that the honoree has been notified of the donor's gift and will include the name of individual honored, the fund to which the gift was credited, the honoree's mailing address, and the toll-free contact number for the Office of Donor Relations and Stewardship.   A corresponding honorary gift notice will be sent to the honoree.  This notification will include the name of the individual being honored, the fund to which the gift was credited, the name and address of the donor, and the toll-free number for the Office of Donor Relations and Stewardship.  The honoree notification further indicates that the donor has been thanked by the University of Georgia and the Foundation.  Actual gift amounts are not included on the donor's or the honoree's enhanced gift notifications.   In all instances, the donor's actual gift receipt will indicate the amount contributed.

In the event that a large number of honorary gifts are made in recognition of any one individual, the Donor Relations and Stewardship unit may provide the honoree with periodic reports providing the donor names and addresses.  These reports would be provided in lieu of, or in addition to, the individual gift notifications mentioned above (see "Memorial and Honorary Reporting" below). 

Memorial and Honorary Gift Reporting

The Office of Donor Relations and Stewardship will, upon request, provide memorial/honorary gift reports to family members, development officers, or campus administrators.  Such reports will include the name and address of each donor who received primary gift credit for a contribution made in memory of, or in honor of, the specified individual.  Should a large number of memorial/honorary gifts be processed by the Foundation within a concentrated time-frame, this report may be sent to family representatives in lieu of, or in addition to, the individual gift notifications mentioned above. 

Development officers and campus administrators may request an additional memorial/honorary report that provides the donor names and actual gift amounts associated with a specified individual.  This more detailed financial report is intended for campus use only and is not intended for distribution to family members or other contributors.

Establishing Named Memorial and Honorary Funds

Should sufficient funds exist, either through the accumulation of numerous smaller contributions or the receipt of several larger gifts, the donor, a development officer, or a campus administrator may request that a permanent fund be established with the Foundation in memory/honorary of the specified individual(s).  To establish such a fund, a letter of request must be sent toJennifer Hancock, Office of Gift Accounting. Specific instructions are found in Policy 5.3 Fund Agreements.  Gift Accounting should be notified as soon as such intent is known.  Prompt notification aids in ensuring the proper processing of anticipated memorials/honorary contributions associated with the new fund.