Q - What do I do with updates I receive on alumni or donors?
Please forward all updates to Advancement Services. You can send it campus mail to Advancement Services, Box 5111 or email email@example.com. It is very important to send all updates as this office is responsible for maintaining all alumni information.
Q - How do I process a cash/check gift to the University?
When a gift by check (or cash) is received by a campus unit, the following steps should be followed:
Endorse the check(s) "For Deposit Only" immediately. Endorsement stamps are available from the Business Office head Cashier.
If the check(s) was received by mail, keep the envelope. Use the Gift Check Log to make a log of the check(s). Print two copies of the Log.
Within that business day, deliver one signed copy of the Gift Log Form, the check(s), the envelope(s)--if received by mail--and any correspondence included therewith to the Advancement Services office located on the second floor of the Alumni Building. This office is open from 8 a.m. until 12 Noon and from 1 p.m. until 4:30 p.m.
Q - How do I process a gift-in-kind (GIK) to the University?
No gift item--e.g. computer equipment, a car, laboratory equipment, clothing, etc.--may be accepted or placed on Tennessee Technological University property until an In-Kind Form has been completed—all signatures obtained. Care must be exercised to assure that a gift of property, equipment, etc., does not involve any potential liability for the University.
Following are instructions to help you complete an in-kind gift form:
We need the name of the individual reporting the gift. This must be someone in the department who is benefiting from the in-kind gift. This person will be called if there are any questions.
We need the name of the department reporting the gift.
A brief description of the gift is also needed. Some gifts have to be tagged by physical plant as university property, so an accurate description is important.
The question concerning goods and services provided relates to the IRS requirements and must be answered by the recipient department of the gift.
Donor name and address must be completed.
Gift value must be determined before the form is sent to Advancement Services. Back-up for the value allowed, for example receipts if an item has been purchased or appraisals provided by the donor, for the gift-in-kind must be attached.
If the gift is computer-related, the form must be routed through the Associate Vice President of Information Technology Services for approval.
If the gift is a book or periodical, the form must be routed through the Dean of the Library.The form must have all the signatures. After the Vice President of University Advancement has signed the form, a copy will be returned to the department. No gift can be officially accepted until this process is complete.
Q - How do I process a gift of stock?
Appreciated securities are an excellent taxwise choice for making a gift to TTU. The simplest way to make a gift of publicly traded stocks, bonds, or mutual funds is to use your own broker, who may hold your securities in certificate or "book entry" form. Simply instruct your broker to transfer your securities into the following Tennessee Technological University Foundation account:
Wells Fargo Advisors
Contact: Tina Dedmon(931) 646-4208
Your broker may require you to authorize the transaction by completing a short form. Although transfer time varies from broker to broker, it should not take more than a few days to complete. * We request that you inform John W. Smith at (931) 372.6338 or firstname.lastname@example.org of a pending stock transfer so that we may facilitate the process.
Additional information may be found here.
Q - What constitutes a gift to the University?
A gift is defined as funds or property that has value for the University’s mission and is voluntarily bestowed upon the TTU Foundation or the University without expectation of return or compensation on the part of the donor. (Unlike a grant, which is recorded/reported through the Research Office, where the sponsor retains rights or/and control of the funds usage, and may stand to benefit from the results generated by funds expenditure.)
- Cash/Check/Credit Card (one-time gift)
- Gifts in kind (e.g. computers, uniforms, land, etc.)
- Payroll deductions
- Electronic Funds Transfer
- Periodic Credit Card Payments (agreement to make multiple payments)
- Matching Gifts
- Bequests (wills)
- Life Insurance Policies
Q - What is a GIFT Agreement and when is it required?
Funds permanently restricted—Endowments—must always have guidelines, a Gift Agreement, for use of the funds. The Gift Agreement documents the understanding between the donor(s) and the Foundation of the restrictions/appropriate use(s) of the fund. It is also often useful to have gift agreements for other funds, such as annual scholarships, to assure understanding between the donor(s) and the Foundation. A University Development Officer should always be involved early in the process with a potential donor and before any document is presented to a donor. For more information, contact John W. Smith at 931-372-6338 or email@example.com.
Q - What are the steps that a department should follow if it wants to engage in fund raising activities?
Prior to any solicitation of gifts or contributions, a Fundraising Project Request Form must be approved. This form is to be reviewed and signed by all appropriate administrators before submission to University Advancement. No fundraising activity should begin until this form has been signed by the Vice President for University Advancement. This includes solicitations in college/department newsletters or mailings to a specific college’s alumni.