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(Approved by the Board of Regents at the March 8, 2018 meeting)
1. Purpose
This policy implements a gift assessment that will provide for sustainable funding for University Advancement and other institutional priorities that advance University of Washington’s mission.
2. Institutional Gift Assessment Rate and Application
The assessment of five (5) percent will be applied upon receipt to current-use contributions over $1,000 and under $5 million to the same fund in a fiscal year.
3. Disposition of Accounts Is Under the Direction of the President and the Provost
Advancement Operations has developed a procedure to ensure that assessment income is calculated in accordance with policy and is allocated monthly to appropriate accounts that correspond with the gift type. These accounts will be held by the Office of Planning & Budgeting, on the Provost’s behalf, and will be managed under the direction of the President and the Provost.
On a quarterly basis, the Advancement Operations Office shall provide a report to the Office of Planning & Budgeting containing the gifts received, the eligibility of each, and the amount assessed to each eligible gift.
The Office of Planning & Budgeting will be responsible for regular review of the reconciliation of these budgets; regular audits of gift revenues received, fees assessed and exceptions; and prompting allocation of revenues in these budgets by the President and the Provost.
4. Exemptions to Assessment
Exemptions to the assessment include gifts tied to purchases of seats at sporting events; endowments; gifts to codified and existing University of Washington Affiliates with prior articulation agreements, except as otherwise allowed within those articulation agreements; and special cases approved by the President in writing.
5. Responsible Office
For additional information, contact the Office of Planning & Budgeting.
June 14, 2018.
For related information, see: