Purpose
The purpose of this policy is to state the Office of University Advancement's mission and delineate standards that govern the solicitation and acceptance of gifts made to the university.
Policy
Mission statement
Lynn University's Office of University Advancement is charged with accepting gifts and grants that support the university's mission and strategic plan. As a 501(c)(3) not-for-profit organization, University Advancement identifies potential partners and cultivates relationships with varied constituencies (alumni, parents, friends, corporations and foundations) who help bring the university's vision to life.
The department is responsible for all fundraising that supports the university's mission. The department identifies and follows up with prospects, cultivates relationships, fundraises, maintains donor/donation records, distributes thank you communications and tax receipts, identifies timely proactive and reactive appeal opportunities, and coordinates solicitation and donor activities for all of the university's fundraising needs and requests for outside support.
University Advancement's primary fundraising objectives include:
- Empowering academic innovation with best-in-class campus technology and design
- Investing in world-class teaching
- Advancing the arts, culture and free exchange of ideas
- Assuring a Lynn education for students with great potential
The university accepts only those gifts that support the mission and goals of the university.
All fundraising activities within or for the university must receive approval from the Vice President for Enrollment and University Advancement.
The University Advancement staff further ensures that: A gift that is given to Lynn University, whether it is undesignated or given for a particular program, is recorded immediately. Both a tax receipt and a thank you letter are issued immediately. The university advises all donors to seek their own tax and legal counsel and does not render tax, legal or financial advice.
The Vice President for Enrollment and University Advancement provides regular reporting of gifts received to the president, cabinet and board of trustees.
Definitions
Cash gifts—all cash, check or credit card, provided they support the mission of the university.
Corporate matching gifts—donations made by certain corporations and organizations matching employees’ donations based on pre-established formulas and limits.
Donor/benefactor—an individual, corporation, foundation, or organization that has made a gift to the university.
Endowment—funds that are kept intact and permanently invested, a portion of the earnings from which are applied to purposes designated at the outset by the donor.
Gift—gifts/pledges of money, securities, or real or personal property that is intended to be liquidated for cash, as well as gifts-in-kind.
Gift in kind—a Gift of goods that may be used in the operation of the organization, or may be converted to cash assets with the authorization of the donor, at the discretion of the university.
Grants—gifts made by a government or other organization for a purpose and usually bound by a contract.
Planned gift - A planned gift is a donation made in present day, and allocated to a future date; most often when the donor passes.
Restricted gift—gifts given or paid wherein the donor or granting and contracting organization has specified that the gift is to be used to support specific programs or projects.
Tribute gifts—gifts “in memory of” or “in honor of.”
Unrestricted gift—nature of a gift that it is donated to be used where it is most needed by the university as determined by the organization's leadership.
Procedures/Guidelines
At Lynn University, philanthropy is a tradition of giving to the university’s priorities and for its general fiscal strength. To ensure that philanthropy merits the respect and trust of our community, our donors and prospective donors, Lynn University’s Office of University Advancement is committed to the standards as follows:
- Constituents are informed of Lynn University’s mission, vision and strategic plan including the University’s fundraising priorities;
- Constituents are informed of the identity of those serving on the university’s board of trustees;
- Philanthropic files, personal records, and identifiable information are confidential;
- Gifts are used for the purposes designated by the donor;
- Prompt acknowledgement and appropriate recognition is provided by the University Advancement Office;
- Individuals representing Lynn University are professionals or professionally trained members of the student philanthropy team;
- “Anonymous” donors and gifts are appreciated; directives are followed and respected;
- The university and advancement office does release their mailing list to any outside person or agency not conducting business on behalf of the university; the university will also not solicit its own mailing list on behalf of any other organization or company; and
- All legal procedures are respected (IRS, State of Florida and Federal).