Gifts
For questions concerning gifts, gifts-in-kind, or trust funds, please contact Dave Harris (414-229-5667; dnh@uwm.edu) or Karen Steldt (414-229-6093; ksteldt@uwm.edu).
The University of Wisconsin System recognizes that gifts to the University can be either Monetary Gifts or Non-Monetary Gifts-in-Kind. All gifts must have campus approval prior to their presentation to and acceptance by the University of Wisconsin System Board of Regents. The campus approval process includes creation of a WISPER record (electronic T-form) for providing relevant gift information to Research Services and Administration. To indicate that a monetary gift or gift-in-kind is being received, go to the Basic Info section on the General Tab and select the appropriate Document Type, i.e., “Gift” or “GIK”. Requesting a new University account or accepting a GIK requires a statement from the donor as to the purpose and/or value of the gift. Attach supporting documentation to the record. When complete, sign the record and route according to the WISPER instructions for your school or college. The record will be forwarded to RSA for processing and acceptance.
In accordance with the IRS regulations and good donor relationships, all gifts must be acknowledged in writing. In most cases, the UWM Foundation receives and acknowledges gifts. In cases where gifts or gifts-in-kind come directly into the University, the gift recipient should acknowledge the gift in writing.
The definitions governing what is considered a Gift or a Gift-in-Kind are provided in the UW System Financial and Administrative Policy Paper, Extramural Support Administration (G2) and are given below.
Gifts (Monetary)
To qualify as a gift to the institution, extramural support must meet all of the following criteria:
- Funds provide general or unrestricted support for broadly defined activities in one or more program areas, such as research, public service, instruction, fellowships/traineeships, etc.
- Detailed reports are not required—neither periodic or final, nor fiscal or technical. (The principal investigator may provide the donor with a brief statement that the expenditures were in accord with the intent of the gift).
- No provisions (delays, advance notice) are imposed by the donor concerning publication of data and information derived from the activity.
- There is no specific time limit on the expenditure of funds.
- Rights to any patent/copyright are not retained by the donor.
Regardless of the source of funding, any extramural support that does not satisfy all of the above conditions should be managed as a Sponsored Project for financial accounting and reporting purposes. If a proposal was sent to a sponsor with a defined scope of work, detailed budget, and/or involves human subjects, this is a sponsored project.
Gifts-in-Kind (Non-Monetary)
A gift-in-kind is a contribution of personal or real property which requires annual reporting by the institution.
Accepting Gifts
Accepting UWM Foundation Gifts
For the most part, monetary gifts are made to the UWM Foundation. However, as a general principle and to the maximum extent possible, all support provided through gifts to the UWM Foundation must be expended through the University. In this way the funds can be presented to and accepted by the Board of Regents for incorporation into the University's regular budgeting and accounting system.
The UWM Foundation, upon request of the University, will transfer the funds to the University. Such gifts must be deposited into a University account and expended from that fund. The following instructions pertain only to gift funds taken in through the UWM Foundation, not Sponsored Projects. Further clarification of types of extramural support and the interrelationship of various offices in acquiring that support is discussed in the document Memorandum of Understanding among the UWM Office of Development, the UWM Foundation, and the UWM Graduate School.
- To reduce administrative burdens, try to anticipate the amounts to be spent and transfer funds no more frequently than quarterly.
- Create a WISPER record.
- Go to the Basic Info section on the General Tab and select the appropriate Document Type, “Gift” or “Gift-in-Kind”.
- For new accounts, attach a statement from the donor regarding the intended use for the funds.
- Sign the record and route it according to the WISPER instructions for your school or college.
- The Dean’s office will forward the WISPER record to RSA.
- For monetary Gifts, RSA will request approval from the UWMF to add funds.
Once funds are deposited into a University account, expenditures are governed by University policies and procedures.
Accepting Gifts for UWM
- Send a "Thank You" letter to the Donor.
- Create a WISPER record.
- Go to the Basic Info section on the General Tab and select “Gift” for the Document Type.
- For new accounts, attach a statement from the donor regarding the intended use for the funds.
- Sign the record and route it according to the WISPER instructions for your school or college.
- Forward the check(s) to RSA for deposit and identify the deposit by including the WISPER record number and the recipient’s name.
- The Dean’s office will forward the WISPER record to RSA.
Accepting Gifts-in-Kind
Gifts-in-kind are of substantial value to the University. By Board policy, the University may not participate in establishing the monetary value of the gift. However, an inventory value should be established based upon fair market value on the date of the gift. To ensure proper insurance protection and inventory control, it is important that all gifts-in-kind are reported to, and accepted by, the Board of Regents.
- Any anticipated gifts-in-kind that are dangerous to operate or contain hazardous and/or radioactive materials should be reviewed and approved by University Safety and Assurances before being brought to campus.
- Obtain a document from the donor stating that the item is being gifted to the University of Wisconsin-Milwaukee and the estimated value of the item.
- Create a WISPER record.
- Go to the Basic Info section on the General Tab and select “Gift-in-Kind” for the Document Type.
- Attach the donor letter and a copy of approval by Safety and Assurances (if applicable) to the signed WISPER record and route for signature according to the WISPER instructions for your school or college.
- The Dean’s office will forward the WISPER record to RSA.
Trust Funds
The University of Wisconsin System establishes and manages all trust funds and has detailed information regarding policies governing trust funds, different types of funds, and other information available at the University of Wisconsin System Trust Funds Web site. To determine whether a gift can appropriately be managed through a trust fund, contact Doug Hoerr at (608) 262-9779 or dhoerr@uwsa.edu.
Depositing Funds into Trust (162) Accounts
To deposit money into a trust account and generate a "Notice of Trust Fund to be Presented to the Board of Regents":
- Create a WISPER record.
- Go to the Basic Info section on the General Tab and select “Other.”
- Sign the record and route it according to the WISPER instructions for your school or college.
- Checks associated with this deposit must be forwarded to RSA with a note stating the WISPER record number.
- The Dean’s office will forward the WISPER record to RSA.
- RSA will forward the checks to UW System Trust Funds for deposit.