Non-Monetary Donations and Gifts

Scope

This policy applies to all faculty and staff at the University of Nebraska-Lincoln.

Policy Statement

Non-monetary donations and gifts (equipment, land, textiles, manuscripts, etc.) with a combined value of $5,000 or more that are received from outside sources need to be reported by completing the Non-Monetary Donation/Gift Form. The value of each donation will be recorded to your department's 27 donation/gift WBS.* The donor must provide a value of the gift when it is donated.  If the donor refuses to provide a value, the department/college is responsible for obtaining an appraisal so a value can be established.  Donations cannot be valued by University staff/faculty. The recorded gift revenue and corresponding expense will net to zero and have no effect on the balance in the provided cost object. If the value of the donation or gift meets the criteria in the capitalization policy, it will be tagged and capitalized. Departments receiving non-monetary donations directly (not through the Foundation) should provide the Associate Vice Chancellor & Controller - Business and Finance the donor contact information, description of item(s) donated, and value.  The Associate Vice Chancellor & Controller - Business and Finance will send a letter to the donor acknowledging receipt of the item(s) and thanking them for their generosity.

If you plan to dispose of the donated property within three (3) years of the date of the donation, please be aware of the IRS requirement related to Form 8282. Such disposal may have a negative impact on the charitable income tax deduction claimed by the Donor. If you have any questions, please contact Liwei He, Lhe6@unl.edu, or Erica Radach, eradach2@unl.edu.

If your department does not have an established donation/gift WBS, please contact your Grant Coordinator in Sponsored Programs.

Reason for Policy

This policy is meant to guide University of Nebraska–Lincoln employees on how to report non-monetary donations and gifts from outside donors.

Forms

• Non-Monetary Donation/Gift Form
• IRS Form 8282

History

• This policy was reformatted in 2021 and contact information was updated at that time.