The purpose of the Gift Acceptance, Counting and Communication Directive is to provide a set of standards by which gifts are verified, accepted, registered and received by Carnegie Mellon University. The directive applies to all private aid gifts received by the university, including units, programs and centres. This policy focuses on progress reports, not financial accounting and information. For accounting and administrative purposes, gifts are categorized into two main categories: without restrictions and restrictions. As a publicly funded university, the university must comply with federal law that governs the admissibility of the restrictions mentioned by donors in a donation agreement. These laws include, but are not limited to, Title VI of the Civil Rights Act of 1964, Title I of the 1972 Education Amendments and the Equal Rights Protection Clause of the U.S. Constitution. State law and institutional policy may also limit the university`s ability to accept scholarships limited to certain categories of protected persons. If a scholarship gift of $10,000 or more is fully spent within one year of receipt, there is no need to execute a gift contract. However, the scholarship criteria must be approved by the Promotion Services Office. Scholarship gifts of less than $10,000 are deposited in a scholarship fund (usually general scholarship accounts) established in agreement with the donor. In cases where a donor group decides to coordinate fundraising efforts to create a “real foundation” for a specific purpose, which must be named after a professor, advisory board, deceased comrades, etc., a memorandum is implemented for multi Donor Endowment. The person in charge of unit development should be the interlocutor to facilitate the process.
It is recommended to honour before the creation of a foundation for a monument or person that permission has been given by the family or the honourable. The minimum amount of funding for a foundation is $25,000 and must be completed within five years, if the gift is not filled, the gift is considered to be assigned to the item indicated.