Gift Management

Gift Agreements

A Memo of Understanding document is created for each gift of $10,000 or more. The purpose of the document is to provide direction for the short-term or long-term use of the gift, especially for endowments and estate gifts. Learn about items to consider when choosing to create an endowment.

Tax Receipts

The Foundation is a tax-exempt private 501(c)(3) organization. If you are considering making a major gift, be sure to work with an advisor to maximize your tax benefits. Confirmation of gifts of all amounts are within one week upon the receipt of the gift in the Office of Development. Please contact us if you have any questions regarding a gift receipt or the receipting process.

Gifts of Assets

Non-cash gifts such as securities, real estate and personal property require special processing. The Foundation attempts to convert securities to cash within 24 hours of receipt, unless prevailing market conditions indicate that a delay will constitute a more valuable selling price.

When making a gift of property valued more than $500, the IRS requires that the donor complete Part I of Tax Form 8283. If the gift of property is valued above $5,000, the IRS requires that the donor complete the Tax Form 8283 and include a written "qualified appraisal" signed and dated by a qualified appraiser.

Management Fee

To fund operations, the Foundation applies an annual management fee of 1 percent to the average balance of each endowment fund. For planned gifts such as the charitable gift annuity, the Foundation applies a management fee of up to 1 percent of the average invested balance.

Distribution Policy for Endowments

At the end of the investment year, the Committee will review the total return on the endowment accounts and declare an annual distribution. The Foundation will be paid a management fee of up to 1.00 percent of the average invested balance. The Committee will distribute an amount up to 5.00 percent of the average invested balance for the purposes delineated in the endowment memorandum of understanding

If there are positive total returns beyond the management fee and endowment distribution, then the Committee will decide how additional earnings are utilized. Additional earnings may be used for purposes such as inflation reserve (at the sub account level), contingency reserve (undivided profits that may be used for distribution to the endowment sub accounts when necessary), etc. It is up to the discretion of the Committee to decide the highest priorities for distributing these additional earnings.

For questions or comments about management of SFASU Foundation gifts, contact:

Trey Turner '98  '02: Associate Vice President of University Advancement
Phone: 936.468.5406
Toll Free: 800.319.9517
Email: turnertrey@sfasu.edu