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Gift Acceptance – Gift Receipting Procedures (Australia)Parent PolicyMonash University has been endorsed by the Australian Taxation Office as a Deductible Gift Recipient (DGR) and, as such, it is obliged to adhere to certain conditions regarding the receipting of gifts. Definition of termsATO: Australian Taxation Office 1. Gifts of Cash (includes money, cheques and direct bank deposits)1.1 Cash or cheque receipts for gifts must be forwarded to Research and Revenue Accounting Services staff along with any supporting documentation about the gift. 1.2 Notification of donations expected to be directly deposited to the University's bank account must be made to the relevant Research and Revenue Accounting Services staff member and to donorservices@monash.edu. ResponsibilityReceiver of the cash or cheque 1.3 Analysis of the gift must be undertaken to determine if the University is able to accept the gift under the University Gift Acceptance Policy. Contact Donor Stewardship, Advancement Division where advice is required. 1.4 Supporting documentation must be analysed to determine if the funds meet the definition of a gift. Examples of supporting documentation include, but are not limited to: a letter from the donor, a gift agreement, a grant application, a Grant Fund Details sheet received from the Research Office, a university appeal letter. ResponsibilityResearch and Revenue Accounting Services staff 2. Gifts for Amounts Less Than $5,0002.1 An online SAP ROMR form must be completed, providing the following information:
2.2 Cheques and cash must be deposited at the Cashier's Office on the relevant campus. 2.3 For gifts greater than $500, the SAP document number and copies of supporting documentation in relation to the gift must be forwarded to Donor Stewardship in Advancement (donorservices@monash.edu). This will assist Advancement with tailoring thank you letters and generating receipts. 2.4 Where the donor has requested an invoice to be raised, a request should be made to Donor Stewardship in Advancement (donorservices@monash.edu) to raise the invoice. The same information for the ROMR (see 2.1) should be provided to Donor Stewardship. 2.5 Donor Services will provide the Research and Revenue Accounting Services staff member with the invoice number so that the online ROMR can then be completed. ResponsibilityResearch and Revenue Accounting Services staff 3. Gifts for Amounts Greater Than $5,0003.1 For gifts greater than $5,000 a request for an invoice to be raised by Donor Services, Advancement must be made either via the Invoice Request online form or by emailing donorservices@monash.edu. ResponsibilityAll Staff 3.2 To assist Advancement with tailoring thank you letters and generating receipts, the following information must be provided with the invoice request:
3.3 The Research and Revenue Accounting staff member should inform Donor Services if the donor has requested an invoice to be sent to them. ResponsibilityResearch and Revenue Accounting Services staff 3.4 Invoices will be raised when requested -
3.5 Thank you letters and official receipts will be generated from the Raiser's Edge database for all gifts of cash where an invoice has not been sent to the donor. 3.6 Receipts for gifts of cash must contain the following information:
ResponsibilityDonor Stewardship and Recognition, Advancement Division 4. Gifts Paid by Credit Card via the Internet4.1 Where faculties or portfolios wish to collect funds online for a particular cause, they must contact the Manager, Annual Giving and Direct Marketing, Office of the Vice-President (Advancement) to enable their cause to be listed on the official Monash Giving webpage. 4.2 The e-cart facility must not be used by faculties and portfolios to set up products for donations. 4.3 Faculties and portfolios must not issue receipts for payments received from the Monash Giving webpage. ResponsibilityAll staff 4.4 Maintain the Online Giving webpage, updating it as required and based on strategy devised by Advancement. 4.5 Analyse the tax deductibility of new gifts offered online, seeking advice from Tax, Corporate Finance when required. 4.6 Ensure that the new gift project is set up to automatically generate tax deductible receipts for tax deductible gifts. 4.7 Where a new gift project is not tax deductible, ensure that wording on the webpage clearly reflects this and that non-deductible receipts are automatically produced when donations are received. 4.8 No receipts are generated from Raiser's Edge for online gifts. 4.9 Thank you notices and receipts are sent automatically through the website via email. ResponsibilityManager, Annual Giving and Direct Marketing, Office of the Vice-President (Advancement) 5. Gifts Received via EFTPOS in Faculties5.1 Analyse the gift to determine if it falls within the University Gift Acceptance policy guidelines. 5.2 Analyse supporting documentation to determine if the funds meet the definition of a gift. Examples of supporting documentation include a letter from the donor, a gift agreement, a grant application or a university appeal letter. Seek assistance from Research and Revenue Accounting Services staff when required. 5.3 Give the receipt generated by the EFTPOS machine to the individual making the payment. 5.4 Advise the individual that an official receipt will be generated and mailed to their address. 5.5 Obtain the individual's name and address and the specifics of any cause to which they wish the gift to be directed. 5.6 If the receipt is a gift, an online SAP ROMR form must be completed which includes the following information:
5.7 The SAP document number and copies of any supporting documentation in relation to the gift must be forwarded to Donor Stewardship in Advancement so that a receipt and a thank you letter can be generated. ResponsibilityFaculty administration staff, Research and Revenue Accounting Services staff 5.8 Thank you letters and official receipts will be generated from the Raiser's Edge database for EFTPOS payments. ResponsibilityDonor Stewardship, Advancement Division 6. Gifts of Property6.1 Gifts of property where the value is less than $500 may be accepted at the discretion of faculties/portfolios. 6.2 Before a gift of property (likely to have a value more than $500) is accepted by the University, Donor Stewardship, Advancement Division must be notified to make a decision of acceptance. 6.3 University staff must notify Stewardship, Advancement Division of any gifts of property so that receipts/thank you letters can be generated ResponsibilityStaff member approached by potential donor 6.4 Analysis of the gift must be undertaken to determine if the gift falls within the University Gift Acceptance policy guidelines. 6.5 If the gift is considered a cultural gift according to the ATO gift types, it may only be accepted by the University Museum or Library as part of the Cultural Gifts Program. The Library or Museum must be contacted and advised of the potential gift. 6.6 For donors who gift property other than that handled by the Museum or the Library, thank you letters and receipts will be generated by the Raiser's Edge database. 6.7 Receipts for gifts of property require the following information:
6.8 Asset Management, Corporate Finance must be notified of the non-cash gift so it can be recorded in the University's financial accounting system (SAP). 6.9 It is the responsibility of the donor, not the University, to obtain a valuation for an item of property to determine if it is tax deductible. However, departments may choose to pay for such valuations on behalf of the donor and the cost will be allocated to their cost centre and fund. 6.10 Where a faculty or department wishes to fund a valuation, an application must be made to the Australian Valuation Office within the Taxation Office: http://www.ato.gov.au/corporate/pathway.asp?pc=001/001/023 ResponsibilityDonor Stewardship, Advancement Division 6.11 Working with the relevant Purchasing Services staff member, arrange for a valuation of the gift to be obtained. 6.12 For gifts of property valued at more than $5,000, create an asset in SAP:
6.13 For gifts of property valued at an amount less than $5,000:
ResponsibilityAsset Management, Corporate Finance Division Content Enquiries: Advancement Policies |