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Accounting Office

 


Gift Policies and Guidelines

The purpose of this is to consolidate and summarize the existing policies and procedures surrounding business transactions between NDSU and the NDSU Development Foundation. The following summary is based on a number of NDSU policies and procedures, a memorandum of understanding between NDSU and the Foundation, and NDSU Development Foundation Guidelines for Disbursement of Funds to NDSU Personnel (dated July 2011).    

Summary

NDSU and the NDSU Development Foundation are two separate legal entities.  NDSU is a part of the state government of North Dakota.  The NDSU Development Foundation is a legally separate foundation, which is tax-exempt under IRS Section 501(c)(3).  Since both entities fall under extensive legal and regulatory requirements, it is important to process transactions under the appropriate entity.

Related Procedures and Other Documents:

NDSU Accounting Office Guidelines – Bank & Investment Accounts – Foundation Accounts (source:  NDSU Accounting Office website)

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Deposits of Incoming Monies by NDSU Departments

Disbursement of Gift Monies Received


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North Dakota State University
Phone: +1 (701) 231-7432 / Fax: (701) 231-6194
Campus address: Old Main 11
Physical/delivery address: 1340 Administration Ave., Fargo, ND 58102
Mailing address: NDSU Dept. 3100 / PO Box 6050 / Fargo, ND 58108-6050
Page manager: Accounting

Last Updated: Monday, May 20, 2013 3:45:19 PM