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Monash University Policy Bank

Gift Acceptance Policy

Purpose

The purpose of this policy is to state the University’s position in relation to the acceptance of philanthropic gifts.

Scope

All campuses
All faculties and divisions
All staff
All gifts

Policy Statement

In Australia Monash University has been endorsed by the Australian Tax Office as a Deductible Gift Recipient and accepts gifts in accordance with the objects and purposes of the University.

Funds within the University’s Australian Gift Fund are managed by the Offices of the Vice Chancellor, the Vice-President (Advancement) and Vice-President (Finance) to ensure compliance with Australian Tax Office gift fund requirements.

Monash University may accept or refuse any philanthropic gift. Gifts may be designated for a specific purpose or undesignated.

The acceptance of gifts must be in harmony with the academic and strategic objectives of the University.  Subject to this principle, the wishes and intentions of the donor provide guidance in determining the purpose for which the gift will be used, although ultimately the University has unconditional discretion to determine how the gift will be used.

Before accepting a philanthropic gift, the University will consider any additional University funding or commitment required to maintain, administer or comply with the conditions and intended use of such gift. 

Non-cash gifts with a value of more than $500 AUD must be reported to the Vice-President (Advancement) so that a decision may be made as to whether the proposed non-cash gift can be accepted. For non-cash gifts with a value less than $500 AUD, the decision to accept the gift can be made at the discretion of the relevant department. For all accepted non-cash gifts acknowledgement and a receipt for taxation purposes will be produced by Advancement.

All philanthropic gifts accepted by the University will be recorded on the University’s central donor database and the University finance system.  All gifts will be formally acknowledged and receipted by the Office of the Vice-President (Advancement) where sufficient information has been provided to do so.

The University will not accept gifts from companies generating income from tobacco related products.

The University will not accept gifts if for any reason such acceptance would compromise its integrity, autonomy or academic freedom, or where such acceptance would be inconsistent with the University’s mission and policies.

Gifts will not be refunded unless genuinely made in error.

Supporting procedures

Gift Acceptance Procedures
Gift Acceptance - Gift Receipting Procedures (Australia)
Gift Acceptance - Receipting for Charity Auctions Procedures (Australia)
Gift Acceptance - Receipting for Fundraising Events Procedures (Australia)

Supporting guidelines

Responsibility for implementation

Vice-President (Advancement)
Vice-President (Finance)
Pro-Vice Chancellor and President, Monash South Africa
Pro-Vice Chancellor and President Sunway Campus Malaysia
Director, Advancement Services
Divisional Director, Corporate Finance
Deans
All staff handling gifts

Status

New

Key Stakeholders

Vice-President (Advancement)
Vice-President (Finance)
Pro-Vice Chancellor & President Monash South Africa
Pro-Vice Chancellor & President Sunway Campus Malaysia
Director, Advancement Services
Divisional Director, Corporate Finance and delegated staff
Deans

Approval body

Name: Vice-President (Advancement)
Meeting: n/a
Date: 31-May-2011
Agenda item: n/a

Endorsement body

Name: Director, Advancement Services
Meeting: n/a
Date: 31-May-2011
Agenda item: n/a

Definitions

Related legislation

Monash University Statutes and Regulations


University Statute 11.1.1
University Council Regulations – Administration of Trust and Other Property Regulations


Australian Legislation


Fundraising Act (Vic) 1998
Fundraising Regulations 2009 (VIC)

Income Tax Assessment Act 1997 Australia (Sub-divisions 30-A, 30-BA and 30-CA, Sub-divisions 50-A and 50-B)

Information Privacy Act 2000 (VIC) (Schedule 1)

Tobacco Act 1987 No 81 (VIC) Section 9 (1) & (2)


Malaysian Legislation


Income Tax Act 1967


South African Legislation


Income Tax Act 58 of 1962 Section 18A
National Heritage Resources Act (No. 25 of 1999)

Non-Profit Organisations Act 71 of 1997


 

Related policies

Fundraising Policy
Potential Donor Management Policy

Physical Entity Naming Policy

University Privacy Policy

Related documents

Advancement website
Australian Taxation Office Goods and Services Tax Ruling GSTR 2000/11 (Sections 57 - 61)

Universities Australia Code of Practice for Australian University Philanthropy

University Ethics Statement

Date Effective

16-May-2011

Review Date

16-May-2014

Owner

Director, Advancement Services

Author

Gifts Management Officer

Content Enquiries

 advancement-policies@monash.edu

University Policy Use

Version Number: 1.1

Contact: adm-PolicyBank@monash.edu

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