The following procedure should be followed at the time a charitable donation is made to the College.
- Except in instances of donor preference, gifts to the College should be channeled through the HCC Foundation. The HCC Foundation and the College share responsibility to ensure that restricted gifts are used in the manner stipulated by the donor.
- All gifts to the College must be approved by the President (or designee) before they can be accepted. Individuals offering gifts to HCC through a College employee should be directed to the President (or designee) who will make a decision to either:
- accept a gift depending upon the conditions of the donation, any restrictions, the gift’s future benefit to the College, potential use, maintenance and operation costs, insurance, and/or cost of disposal, or
- refuse an offer of a gift if conditions of the offer so warrant (i.e., restrictions on use, the gift’s future benefit to the College, potential use, maintenance and operation costs, insurance, and/or cost of disposal).
- Once the President makes a decision on an offer of a gift the College, either a letter of acceptance and appreciation or explanation of refusal should be sent to the donor by the President. A copy of all gift acceptances should be sent to the HCC Foundation and Administrative Services. It may be appropriate to send the donor additional letters of appreciation from other HCC representatives.
If the value of a gift-in kind (non-cash) donation exceeds $500, Federal Form 8283 must be completed and submitted to the donor for signature and kept on file in Administrative Services.
- Donor identification number must be included on the form (Federal ID)
- The property must be described in detail (vehicles must have title, serial number, etc.)
- The fair market value (FMV) must be included (see instructions on Form 8283)
Form 8283 information return must be filed with IRS and sent to donor if donated property is sold by the College within two (2) years of its receipt.
Note: Donated scientific equipment and/or chemicals should meet the following criteria:
- chemicals should not be out -of- date
- containers should be intact and labeled
- chemicals should be free of crystallized solution