Purpose
This policy establishes the conditions under which gifts in-kind may be accepted by the college and assigns authority for such acceptance.
Definitions
Gifts In-Kind refer to contributions of products or inventory to the college.
Responsibility
An administrator will deem the gift appropriate for acceptance by signing documentation as described in corresponding SCTCC procedure. All paperwork related to a gift in-kind will be forwarded to the Business Office, Vice President of the Foundation and President’s Office.
The SCTCC President or their designee will acknowledge the accepted gift in-kind in writing (have a letter drafted for the President’s or designee’s signature). The Vice President of the Foundation will also acknowledge the accepted gift in-kind in writing. The purchasing department will record all accepted gifts in-kind as part of the official college inventory (per Minnesota State policy7.3.6-Capital Asset) and provide the Vice President of Administration with a report on such gifts at the end of each fiscal year.
Conditions for Acceptance
Authority to accept gifts in-kind is provided under Minnesota Statute 136F.80 and outlined in Minnesota State Board Policy 7.7- Gift and Grant Acceptance. Under that policy St. Cloud Technical & Community College (SCTCC) is authorized to accept all gifts and grants made to SCTCC with the exception of real property, on behalf of the Board of Trustees. All gifts of real property must be formally accepted by the Minnesota State Board of Trustees and shall be subject to appropriate due diligence and conformance with the campus facilities master plan. Gifts of over $100,000 will be reported to the Chancellor or their designee.
- Gifts In-Kind should enhance either the college’s day to day operations or its mission and goals. Therefore, the college should not accept gifts that are obsolete, damaged or unrelated to its mission/operations. The college will not accept donations of hazardous waste.
- The following must also be considered before accepting gifts in-kind
- Any potential tort liability
- Any conflicts interest=
- The cost of altering, operating or maintaining the gift property
- Any taxes or special assessment that must be paid to the transfer of the gift title