FORM: A-152, Gift Remittance Form

PURPOSE:

An A-152 is used to deposit gifts received as cash, checks, or gifts in kind. A gift is defined as a transfer of items of value from a donor to the University or Foundation where there is nothing received by the donor for the gift. Items which are not gifts should not be transmitted via the A-152. Checks made payable to the University of Cincinnati should be deposited to a University account. Checks made payable to the U.C. Foundation should be deposited to a U.C. Foundation account.

PROCEDURES:

The department or the U.C. Foundation (depending on where the gift was received) deposits the gift. Enter date, amount, and any narrative comments or descriptive information. Enter all relevant Gift Information (donor, acknowledgment, remitter, type of gift) in the blocks provided. When there is more than one donor, list each gift amount next to the respective donor's name. If there are more than nine donors, attach a separate list to the Foundation copy of the form. In the "Remit To" box, indicate whether the deposit is to the University or the UC Foundation.

Indicate if a new fund needs to be established. (See A-223 procedures). If a new fund needs to be established, the funds will be deposited temporarily into an unassigned cash account and will be transferred to the new gift account when it is established. If the deposit is to an endowment fund, mark principal or income to identify which portion of the fund is to be credited. Enter the account number into which the funds are being deposited. You may allocate the payment to as many as four different accounts. Enter fund, area, and organization codes. Enter the revenue source code except when depositing to a balance sheet account. Enter the description of the transaction and the line amount.

Postmarked envelopes in which gifts are received are forwarded to the Foundation with their copy of the A-152. The purpose is to verify the date for the donor. The Internal Revenue Service will accept the postmark date for tax purposes.

If works of art, antiques or other collectibles are donated through gift or bequest, an A-152 Advice of Gift Remittance should be completed. ALL SUCH GIFTS OR BEQUESTS ACQUIRED VIA GIFT REQUEST ARE PROPERTY OF THE UNIVERSITY OF CINCINNATI, NOT THE DEPARTMENT. The Foundation will provide to the Director, DAAP Galleries, information pertaining to these gifts or bequests. The Director, DAAP Galleries, will review all such items for acceptance. This ensures the item will be catalogued, inventoried, and properly maintained.

If other gifts in kind are donated through gift or bequest, prior to completion of an A-152, authorization to accept the gift must be obtained from Property Control and the Vice President. An independent appraisal, or a bill of sale which shows the customary price of the item, should be attached to the A-152 so that the donor receives as accurate a gift credit as possible.

Charitable deduction property is defined as property other than money or publicly traded securities received after December 31, 1985. If property valued at more than $5,000 is donated through gift or bequest, the donor is sent an IRS Form 8283, Non-Cash Charitable Contributions Appraisal Summary by the Vice President responsible for the receiving department. This form is an acknowledgment only and does not represent concurrence in the fair-market value of the gift. If such property is subsequently sold, traded, or exchanged within two years of receipt, the Office of the Treasurer will file IRS form 8282, Donee Information Return.

Remittance to UC Cashier

Remittance to UC Foundation

If you have questions, please call the Cashier or the Foundation.

All "A" forms are available from Central Stores at no charge.