1. Gifts in kind will be accepted by UW-Stevens Point subject to the specific criteria, listed below.
2. The Acceptance of Gift-In-Kind form must be signed by the donor as well as the Dean, Department chair, or Director of the receiving department.
3. After completion of the Acceptance of Gift-in-Kind form, forward it to the Purchasing Department, 041 Main, for review and final approval. The form must be completed and approved prior to acceptance and shipping of any gift. If you have any questions, please contact the Purchasing Department.

Criteria for Accepting a Gift-in-Kind

• Based on specific, identified equipment, supplies, or property required to meet the needs of current programs or of programs to be launched with two years
• Functional to meet required needs when received
• Be of a reasonable age in relation to its useful life
• Meet standards that would apply to purchase of a similar item in terms of quantity or attributes
• Recognize the potential costs associated with the donated gift, including but not limited to:
• Facility costs for storage, remodeling, or building modification
• On-going maintenance/operating/and personnel costs
• Hazardous waste/disposal costs
• Each Acceptance o​f Gift-in-Kind​ form requires the appropriate signatures to ensure that each accepted gift has been reviewed from an information technology, programmatic, resource consuming, and risk management perspective
• Estimated fair market value of donated property is established by the donor. Assistance with the determination of the fair market value can be found in IRS Regulation-Publication 561. Per UW Board of Regents' policy, the University may not participate in establishing the monetary value of the gift.

Financial Reporting and Acknowledgement of Gifts

Federal, State, and UW Board of Regents' rules require financial reporting of gifts-in-kind acquired by the university. UW-Stevens Point's Purchasing Department is charged with reporting all gifts-in-kind to ensure compliance.

UWSP Purchasing Department maintains an inventory value based upon the fair market value on the date of the gift for financial reporting purposes. If the value is $5,000 or more, and the useful life is one or more years, the donated property is included in the capital inventory. However the value assigned is not reported when the annual gift-in-kind report is submitted to UW System.

In accordance with §20.907, Wis. Stats, UWSP provides a listing and summary report of gifts-in-kind receiving institutional approval to the UW System Vice President of Finance after the close of the fiscal year. The Vice President then provides a summary report to the Regents and a combines listing to the Legislative Joint Finance Committee and teh Department of Administration.

Gifts must meet ALL of the following criteria:

1. Resources donated in a non-exchange transaction in support of broadly-defined activities
2. Detailed reports are not required--neither periodic or final, nor fiscal or technical
3. No provisions (delays, advance notice) are imposed by the donor concerning publication of data and information derived from the activity
4. There is no specific time limit on the expenditure of funds
5. Copyright or patent rights are not retained by the donor

Any extramural funds that do not meet the above criteria will be classified as a grant or contract and subject to indirect rates. Contact the Office of Research and Sponsored Programs.

Gifts and Donations are tracked in Fund 233 Project IDs. Donations are then deposited into a fund 233 project id using account code 9500 (Gifts & Donations).

All fund 233 project accounts must follow the Fund 233 Policy.