Indiana University and Indiana University Foundation Gifts
FIN-ACC-40
About This Policy
- Effective Date:
- 10-01-1990
- Date of Last Review/Update:
- 06-30-2026
- Responsible University Office:
- Office of the University Controller
- Responsible University Administrator:
- Vice President and Chief Financial Officer
- Policy Contact:
Anna Jensen
Associate Vice President and University Controller
Office of the University Controller
anjensen@iu.edu
Policy Statement
It is the policy of Indiana University to uphold the highest standards of stewardship for all funds and to ensure contributions from donors and prospective donors are managed and expended prudently, effectively, and efficiently in accordance with donor intent. Fiscal officers are responsible for ensuring that processes and controls are in place that ensure the use of gift resources agree with donor intentions as supported by the gift agreement.
The Indiana University Foundation (IU Foundation) is the designated organization responsible for the receipt and management of gifts, including in-kind gifts, made for the benefit of Indiana University. Gifts intended for the university must be directed to the IU Foundation for receipt and administration in accordance with the IU Foundation gift policy. If a gift is directed to the university rather than the IU Foundation, the university will follow IU Foundation gift acceptance guidelines. The IU Foundation must be promptly notified of any gift made directly to the university to ensure proper recording and acknowledgement.
The IU Foundation does not receive or manage other university funds, except for certain university assets invested by the IU Foundation on behalf of the university. Units are prohibited from transferring any non-gift revenue or university assets to the IU Foundation, except where payment is required in exchange for services provided by the IU Foundation.
Units may not use university or IU Foundation funds to make gifts to external entities.
Indiana University prohibits redirecting compensation from the university or other sources to the IU Foundation before constructive receipt by the individual. Individuals, including faculty and staff, may not direct, request, or permit an external entity to pay honoraria, royalties, or other compensation to the IU Foundation or any university account, unit account, or affiliated account in lieu of payment to the individual. Indiana University and IU Foundation will not accept funds intended to alter the tax treatment of personal compensation. Additionally, the university follows the IU Foundation’s Gift Policy regarding gifts made by university faculty and staff, where conflicts of interest could occur.
The Office of the University Controller (UCO) has established the IU Accounting Standards, which define accounting and control procedures for direct gifts to the university and reimbursements from the IU Foundation.
Reason for Policy
To guide faculty and staff in depositing, recording and acknowledging gifts received on behalf of Indiana University.
Definitions
Donor Intent: Restrictions or purposes specified by a donor regarding the use of a gift, documented through agreements, correspondence, or legal instruments.
External Entities: Organizations outside IU, including nonprofit organizations, excluding approved grant-related matching arrangements.
Gift (Charitable Contribution): A complete, voluntary transfer of property from a person or organization to the Foundation or University where the value of the transfer exceeds the fair market value of any goods or services provided in return.
In-Kind Gift: A non-cash donation of tangible (e.g., equipment, artwork, real estate, cryptocurrency) or intangible (e.g., copyrights, trademarks, or patents) given to benefit the university.
Non-Gift Revenue: Revenue generated from non-gift sources, including but not limited to tuition, fees for service, sponsored research grants, and auxiliary sales. These funds may not be transferred to the IU Foundation.
History
The source to this policy is:
IU Foundation, Financial Management Services, and the Office of the Treasurer.
In July 2024, references to the renamed IU Indianapolis campus were updated in this policy.
In June 2026, IU Foundation, Financial Management Services, and the Office of the Treasurer. This policy replaces and supersedes previous policies: FIN-ACC-40: Charitable Gifts to Indiana University, FIN-ACC-460: Depositing of Revenue for the Sale of Goods and Services at the IU Foundation, FIN-ACC-80: Donations and Contributions to Other Entities, and FIN-TRE-45: Donor Intent Responsibilities.