A gift is a generic term that includes outright gifts, deferred gifts and pledges, the assets of which are irrevocable and can include cash, securities, real property, tangible personal property or other non-monetary assets.
MSU derives support from formal, approved appeals (solicitations) to potential donors to provide for various university programs. Fundraising and its results have become crucial to the continued and future excellence of MSU. All aspects of fundraising, including solicitation, accepting gifts and, as necessary, the return of gifts, are conducted in an organized and professional manner.
All gifts are solicited and accepted in support of MSU, and become the property of the respective entity upon acceptance. The dollar amount of the gift shall be the amount of cash actually received; the fair market value of property received (less any benefit retained by the donor); or, if in the form of a pledge, the full amount pledged.
Accepting gifts: Legal acceptance of a gift by an authorized campus official. This includes taking title to a tendered gift in the name of the MSU Alumni Foundation, and notifying the donor.
Outright gift: A voluntary and irrevocable donation of cash or property that may be used immediately.
Deferred gift: A broad description for charitable gifts that provide a deferred benefit to MSU. There are two major categories of deferred gifts: revocable and irrevocable. The most common type of revocable gift is a bequest intention made via will, living trust, IRA or insurance proceeds. Irrevocable deferred gifts generally provide immediate tax benefits and often a lifetime income for the donor. Examples of irrevocable deferred gifts are charitable trusts, gift annuities, and pooled income funds.
Pledge: An irrevocable written agreement to pay a specified amount of money according to an agreed upon schedule.
Solicitation: Any communication to potential donors requesting gifts to the university.