Gift Acceptance Crediting and Counting Guidelines

(as of October 19, 2023)

This document defines how outright and deferred gift commitments will be recorded for gift counting purposes in order to measure Rhodes’ success in achieving its fundraising goals and to ensure that donors are recognized appropriately for their contributions. The policies will be effective as of October 2023 and will supersede previous gift crediting policies.

General Gift Policies:

  • Cash gifts will include pledges and outright gifts for the Annual Fund, Lynx Club, capital, endowment, and any annual priority of the college.
  • In order for pledges to Rhodes to be credited they must be received in writing and processed by the college. This will ensure that the donor receives proper acknowledgement, recognition, and credit. No pledge without written confirmation by the donor will be recorded.
  • Deferred gift commitments will be counted as follows: 
    • Bequest 
      • Bequest intentions will be counted at face value.
    • Life Income Plans 
      • Life Income Plans will be counted at face value if the beneficiary is of the donor’s generation.
      • Life Income Plans will be counted at present value if the beneficiary is of a younger generation than the donor such as a child or grandchild.
    • Life Insurance 
      • Life Insurance gifts will be counted at face value if the insured is of the donor’s generation.
      • Life Insurance gifts will be counted at cash value if the insured is of a younger generation than the donor such as a child or grandchild.
      • Term life insurance will not be accepted.
  • The college may accept gifts of real estate, including houses, condominiums, commercial properties, farm land, rental property, and undeveloped land after a thorough review is made by Rhodes in accordance with Gift Handling Policies. These same guidelines will be followed for deferred gifts of remainder interest in a residence or farm.
  • Pledges will be counted in the full amount of the pledge commitment as soon as the donor has signed a pledge agreement. Pledges will ordinarily be expected to be paid within five years, although a schedule of payments extending beyond that point can be arranged in special circumstances.
  • Consistent with the Principles for the Process of Discernment Related to Contested Names adopted by the Rhodes College Board of Trustees on April 13, 2018, in the event that the donor engages in conduct that is determined to be morally reprehensible, including but not limited to being convicted of a state or federal crime, engaging in conduct that directly contradicts the fundamental values and mission of Rhodes College, or tarnishing the reputation of the organization through actions deemed by Rhodes College to be materially detrimental, Rhodes College reserves the sole right to remove the name of the donor from any form of recognition or honor that may have been promised or bestowed upon the donor as a result of the gift made to Rhodes College. Such determination shall be made at the sole discretion of the Board of Trustees in consultation with the President of Rhodes College and shall be considered final.

Gift Crediting Guidelines:

The following gifts and pledges will be counted towards the campaign. IRS rules and regulations will apply in all instances. Accordingly, qualified appraisals must be obtained by the donor and provided to the college where a qualified appraisal is required by the IRS in order to substantiate a charitable tax deduction.

  • Cash: Cash is credited at full value the day it is received. 
  • Marketable Securities: Securities are credited at the average of the high and low of the fair market value on the date of delivery or the date the donor relinquishes control of the assets.
  • Closely Held Stock: Gifts of closely held stock will be credited at the fair market value placed on it by a qualified independent appraiser as required by the IRS.
  • Real Property: Gifts of real property will be credited on the date of transfer at the fair market value as determined by a qualified appraisal.
  • Tangible Personal Property: Tangible personal property including works of art, jewelry, antiques, coins, stamps and other collections, automobiles, manuscripts, and books which are accepted by Rhodes College will be credited at the fair market value on the date of transfer as determined by a qualified appraisal. 
  • Gifts in Kind: Non-cash donations will be credited at fair market value on the date of transfer as determined by a qualified appraisal.
  • Bequests: Bequests are counted as cash only after the bequest matures and is received by Rhodes College.   Bequest intentions will be included in the campaign deferred commitment total only where the college has received signed documentation.  After the bequest matures and is received by Rhodes, the amount will be subtracted from the Deferred Commitment total and added to the Cash Commitment total. 
  • Charitable Gift Annuities: Charitable gift annuities will be credited at face value.
  • Charitable Remainder Trusts: Charitable remainder trusts will be credited at face value if the beneficiary is of the donor’s generation.  Charitable remainder trusts will be credited at present value if the beneficiary is of a younger generation than the donor such as a child or grandchild.
  • Charitable Lead Trusts: A charitable lead trust will be treated as a cash pledge, and credited at full value of all anticipated payments as stipulated in the trust document which will be received by five years after the close of the campaign. For example, a charitable lead trust created June 30, 2024, with an annual payment to Rhodes of $10,000 for ten years will be credited as a $100,000 cash pledge. 
  • Life Insurance: Rhodes College must be the owner and beneficiary of any whole or universal life insurance policy given to the college. (Term life insurance will not be accepted and will not be credited in the campaign.) At the time the policy ownership is transferred to the college, all donors must confirm in writing that  they will pay in a timely manner all future premium payments, whether known or unknown at the time the gift is made. Life insurance gifts will be credited at face value if the insured is of the donor’s generation.  Life insurance gifts will be credited at present value if the insured is of a younger generation than the donor such as a child or grandchild.

Annual Gifts and Memorials:

Gifts for annual purposes support the daily operation of the college. Unrestricted gifts of $25,000 or less go into the unrestricted designation for the Annual Fund or may be used for another restricted or capital purpose as deemed appropriate by the Vice President for Development. Unrestricted gifts above that amount go into the unrestricted capital funds designation.

Unrestricted memorial gifts will go into unrestricted designation of the Annual Fund.

Restricted memorial gifts will be used for the designated purpose.

Gifts of $10.00 or more requested by the donor to memorialize or honor a person will be recognized by one individual being memorialized or honored. A letter of notification regarding the gift will be sent to the person being honored or to a family member of the person being memorialized provided the name and address information for such a letter is available or is sent by the donor with the gift.

Permanent memorial designations that are not funded by a benefactor who designates such a memorial shall not be planned or authorized until at least one year after the death of the person to be memorialized.

Involvement of Benefactors and Solicitation of Funds

Each department is expected to involve potential supporters in the work of the department and to obtain gifts to meet the department’s needs, as outlined in the Gift Opportunities Lists. Examples are faculty chairs, faculty development funds, endowed library collections, and funds for equipment.

To maximize fund raising, build donor confidence in Rhodes, and avoid conflicts with the program approved by the Board:

Department heads must inform the Director of Advancement Services (ext. 3850) of every pledge and every gift on the day the pledge or gift is received by the department, and the designation which is to be credited with the gift or pledge.

All checks or cash must be delivered to the Development Office (Dorothy C. King Hall, 2nd floor) on the day received.

All prospects must be cleared by the Vice President for Development before solicitation.

Projects requiring special solicitations must have the approval of the Vice President for Development.

The person requesting special solicitation must submit a proposal in final form to the Vice President for Development. The proposal should be no longer than 3 pages and should include:

  • A project budget, approved by the appropriate administrative officer (head of division) and by the Vice President for Finance and Business Affairs.
  • A project description approved by the appropriate administrative officer (head of division), proposed schedule for fund raising and for the project itself, persons served, and benefits to the college.
  • A list of prospects to be solicited for gifts, including prospective solicitation amount.

The Vice President for Development in consultation with the President will determine the priority of the project and, upon approval, will direct the Development Office in the allocation of staff time to the project.

Charitable Gifts:

Solicitation by Other Charitable Institutions

Rhodes follows the practice, along with many of the charitable institutions and agencies in Memphis, that it does not redirect the charitable gifts that it receives to other charitable organizations and agencies (that also solicit funds in Memphis), nor solicit gifts from staff members of those organizations and agencies.