Gift Acceptance Policy

About the University of Wisconsin Foundation (UWF)

The University of Wisconsin Foundation (UWF) is the official fundraising, gift-receiving, and gift-investing organization for the University of Wisconsin–Madison (UW-Madison), its affiliates, and UW Health. UWF is also referred to as the Wisconsin Foundation and Alumni Association (WFAA).

UWF is a private, not-for-profit corporation that encourages individuals and organizations to make gifts and grants to UW-Madison, its affiliates or UW Health. UWF is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, is classified as a public charity, and is eligible for charitable tax deductions under Section 170(b)(1)(A)(ii).

Each year, UWF transfers gift and investment income to UW–Madison, its affiliates, or UW Health.  These funds support campus priorities, including scholarships, building projects, research efforts, and the initiatives of specific schools, colleges, and programs.

Purpose

UWF is responsible for recording and receipting all gifts and pledges in accordance to Internal Revenue Code (IRS), Council for Advancement and Support of Education (CASE), and Financial Accounting Standards Board (FASB) regulations. The purpose of this Policy is to address the types of gifts UWF can accept, required documentation for each type of gift asset, any applicable minimum gift amounts required, and valuation of each gift type for purposes of recording in UWF’s gift records.

All gifts, whether mentioned in the Policy or not, should adhere to the following principles:

• Support UWF’s Mission: To promote the welfare of and advance the objectives of UW-Madison, its affiliates or UW Health by encouraging the interest, engagement, and financial support of alumni, donors, friends and patients.
  • UWF’s or UW-Madison’s, its affiliates and UW Health Reputation: UWF will not accept a gift which may damage or compromise UWF’s or UW- Madison’s, its affiliates’ or UW Health’s reputation or core values.
  • Donor Intent: All gifts should be derived from a donor’s motivation to philanthropically support UW-Madison, its affiliates or UW Health mission through their gifts to UWF.
  • UWF retains legal and fiduciary responsibility for the acceptance, custody, investment, and financial management of all gifts. Gift and investment income is disbursed to UW–Madison, its affiliates, or UW Health upon approval and is administered and expended by campus partners in accordance with donor intent and applicable policies.

Key Definitions

What is a Gift? [1]

The IRS defines a charitable contribution as “a donation or gift to, or for the use of, a qualified organization. It is voluntary and is made without getting, or expecting to get, anything of equal value.^”1

UWF and UW-Madison, its affiliates, and UW Health further require that any gift made to UWF meet the following criteria:

• The gift must be consistent with the mission of the UWF, which is to support the UW-Madison, its affiliates, or UW Health.
• The gift may be unrestricted as to operational use or may be restricted to specific purposes, programs, funds, or activities, provided such restrictions are lawful, administratively feasible, and consistent with donor intent and applicable UWF policies.
• A gift may not impose binding requirements for detailed fiscal or technical reporting, specific deliverables, or other enforceable obligations. (General stewardship reporting is permitted.)  An award that includes such requirements must be administered as a sponsored project (see below) through the UW-Madison Office of Research and Sponsored Programs.
• All patents, copyrights, and other intellectual property rights that result from activities supported by the gift may not be claimed by the donor.
• The gift may not include donor-imposed restrictions that impose publication or dissemination controls, including requirements to delay, review, approve, or otherwise control the publication or dissemination of data, findings, or information derived from activities supported by the gift.
• The gift must be irrevocable, meaning that once accepted by UWF, the donor may not reclaim the gift or direct its return^.
• May not consist of funds or proceeds that are processed as a special deposit (see below).

In addition to the gift criteria above, UWF may not accept revenue from university-sponsored revenue generating activities such as fees for laboratory and other services, payments for facility use, merchandise sales, or payments on contractual or business arrangements. All such funds must be deposited directly with UW-Madison into appropriate accounts. Most non-advancement related revenue from UW-Madison, its affiliates, or UW Health may not be accepted.

If a gift meets these requirements, UWF will provide the donor with a receipt which may be used by the donor for charitable tax deduction purposes.

Additional acknowledgements may be sent by UWF and/or UW-Madison, its affiliates, or UW Health staff for stewardship purposes.

What is a Sponsored Project?

Sponsored projects are non-charitable externally funded activities in which the university and the sponsor enter into a formal written agreement (i.e., a grant, contract, or cooperative agreement) through which the sponsor imposes binding conditions or requirements on the use of funds and/or retains the right to terminate funding. Sponsored projects are characterized by stated objectives to be accomplished within a specific period of time and budget, and generally require financial reports and/or scientific progress reports. Sponsored projects must be administered through the UW-Madison Office of Research and Sponsored Programs (RSP).

In contrast, a gift is a voluntary and irrevocable contribution given gratuitously that does not require detailed fiscal or technical reports; does not impose publication or dissemination controls on information derived from the activity; does not include enforceable deliverables or termination rights; and does not permit the donor to retain rights to any patent, copyright or other intellectual property created through use of the gift. Gifts are irrevocable payments and are processed by UWF for the benefit the university.

The distinction between a sponsored project and gift can be difficult in practice, particularly for awards coming through private foundations. Private foundations typically refer to their awards as “grants” and often require a “grant agreement” with the receiving entity. Depending on the nature and extent of specific requirements, some grant agreements may rise to the level of a sponsored project, while others may not. Non-private foundation gifts may also trend toward a sponsored project depending on the detail a donor wishes to include in the gift agreement.

For assistance determining whether an award should be processed by UWF as a gift or by RSP as a sponsored project, please contact [RSP.

What is a Special Deposit?

In relation to the processing of gifts, special deposits are typically used to record the proceeds from non-cash gifts that cannot be directly recorded in 4WARD. These are instead processed directly by the Finance team in the financial system. This means that the gift valuation amount is viewable in 4WARD, but the proceeds for the sale of that non-cash gift cannot be accessed through the 4WARD. Examples include proceeds from:     

• Sale of gifts in kind
• Sale of stock gifts / liquidation of gifted IRA’s
• Sale of life insurance gifts

Other gift-related items that are processed as a special deposit instead of through the UWF Membership or Gift Services channels include:

• Royalties that have been assigned to UWF

The Gift Acceptance Committee

The UWF Gift Acceptance Committee (GAC) is responsible for approving all changes to the Gift Acceptance Policy, in addition to reviewing potential gifts that would fall outside of UWF’s standard procedures and practices. The following are examples of gifts/actions that may be brought to the GAC:

• Gifts of real estate, closely held securities (private stock), precious coins, cryptocurrency, etc.
• Gifts that would draw significant public attention to UWF and/or UW-Madison, and its affiliates.
• Gifts that may have reputational implications for UWF and/or UW-Madison, and its affiliates, including gifts from international donors, especially for international donors whose annual donations to UWF and/or UW-Madison total $250,000 or greater.
• Gifts where the donor is requesting UWF to apply a dollar cost averaging (DCA) approach into the endowment pool. As a general rule, UWF does not, by itself, participate in market-timing decisions with donor dollars and, therefore, will not DCA donor gifts by itself without the approval of the GAC.
• Super Anonymous Gifts where the donor is requesting complete anonymity from UWF, UW-Madison, and its affiliates campus-wide that may have real or apparent conflicts of interest for the donor or UWF Officers.

The GAC is composed of at least one representative(s) from the following departments: Gift Services, Gift Planning, Legal Affairs, Finance, and Advancement Leadership. New members of the GAC may join by receiving a majority vote from the existing GAC members. No delegation of committee responsibilities to other UWF staff can be extended without GAC approval.

The GAC shall elect a Chair. The Chair must be an existing member of the GAC and shall be appointed by receiving a majority vote from the GAC. The responsibilities and duties of the Chair include scheduling and running quarterly GAC meetings, leading the maintenance of the Gift Acceptance Policy, and coordinating the review of gifts that may fall outside of the Gift Acceptance Policy. The position of Chair does not have a specific term length or limit. Election of a new Chair will occur when the current Chair steps down or if a majority of the GAC makes a request.

The GAC will meet quarterly to review any proposed changes to the Gift Acceptance Policy and to review gifts being presented for consideration. The GAC requires a quorum (defined as 50% or more of the total GAC) of members present at the meeting to act; however, if the GAC does not reach a majority in its decision around the acceptance of a gift, the CEO/President will be consulted. If gifts require review between quarterly meetings, the GAC may discuss and vote via the GAC channel on Microsoft Teams. Gifts subject to GAC review should be presented to the Committee by contacting the Chair.

General Gift Processing Requirements

Gifts Must Be Designated to UWF

UWF accepts gifts under its legal name of “University of Wisconsin Foundation,” or similar variations such as “UW-Foundation” or “Wisconsin Foundation and Alumni Association.” Donors should be instructed to make checks payable in this manner with gift designation information placed on the memo line of the check and/or described in donor correspondence.

UWF generally cannot accept checks or gifts directed to “University of Wisconsin,” “University of Wisconsin – Madison,” or the “University of Wisconsin Board of Regents.” These gifts must be directed to the University of Wisconsin System. However, University of Wisconsin Board of Regents Policy 21-9 allows such checks/gifts to be received by UWF if documented extrinsic evidence establishes the intention was to direct the checks/gifts to UWF. In the event of uncertainty about the receipt of checks/gifts, Policy 21-9 should be reviewed in its totality.

Documentation of Donor-Imposed Restrictions

When UWF accepts a restricted gift, the restriction must be consistent with UWF’s mission, and it must be administratively feasible and legally permissible. Written documentation from the donor is required for any restrictions.

To protect donor intent over time and ensure continued legal and practical feasibility, restricted fund agreements must include variance language that addresses situations in which the purpose becomes unlawful, impossible, impracticable, wasteful, or otherwise no longer feasible.

Restricted funds that include novel or complex restrictions, restrict academic or programmatic decision-making in a manner that could conflict with UWF or UW-Madison policies, or could reasonably create reputational risk must be reviewed by the Gift Acceptance Committee. 

Fund Minimums

To establish a fund at UWF, the following minimum commitment and documentation is required:

• Endowment Fund: A minimum payment or documented commitment (binding or nonbinding) of $50,000 (effective 7/1/2026) and a signed fund agreement. 
• Callable Fund: A minimum payment or documented commitment (binding or nonbinding) of $1,000 and a signed fund agreement, so long as the donor’s first pledge payment is at least $1,000.

Exceptions to fund minimum requirements require approval by the Controller or their designee (Director of Fund Accounting, Administration, and Compliance).

Gift Receipts

IRS Publication 1771, Charitable Contributions – Substantiation & Disclosure Requirements, imposes both recordkeeping and substantiation rules on donors and disclosure rules on charities that receive certain quid pro quo contributions (see below). In summary:

• Donors must have a bank record or written communication from a charity for any monetary contribution before the donors may claim a charitable contribution on their federal income tax returns.
• Donors are responsible for obtaining a written acknowledgment from a charity for any single contribution of $250 or more before the donors may claim a charitable contribution on their federal income tax returns.
• Charitable organizations are required to provide written disclosures to donors who receive goods or services (see “Quid Pro Quo Contributions” below) in exchange for a single payment in excess of $75.

In order to receive a receipt, a donor must make a gift that qualifies as a tax-deductible charitable gift per IRS rules. UWF’s Gift Services department issues official gift receipts for all qualified gifts, except for life income arrangement gifts and gifts-in-kind which are issued by the Office of Gift Planning. In order to assist donors in their substantiation requirement, UWF’s official tax receipt should include: (1) name of our organization, (2) amount of the cash contribution, (3) a description of non-cash contributions, (4) a statement that no goods or services were provided by the organization in return for the contribution, if that was the case and (5) a description and good faith estimate of the value of goods or services, if any, that an organization provided in return for the contribution. For gifts of securities, UWF includes a “Recognition Value” on the gift receipt with the following disclaimer: “The IRS requires that we only state the name of the stock and number of shares. We have, however, also reflected a recognition value using our best attempts to follow IRS guidelines. The recognition value is used for internal purposes. The amount and date may differ from the amount and date on which your charitable contribution may be determined. We encourage you to consult with your tax adviser and/or tax return preparer if you have any questions.”

Non-Cash Gifts: Gift Valuation and Appraisal

The fair market value (FMV) of a non-cash gift is used when recording the gift in 4WARD. The IRS defines FMV as “the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts.” [2]

For gifts other than cash or publicly traded securities that are valued at more than $5,000 (or closely held securities valued at more than $10,000), the donor must complete IRS Form 8283 (Noncash Charitable Contributions) in order to claim an income tax charitable deduction. The donor is also responsible for obtaining and paying for any qualified appraisal required to substantiate the value reported on form 8283.  The completed form must be submitted to UWF for acknowledgement; any Corporate Officer may sign the form on behalf of UWF.  

Exchange‑traded cryptocurrency that qualifies as convertible virtual currency is treated as non‑cash property but does not require a qualified appraisal. Donors may nevertheless be required to complete IRS Form 8283 in accordance with applicable IRS instructions.

UWF will use the qualified appraised value provided by the donor to record the gift in 4WARD. If an appraisal or other required valuation documentation is not received, UWF will record the gift at a nominal value of $1 until appropriate substantiation is provided.   

If UWF sells or otherwise disposes of a donor’s noncash contribution within 3 years of the gift, it must file Form 8282 (Donee Information Return) with the IRS and send a copy to the donor, unless the donor certified in the Form 8283 that the appraised value of the gift was $500 or less. 

UWF may, at its discretion, obtain or pay for an appraisal or other third-party valuation when necessary for internal due diligence to determine whether to accept a proposed non-cash gift. Any instance in which UWF pays for an appraisal that will be used to support the donor’s tax substantiation requirements must be approved in advance by the Gift Acceptance Committee. In such cases, donors will be advised to consult their independent tax advisor regarding any potential impact on their charitable deduction.

Gifts of cars, airplanes, boats, etc., are subject to specialized IRS documentation and valuation requirements. In these cases, the Office of Gift Planning will coordinate valuation substantiation and compliance.

Quid Pro Quo Contributions

A quid pro quo contribution is a gift made to UWF partly as a charitable contribution, and partly in exchange for goods or services. [3] For example, if a donor gives UWF $100 and receives a book valued at $40, the donor has made a quid pro quo contribution. In taking a charitable tax deduction for the gift, the donor must reduce the value of the contribution by the fair market value (FMV) of the benefits received. FMV is defined by the IRS as either the stated price of an item (e.g., the established price for the book) or the amount someone would typically pay to receive a similar benefit.

However, the IRS allows UWF to disregard goods and services provided to donors that have “insubstantial value.” “Insubstantial value” is defined as no more than 2% of the donor’s contribution or $139 (for 2026), [4] whichever is less. The following are also considered to have insubstantial value:

• Token Items: Token items such as bookmarks, calendars, key chains, mugs, t-shirts, and other such items that bear UWF’s/ UW-Madison’s name and logo are considered to have insubstantial value provided the donor’s gift was for at least $69.50 (for 2026) and the cost to UWF for production of the item is $13.90 or less (for 2026). If more than one token item is provided to the same donor in a given calendar year, the total amount of UWF’s cost of production for all token items combined cannot exceed $13.90 (for 2026).
• Membership Benefits: Charitable organizations that offer certain membership benefits in return for an annual payment of $75 or less may treat such benefits as having insubstantial value as well. Examples are free or discounted admission to members-only events with a per-person charge.

In addition to those items treated as “insubstantial,” the IRS considers newsletters provided to donors as having no measurable value such that their receipt does not impact the donor’s charitable deduction. Newsletters or other publications that are not of commercial quality are treated as though they do not have measurable value as long as their primary purpose is to inform members about the activities of the charity and are not available to the public through subscriptions or newsstands. Generally, publications that contain articles written for compensation and that accept advertising are considered commercial-quality publications and have measurable fair market value. Note that benefits provided to donors in the form of cash or cash equivalents (e.g., gift cards) are never considered insubstantial by the IRS.

Refunds or Transfers of Gifts to other Charitable Entities

Gifts made to UWF are irrevocable conveyances that cannot be reversed or taken back by the donor. As a general rule, UWF will not return gifts to donors or transfer gifts to other charitable entities once a gift has been accepted. 

Refund or transfers of gifts will be approved only in rare and exceptional circumstances, generally when the gift was made in error or when the original intended use of the gift was never possible or became impossible shortly after the gift was made.  Before considering a refund or transfer, reasonable efforts should be made to work with the donor to re-designate the gift for an alternative purpose.

Requests for refunds or transfers of previously accepted gifts require approval from the Controller, Chief Financial Officer, or Chief Legal Officer, as appropriate. 

If a refund or transfer is approved the following applies:

• Refunds/transfers are limited to the lesser of: (a) the donor-attributable unspent balance at the time of refund/transfer, (b) the recorded gift value at the time the gift was accepted, and (c) for non-cash gifts, the net proceeds realized from disposition of the contributed assets.
• For funds that receive gifts from multiple donors, refunds or transfers will be limited to the identifiable unspent balance attributable to the donor’s gift, consistent with UWF’s accounting practices.
• For endowed gifts, any approved refund/transfer will be limited to the original gift amount (book value).  All appreciation, earnings, and growth on endowed funds will remain with UWF.
• For non-cash gifts, “net proceeds” means the gross proceeds received by UWF, less direct and reasonable costs required to hold, liquidate, or dispose of the contributed property. Any proceeds in excess of the recorded gift value belong to UWF and are not subject to refund or transfer.
• Refunds and transfers must be administered in accordance with UWF’s return/transfer procedures.
• If UWF approves a request to refund a gift, the following also apply:
  • Refunds must be made to the original donor of record and original source of funds, unless otherwise approved by the Controller, Chief Financial Officer, or Chief Legal Officer.
  • UWF will complete any required tax reporting and receipt revocation consistent with IRS requirements and UWF procedures.

Legal/Tax Advice for Donors

UWF representatives cannot provide legal, tax, or accounting advice to donors. Donors are encouraged to consult with independent legal counsel and other professional advisors of their choice to ensure they fully understand the implications of a proposed gift.

Types of Gifts Accepted by UWF

When reading this section, note that “Date of Gift” is most relevant for advancement reporting and donor acknowledgement/receipting purposes, which may not always align with the transaction date used for accounting purposes and recorded on the general ledger.

Outright Gifts

Cash

Cash received at 1848 University Avenue will be counted by Finance staff and taken to US Bank weekly for deposit. Cash received from campus should include a Gift Deposit Form with information on the donor(s) and designated fund(s). Donor information should include but not limited to donor first and last name, address, and where the donation is to be credited. In addition, several departments on campus have deposit slips for UWF’s account and take their cash deposits directly to the bank with the corresponding deposit slip. Information on all cash gift deposits is sent to Gift Services via help center tickets.

• Special documentation: None.
• Who can accept: No special acceptance signature is required for the gift to be complete.
• Date of gift: Date deposited by UWF.
• Value recorded in 4WARD: The face value of the cash.
• Special handling: None.

Checks

Check(s) should be made payable as specified in Section V. A of this policy. Check(s) along with applicable supporting documentation, such as a remittance card, letter, or invoice, should be mailed to:

UW Foundation
U.S. Bank Lockbox
Box 78807
Milwaukee, WI 53278-8807

• Special documentation: None.
• Who can accept: No special acceptance signature is required for the gift to be complete.
• Date of gift: Date deposited by UWF, except as noted below in Special handling.
• Value recorded in 4WARD: The USD face value of the check.
• Special handling: For year-end gifts, per IRS rules, a gift made by check can be receipted as a current-year contribution only if it is postmarked on or before December 31 of the current year. For this reason, checks received by campus or UW Health should be sent to the lockbox address above, along with all original envelopes and backup documentation and a completed gift deposit form. [Note: If the donor’s check is postmarked in the current year but postdated in the next year or dated in the current year but postmarked in the next year, it will be receipted as a next year contribution.]

Electronic Bank Transfers

UWF accepts gifts via electronic funds transfer (EFT), wire transfer, and Automated Clearing House (ACH). Donors should be directed to https://www.supportuw.org/how-to-give/bank-transfer/ to establish monthly or quarterly recurring giving via EFT. Donors should be directed to https://www.supportuw.org/ach-and-wire-transfer-notification-form/ to make a one-time gift via wire or ACH. Once the form is submitted, the transfer instructions are automatically sent to the email address provided. Gift Services uses the completed form to process the funds once the transfer is received.

• Special documentation: None.
• Who can accept: No special acceptance signature is required for the gift to be complete.
• Date of gift: Date deposited by UWF.
• Value recorded in 4WARD: The USD face value of the wire received.
• Special handling: None.

Credit Cards

The preferred way for a donor to give is to submit their credit card gift online at https://secure.supportuw.org/give/. Alternatively, donors may also call the Gift Services team to give their credit card donation. If a member of UWF staff is speaking with a donor over the phone, the call should be transferred to the Gift Services team to assist the donor with their credit card donation. Donors may respond to mail solicitations with their credit card information written on the remittance form. These forms are mailed to Lockbox 807 and the cards are charged by the US Bank lockbox service. UWF and US Bank comply with PCI Data Security Standards.

• Special documentation: None.
• Who can accept: No special acceptance signature is required for the gift to be complete.
• Date of gift: The date the gift is charged against the credit card.
• Value recorded in 4WARD: The USD amount of the gift charged.
• Special handling: For year-end gifts, online credit card gifts can be executed until midnight on December 31 of the current year to be receipted as a current-year donation. However, for credit card gifts made by mail to be receipted as a current-year donation, the card must be successfully charged in the current year.

Cryptocurrency

Cryptocurrency is a form of digital or virtual currency available only through online platforms. Virtual currency that has an equivalent value in real currency is referred to as convertible virtual currency. The IRS treats convertible virtual currency as property as stated in Notice 2014-21. 

• Special documentation: All donations made online via Coinbase are designated to the Chancellor’s Annual Fund. If a donor wishes to donate Bitcoin, Bitcoin Cash, or another supported cryptocurrency and designate the proceeds to another fund, a member of the Gift Services team must be contacted.  Gift Services will coordinate the creation of a unique invoice or other appropriate mechanism to facilitate the gift.
• Who can accept: No special acceptance signature is required for the gift to be completed, provided the donor is known to UWF and the gift complies with UWF’s Due Diligence & AML Compliance Policy (see Appendix). For gifts processed through Coinbase, a gift minimum of $1,000 applies.
• Date of gift: The date UWF receives the respective cryptocurrency in its Coinbase digital wallet.
• Value recorded in 4WARD: The fair market value of the virtual currency on the date of the gift, determined by converting the virtual currency into U.S. dollars at an exchange rate that is applied in a reasonable manner and consistently. Any transaction fees will be recorded as an operational expense of UWF.
• Special handling: Immediate sale of the donated cryptocurrency is transferred to UWF via our digital wallet through Coinbase. BitPay will be used to receive Bitcoin and Bitcoin Cash and upon receipt, BitPay will convert the cryptocurrency to cash immediately and send to UWF, net of the mining fee.

Publicly Traded Securities

UWF accepts gifts of readily marketable securities from donors, provided the securities are traded on a nationally recognized exchange or are otherwise marketable through an acceptable secondary market, such as over the counter (OTC). This category includes publicly traded stocks, exchange traded funds (ETFs), and most mutual funds.

• Special documentation: The preferred method is via Electronic Securities Transfer direct from the gifting broker to the preferred UWF broker (Raymond James).
• Who can accept: Must use approved revenue channels and may involve consultation with the Controller if securities are transferred to another brokerage account other than the preferred UWF Broker.
• Date of gift: Generally, the date the securities are received by a brokerage account under UWF ownership. If a donor hand-delivers a properly endorsed stock certificate, or an unendorsed stock certificate and a properly endorsed stock power, the gift date is the date received. If all proper documentation is received by mail, the receipt date is the postmark date.
• Value recorded in 4WARD: The gift value is calculated as the average of the high and low values of the same security on the date of the gift.
• Special handling: The designated UWF sales broker may be contacted to confirm marketability of any securities in question. Certain mutual fund families or share classes may not be accepted by UWF’s designated broker; questions regarding acceptability should be directed to the Controller or Chief Financial Officer. Gifts of securities that have donor- or market-imposed restrictions must be approved by the GAC. Standing immediate sale instructions at our designated broker govern most sales and in nearly all cases, gifted securities are liquidated as soon as practicable after receipt, generally within one business day.

Direct Designation Shares

Direct Registration shares (for example: Computershare, AST, EQ) can be gifted by having the donor complete the specific company transfer form and obtain a medallion signature guarantee. UWF will complete the recipient portion of the form and submit it to the appropriate transfer agent. Transfers of direct registration shares may take several weeks (3+) for the transfer agent to complete. Upon confirmation that the shares have been transferred into an account under UWF’s ownership and control at the transfer agent, UWF will utilize an authorized broker to move the shares to its preferred brokerage account and liquidate in accordance with standing sale instructions.

• Special documentation: Donor must obtain transfer form and medallion signature guarantee. Additional documentation may be needed based on the institution holding the assets.
• Who can accept: CFO, Controller, or Assistant Controller
• Date of gift: The date the shares are transferred into an account under UWF ownership and control at the transfer agent (not the date the shares are subsequently transferred to UWF’s broker for liquidation).
• Value recorded in 4WARD: The fair market value of the shares on the date of gift, determined in accordance with UWF’s valuation standards for publicly traded securities.
• Special handling: Gift Services and the designated UWF broker may coordinate as needed to facilitate transfer and liquidation once the shares are received.

Privately Held Stock Gift

UWF may accept gifts of privately held stock only after review and approval by the Gift Acceptance Committee (GAC), due to the legal, financial, and liquidity risks associated with such gifts.

• Special documentation:  Gifts of privately held stock require thorough due diligence, which may include, as applicable, a qualified appraisal or other valuation, review of financial statements, tax returns, and governing documents such as bylaws, Sec 144 vs 145 determination, analysis of transferability and resale restrictions (including any lock-up or buy back provisions), and written documentation outlining donor intent and designation of proceeds upon liquidation. Due diligence and review and approval of documentation is typically approved by Chief Financial Officer and Chief Legal Officer prior to submission to the GAC.
• Who can accept: Gift Acceptance Committee
• Date of gift: Date stock is legally transferred to UWF and UWF obtains ownership and control of the shares
• Value recorded in 4WARD: FMV, supported by a qualified appraisal or other appropriate valuation method approved through the due diligence process.
• Special handling: Gift Planning and Legal will coordinate receipting.  For restricted or illiquid stock, liquidation will be pursued as soon as practicable following the expiration of applicable restrictions and in coordination with an experienced broker, and when appropriate, the issuing company’s legal or SEC counsel. UWF’s legal department should review process and documentation.

Honoraria, Awards and Salary

Per the Board of Regents Policy Document 20-22 (Code of Ethics) and UW-Madison Guidelines regarding receipt of Honoraria, no University faculty or staff member who is assigned or acts as an official representative of a UW System institution in the presentation of papers, talks, demonstrations or making appearances shall solicit or accept fees, honoraria or reimbursement of expenses for personal gain. Any fees, honoraria, or reimbursement of expenses which may be offered in connection therewith shall be paid to the university. However, acceptance of fees and honoraria paid for papers, talks, demonstrations or appearances made on the individual’s own time, and not directly part of their official duties, shall not be a violation of this rule. Both Board of Regents and UW-Madison policy requires that faculty and staff members notify their supervisor or another appropriate administrator prior to accepting fees and honoraria for papers, talks, demonstrations, or appearances to ensure that no conflict of interest exists.

Per IRS guidelines, taxable income earned by an individual must be received and recognized as such by that individual, and this cannot be avoided by assigning such income to another party, including a charity.  Therefore, an honorarium earned by a faculty or staff member must be received directly by that faculty or staff member as taxable income, and the individual should receive a 1099 from the organization that makes the payment. The faculty member may make a gift to UW-Madison by endorsing the check over to UWF or by writing a separate check in the same amount, but they may not avoid the income by having the payment made directly to UWF.  A gift receipt would then be issued to the donor (the faculty member). Please see the below section on “Faculty and Staff Gifts” for more information about funds and purposes to which such gifts may be directed.

Real Property

• Special documentation: In order to perform required due diligence in determining a possible acceptance of real estate, UWF may request and review a qualified appraisal; any legal transfer documentation including financial statements and operating agreements; applicable market analysis; and conduct an onsite analysis. The completion of UWF’s questionnaire/checklist will be required in most instances. This covers the following areas: carrying cost, if rental real estate – most recent income statement, documentation of any liens on the potential gifted property, donors’ applicable cost basis, research of environmental concerns as well as any potential UBTI exposure.
• Gifts of real estate should have a fair market value of $100,000+ and acceptance be approved by the GAC. Gifts of real estate valued below the suggested minimum fair market value can be considered and accepted with approval by the GAC on a case-by-case basis.
• Who can accept: Gift Acceptance Committee
• Date of gift: The date UWF takes possession, which is the date the deed is signed, not recorded.
• Value recorded in 4WARD: Based on a qualified appraisal’s appraised value.
• Special handling: The applicable noncash tax receipt would be issued by the Office of Gift Planning. Both Gift Planning and Legal would oversee the property until liquidation, including but not limited to the creation of an operating letter of understanding for carrying cost for property between UWF and the respective donor.

Business Interests (LLC Interests/Partnerships, etc.)

• Special documentation: Review of the following documentations including but not limited to the operating agreement, articles of incorporation (if applicable), most recent financials and tax returns, any recent valuation of entity, organizational documents and current Wisconsin Secretary of State filings, any buy/sell agreements and any indemnification letter. Review should be conducted to determine any potential UBTI exposure.  Specific care should be taken to ascertain if the interest is subject to capital calls, and consideration should be given to the anticipated quality of the working relationship with others holding an interest in the business.
• Extra Due Diligence:  As a particularly complex gift, additional items to investigate include an evaluation of exit strategies, the potential administrative burden of holding the interest pending sale, any regulatory limitations or potential complications unique to the business, and specific insurance needs during ownership.
• Who can accept: Gift Acceptance Committee
• Date of gift: when we take possession – Date of ownership transfer.
• Value recorded in 4WARD: Based on a qualified appraisal’s appraised value, or business valuation firm’s value conclusion.
• Special handling: Gift planning to issue tax receipt; administration of ownership would reside in Legal

Corporate Matching Gifts

Corporate matching gifts are donations made by a company to match an employee’s charitable contribution, often doubling or tripling the original gift. It is the donor’s responsibility to initiate the matching gift request with their employer and to provide any necessary documentation or verification required by their employer. When requested, UWF will confirm receipt of the original donation, and provide applicable documentation and information to the matching company. Matching gifts are recorded separately from, but are associated with, the donor’s original gift.

Many companies use a vendor to administer their employee giving programs. In these instances, the vendor’s 501(c)(3) accepts the employee’s gift and the company’s match, receipts them accordingly, and sends the funds to UWF with the employee and company details. The vendor’s 501(c)(3) is legally the donor of record; however, Gift Services records the match on the donor’s and the company’s accounts, with a description indicating the third-party source and suppressing receipts.

WFAA does not apply corporate matching gifts to donor’s pledges or commitments. The match will be associated with the donor’s pledge but cannot reduce the balance of the pledge. Refer to the Pledge Management Policy for more details.

Gifts in Kind

A Gifts in Kind donation may be a tangible item, good, and/or service, which are typically items that the University would have to otherwise buy if the item, good, or service hadn’t been donated. Gifts in Kind donations of tangible, personal property given for the purpose of use on campus are received and processed via the relevant campus unit and UW Business Services.

A Gift in Kind donation facilitated by UWF will be considered for acceptance by the GAC when it is the donor’s intention that the gift to be sold and the proceeds be used in support of UWF’s mission. As a general guideline, the Gift in Kind being considered should have a fair market value of $25,000+ and acceptance be approved by the GAC. Gifts in Kind valued below the suggested minimum fair market value can be considered and accepted with approval by the GAC on a case-by-case basis.

• Special documentation: Substantiation of ownership including possible UBTI exposure. Determine exactly what the property is and what rights come with it, potential administrative burden with various IRS forms needed and the timeline to be sent, assessment of risks vs. value.
• Who can accept: Gift Acceptance Committee
• Date of gift: Date of ownership
• Value recorded in 4WARD: Valuation of these items can be particularly complicated. These gifts are recorded at either the fair market value secured by the donor, unless UWF has reason to believe it is inaccurate, or $1. Deduction will vary (lesser of FMV or adjusted cost basis). Donors should be encouraged to consult their own tax advisor to determine the amount of a charitable deduction.
• Special handling: Development Officers should work with the Gift Acceptance Committee identify the relevant issues associated with gifts of intangible personal property, such as royalties, copyrights, and patents. Donors may be subject to specific notification procedures that apply to contributions of intellectual property, which may require both the donor and UWF to provide certain information to each other or to the Internal Revenue Service. Office of Gift Planning to issue tax receipts.

Donor-Advised Funds

Donor-Advised Funds (DAFs) are philanthropic vehicles administered by a sponsoring organization that permit donors to recommend grants to qualified charitable organizations.  UWF accepts grants from Donor-Advised Funds provided that such grants comply with applicable law, IRS regulations, and the policies of the sponsoring organization. DAF grants must meet the following conditions:

• The grant must be made solely for charitable purposes and may not provide more than incidental benefits to any individual. Prohibited benefits include, but are not limited to, event tickets, tables, memberships, meals, preferential seating, or other goods or services of value.
• The grant may not be used to satisfy an individual’s legally binding pledge or personal financial obligation, unless expressly permitted by the sponsoring organization and consistent with applicable IRS guidance.

The Donor-Advised Fund sponsoring organization is the donor of record. Individuals associated with the DAF may receive recognition or soft credit, but UWF will not issue a charitable tax receipt to an individual donor. UWF reserves the right to review or decline any DAF grant that presents legal, compliance, operational, or reputational risk.

Private Foundations

Private foundations are independent legal entities established by individuals, families, or corporations to make charitable contributions in furtherance of their charitable purposes. UWF accepts grants from private foundations provided that such grants comply with applicable law and IRS regulations, including self-dealing and excess benefit rules.

Private foundation grants must meet the following conditions:

• The grant must be made solely for charitable purposes and may not provide more than incidental benefits to any individual.
• Grants may not be used to satisfy an individual’s legally binding pledge or personal financial obligation.
• The grant must not result in self-dealing, impermissible bifurcation, or any other prohibited transaction under IRS regulations.

The private foundation is the donor of record. UWF will issue acknowledgments to the foundation and will not issue a charitable tax receipt to any individual associated with the foundation. UWF reserves the right to review, decline, or impose conditions on acceptance of any private foundation grant that presents legal, compliance, or reputational risk.

IRA Charitable Rollover

UWF accepts gifts from donors’ Individual Retirement Accounts (IRAs) that qualify as Qualified Charitable Distributions (QCDs) under applicable IRS regulations. To be treated as a QCD, the distribution must be made directly from the donor’s IRA trustee, administrator, or custodian to UWF.

IRA charitable rollover gifts are acknowledged using IRS compliant language and are not eligible to be contributed to donor-advised funds or supporting organizations. UWF does not provide tax advice, and donors are encouraged to consult their tax advisor or tax return preparer regarding the treatment of such gifts.

• Special documentation: Estate administration often involves a large volume of paperwork as the estate progresses including general updates, inventories, receipt and release documents for signature, etc. These documents as well as the relationship with the estate are generally managed by the Office of Gift Planning.
  • Note: prior to the deposit/acceptance of this type of gift, Gift Planning/Legal should review the relevant legal documentation to ensure that UWF is the appropriate legal entity to receive this gift. If the legal documentation does not name “University of Wisconsin Foundation,” University of Wisconsin System Trust Funds Office may review the documentation and determine which organization will accept the gift. In most situations where the legal documentation does not name “University of Wisconsin Foundation,” the appropriate entity to receive the gift will be the University of Wisconsin System Trust Funds Office. If the payment in this case was received via the lockbox and cashed prior to Legal evaluation, the revenue is adjusted out of our system and paid to Trust Funds.
• Who can accept: A receipt and release document often accompanies bequest distributions. This document must be signed by an authorized signer of UWF.
• Date of gift: Date received by UWF
• Value recorded in 4WARD: The face value of the contribution
• Special handling: Checks received at the lockbox or through other channels besides via Gift Planning, that appear to be a part of a bequest or other estate payout should be brought to the attention of Gift Planning to ensure appropriate handling: that we are the correct legal entity to receive the gift, whether it should be receipted, that it is recorded correctly in 4WARD, and that relevant internal staff and campus partners are aware of the gift and will be stewarding it. All of these procedures also apply to Contingency Bequests received via 3rd party organizations such as community foundations or financial institutions.

Non-UWF Managed Life Income Gifts

Some charitable gift annuities, charitable remainder trusts, and charitable lead trusts are managed by entities other than UWF. Payments and all other documentation provided as a part of the annuity or trust payout process should be mailed to:

UW Foundation
Attn: Office of Gift Planning
1848 University Avenue
Madison, WI 53726-4090

• Special documentation: Gift Planning/Legal should review the relevant annuity or trust document to confirm that UWF is the appropriate entity to receive this type of gift. Charitable gift annuity or charitable remainder trust payouts are generally one-time distributions. Charitable lead trusts are constructed so that annual distributions are made over a specific period of years. A receipt and release document often accompanies these distributions. This document must be signed by an authorized signer of UWF.
• Who can accept: Gifts and documentation should be processed via the Office of Gift Planning.
• Date of gift: Date received by UWF.
• Value recorded in 4WARD: The face value of the contribution.
• Special handling: Checks received at the lockbox or through other channels besides via Gift Planning, that appear to be a part of a bequest or other estate payout should be brought to the attention of Gift Planning to ensure appropriate handling: that we are the correct legal entity to receive the gift, whether it should be receipted, that it is recorded correctly in 4WARD, and that relevant internal staff and campus partners are aware of the gift and will be stewarding it.

UWF-Managed Life Income Gifts

UWF manages a robust life income gift program which allows donors the opportunity to establish a charitable gift annuity, charitable remainder trust, or pooled income fund gift with us directly. These gifts involve an upfront contribution and then a regular payment from UWF to the beneficiary/ies of the gift for their lifetime or a period of years, after which the remainder value is available to campus per the donor’s instructions. These gifts are administered by US Bank in Madison.

As a general guideline, the suggested minimum value of a gift to establish a charitable gift annuity should be $25,000+. The suggested minimum value off a gift to establish a charitable remainder trust should be $100,000+. Gifts below the suggested minimum value intended to establish a UWF-Managed Life Income Gift can be considered and accepted with approval by the Office of Gift Planning. Contributions submitted for the purposes of establishing a life income gift with UWF should be mailed to:

UW Foundation
Attn: Office of Gift Planning

1848 University Avenue
Madison, WI 53726-4090

• Special documentation: The establishment of these gifts requires a signed annuity, trust, or pooled income fund agreement from the donor, W-9s from the beneficiary/ies, and sometimes direct deposit information. The processing of this documentation is managed by Gift Planning.
• Who can accept: Gifts and documentation should be processed via Gift Planning. Primarily, the Managing Director of Gift Planning signs off on the relevant gift agreements.
• Date of gift: Date on the check or date of securities transfer.
• Value recorded in 4WARD: The face value of the contribution. These are recorded as planned gifts with designations to our PG-22, PG-42, or PG-62 coding, to distinguish the fact that we have received this amount, but it is not currently available to campus for spending.
• Special handling: These gifts are complex, so any contributions or documents received related to this gift type should be handled by Gift Planning. When the remainder value of this type of gift is ultimately received from US Bank, it is deposited via special deposit per the donor’s instructions, and the amount is noted in the planned gift’s “Remainder Value” field.

Remainder Beneficiary Gifts

Such gifts include retirement plan assets, insurance policies, and investment accounts. Payments and all other documentation provided as a part of the administration of these gifts should be mailed to:

UW Foundation
Attn: Office of Gift Planning
1848 University Avenue
Madison, WI 53726-4090

• Special documentation: We typically receive mailed communications from the financial administrator of these gifts (i.e. Fidelity, MassMutual, US Bank, etc.) confirming the named beneficiary, as well as statements confirming recent activity and value of the account. The financial administrator will often send a Receipt and Release-type document with distributions which should be signed by an authorized signer.
  • Note: Administrators of IRAs will often ask that beneficiaries establish “inherited” accounts for the purposes of receiving a transfer of the distribution due from the decedent’s account. Then, we request a distribution, and that inherited account is closed. This is a process that we avoid when possible, as it requires an extensive amount of paperwork, and isn’t legally necessary.
• Who can accept: Gifts and documentation should be processed via Gift Planning.
• Date of gift: The gift date for inherited accounts is determined by Finance as inherited accounts don’t follow the date received/face value model.
• Value recorded in 4WARD: The value of inherited accounts is determined by Finance as inherited accounts don’t follow the date received/face value model.
• Special handling: Checks received at the lockbox or through other channels besides via Gift Planning, that appear to be a part of a bequest or other estate payout should be brought to the attention of Gift Planning to ensure appropriate handling: that we are the correct legal entity to receive the gift, whether it should be receipted, that it is recorded correctly in 4WARD, and that relevant internal staff and campus partners are aware of the gift and will be stewarding it.

Internal Donor Designated (IDD) Funds

IDD Funds are vehicles that afford temporary gifting solutions for donors to make a contribution to UWF while determining final designations of funds. Donors setting up an IDD fund will serve in an advisory capacity only and shall only be authorized to make recommendations for transfers from the IDD fund to benefit another UWF fund set up to benefit UW-Madison. The donor/advisor may make recommendations for transfers from the IDD fund to either existing or newly established UWF funds.

The purpose of an IDD Fund is not to serve as a long-term holding fund for the donor, but as a temporary solution while the donor determines their interest. As a result such funds may only be set up on a callable basis for a 5-year term starting on the date of the donor’s signature on the gift agreement. In addition, a donor creating an IDD fund may not designate a successor donor/advisor to act in the event of their death or incapacity unless the fund was established jointly by two donors (i.e., a married couple). At the end of fund’s term, or upon the death of the donor(s)/advisor(s), all money from the IDD fund must be transferred to another UWF fund(s) as outlined in the IDD fund agreement.

To establish an IDD fund a donor must make an outright gift or pledge/gift commitment of $50,000 or more. The funds in an existing IDD fund may not be rolled over to create a new IDD fund. If established via a pledge/gift commitment, the term of the pledge/gift commitment may be no longer than one year less than the term of the IDD fund being established. In most cases the maximum length of a pledge/gift commitment will be 4 years. There is no limit on the amount or number of times a donor may contribute to their IDD fund, however all gifts to the same fund will be subject to its expiration date set in the fund agreement.

IDD fund expenditures may only go to WFAA funds; they cannot be made directly to campus or to other third parties (e.g., students, businesses, and other non-profits). Expenditures from a IDD fund can be used to create a new WFAA fund and need not go to only existing WFAA funds. Requests to use IDD fund transfers to meet separate pledges or commitments will need to be evaluated by the GAC for materiality and reporting impacts prior to approval.

Gifts made to a IDD fund may not be matched as part of a WFAA challenge match. IDD funds will only be matched at the time of transfer from the IDD fund to another WFAA fund that is match eligible

• Special documentation: A gift agreement will be required to establish an IDD fund.
• Who can accept: Gift Planning in conjunction with Legal. Requests for deviations from the above parameters must be approved by the Gift Acceptance Committee. In rare circumstances the Gift Acceptance Committee may approve the creation of a quasi-endowed IDD Fund or a longer fund term with good reason.
• Date of gift: The donor will be receipted when gifts to the IDD fund are received by UWF and not when later transfers from the IDD fund to another UWF donor fund are made. Transfers from the IDD fund to another UWF fund will be done via an accounting transfer and for that reason the IDD fund donor will not be recognized as a contributor to the end recipient UWF fund or campus unit. In addition, gifts made to an IDD fund may not be eligible for a donor challenge match. A transfer from an IDD fund will be matched at the time of transfer from the IDD fund to the separate UWF fund that is challenge match eligible.
• Value recorded in 4WARD:
  • If Cash/Check/Credit Card: The face value of contribution.
  • If Publicly Traded Securities: The gift value is calculated as the average of the high and low values of the same security on the date of the gift.
• Special handling:
  • All gift types are acceptable for contribution to the donor’s IDD fund. Please note that while UWF does not have a policy to prohibit a donor’s private foundation or external DAF from making a payment to their IDD fund, donors are encouraged to talk with their DAF and/or private foundation advisors before assuming such gifts can be made. For example, DAF sponsoring organizations may not approve contributions to a UWF IDD fund for which the donor has an advisory role.The minimum amount of each transfer from an IDD fund is $10,000.No transfers from an IDD fund shall be made for which goods or services will be provided to the donor(s) as a result of the transfer.
  • Transfers from an IDD fund cannot be used by a donor to make payments on a pledge or gift commitment to another UWF fund without approval by the Gift Acceptance Committee.

Other Issues

Faculty and Staff Gifts

Faculty and staff are among UW-Madison’s most loyal and generous supporters. Gifts and bequests from faculty and staff have had a transformative impact on programs across the university. Recent changes and clarifications in the area of impermissible private benefit have prompted review and refinement of faculty and staff gift guidelines. When a current faculty or staff member wishes to give a gift for the benefit of UW-Madison or one of its affiliates, there are two areas of particular concern: (1) whether the donor has a personal stake – beyond mere philanthropic intent – in the designated purpose for which they make a gift and, (2) whether the donor may receive a private benefit from the gift that is considered more than incidental. The first impacts the donor’s ability to take a charitable tax deduction, while the second relates to UWF’s charitable mission to fundraise for UW-Madison and not private individuals.

A private benefit is defined more broadly than just the presence of a donor receiving a financial benefit, and could also include the prestige or access to other opportunities that a faculty member would gain as a result of the gift. However, private benefits are permissible so long as they are insubstantial and not the intended primary result of a charitable gift – or, in other words, they are “incidental” to the gift.

These considerations bear on both UWF’s 501(c)(3) status and the propriety of the donor’s charitable income tax deduction. They are also relevant to institutional reputational concerns and the appearance of conflicts of interest with respect to donor giving. For those reasons, it is not permissible for faculty and staff members to make gifts:

• That result in more than an incidental personal benefit; and
• To create a fund for which they reserve the ability to direct expenditures because of their status as the donor.

Many considerations factor into decisions about gift permissibility, and it is not possible to address all potential scenarios for current faculty and staff giving in this policy. The examples below are intended to provide some clarity for those situations which are generally acceptable and those which are generally prohibited under the Gift Acceptance Policy. Any questions or scenarios not addressed below should be referred to the Gift Acceptance Committee before a gift is made.

Acceptable Donation Scenarios

The following types of gifts and/or gift purposes are acceptable for current faculty and staff members:

• Donations to capital project or building campaign funds, as such projects benefit the campus and university as a whole, even if related to the donor’s unit of employment.
• Donations to annual and discretionary funds, even if in the donor’s unit of employment, as such funds are broad in purpose and used for a myriad of expenditures.
• Donations to create or support a scholarship fund, graduate student support fund, or emergency student support fund, even if in the donor’s unit of employment, as long as recipients are selected in accordance with standard university policies and procedures.
• Estate, charitable remainder trusts, life insurance, or other deferred gifts that will be received once the faculty or staff member is no longer employed by the university.

Acceptable Donation Scenarios with Specific Conditions

The following types of gifts and/or gift purposes are acceptable for current faculty and staff so long as specific conditions are met:

• Donations by a faculty member to an existing chair or professorship fund in the donor’s unit of employment provided (1) such gifts total less than $2,500 annually or (2) if the donor’s gifts total more than $2,500 annually, the donor is precluded from holding the position now or in the future.
• Donations to create a new professorship, chair, etc. in the donor’s unit of employment provided
• the donor is precluded in writing from holding the position now or in the future and (2) holders are selected in accordance with standard university policies and procedures.

Prohibited Donation Scenarios

The following types of gifts and/or gift purposes are prohibited for current faculty and staff:

• Donations to create or support an existing research fund that the faculty member has spending authority for.
• Donations by a faculty member to an existing professorship, chair, etc. while the donor is holding the position.

Please note that gifts from spouses of faculty or staff members are treated as if they were made directly by the faculty or staff members for the purpose of this policy.

Special Rules for Donations by Deans, Department Chairs, and Others

Because Deans, Department Chairs, and others in positions of authority at the University have additional fundraising job duties and authority to direct expenditures from donor funds, they are subject to additional giving restrictions during their tenure in those roles. Such individuals may not give gifts totaling more than $2,500 annually to funds from which they may authorize expenditures for their own salary, travel, and other costs from which they directly benefit.

Education, Compliance, and Monitoring Education, compliance, and monitoring to enforce this policy is a shared responsibility of UW-Madison administrators and the Gift Acceptance Committee, Gift Services, and Development staff. Campus administrators are asked to share these guidelines with faculty and staff within their respective units, while UWF employees are responsible for identifying potential faculty giving scenarios and supporting faculty and staff members with policy interpretation and guidance.

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Appendix

Policy Owner: Gift Acceptance Committee
Applies to: All staff
Approved by: Gift Acceptance Committee
Effective Date: 4/14/2026
Contact: Rebecca Weitz, Managing Senior Director, Gift Services

Notes

[1] Internal Revenue Service, Pub. No. 526, Charitable Contributions, p. 2 (Feb 26, 2025), available at https://www.irs.gov/pub/irs-pdf/p526.pdf (last visited May 14, 2025).

[2] Internal Revenue Service, Pub. No. 561, Determining FMV, p. 2 (December 2024), available at https://www.irs.gov/pub/irs-pdf/p561.pdf (last visited July 28, 2025).

[3] See Internal Revenue Service, Charitable Contributions – Quid Pro Quo Contributions, (last updated Nov. 25, 2025),  contributions.

[4] Amounts indicated by “for 2026” are updated annually by the IRS.