Good Morning and Happy New Year! I need some quick advice for a meeting I have at 10 this morning and hoping you will share your wisdom.
We received a large 'grant' that what was presented to the donor and what the donor signed qualifies as a gift – we can spend it on the program as defined in the proposal, there is no return of monies if not spent and no reporting other than standard stewardship reporting. The budget (not shared with the donor but added internally in our academic area) has a line added for facilities and overhead costs – as you would see in a standard grant. I understand why our finance office is unable to record this as a gift, but I don't understand why this couldn't be one of the reconciled variances between our two office totals. The proposal and gift agreement and the grant letter all support it being a gift. Would you advocate for this to be a variance between Advancement and Finance or is there something I am unaware for counting as a gift?
Thank you!
Vicky
Vicky Medlock
Senior Director of Advancement Services
Rollins College
Institutional Advancement
407.691.1242 (O) 540.539.1930 (C ) | vmedlock@rollins.edu
1000 Holt Avenue – 2754
Winter Park, FL 32789
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