Gifts and advancement

This video features Baker Tilly’s higher education risk advisory specialists as they share the five stages of the gift management lifecycle, emphasizing due diligence, legal compliance and reputational risk management. Explore potential causes, risks and best practices on the misuse of donor funds, unspent donor funds, and donor reputation and gift acceptance.

The video highlights the following:

1. Overview of the five steps in the gift management lifecycle
2. Key risks associated with gift management and advancement
3. Best practices for an institution’s gift management and advancement strategy  
4. Five takeaways on what institutions should consider to address risks

Watch this 15-minute video for answers to these questions:

• What types of gifts might an institution be cautious about accepting, and why?
• What due diligence steps should be taken to ensure gifts align with the institution’s strategy and compliance?
• What role do internal controls and financial management systems play in supporting best practices?
• How should institutions handle online donations and ensure financial information security?
• What mechanisms should monitor compliance with donor intent and identify unspent funds?
• What are the implications of accepting overly restricted or controversial gifts, and how can institutions manage the associated legal, ethical and reputational risks?
• What are the IRS requirements for gift receipts and acknowledgment letters?

Presenters and subject matter specialists:

• Kimberly Macedo, CIA, PMP, Director, Higher Education Risk Advisory
• Caroline Strohman, CIA, Manager, Higher Education Risk Advisory

Does your institution have an effective and compliant gift management and advancement strategy in place that follows best practices and required controls? Baker Tilly can help.