(1) To ensure coordinated management of externally supported prizes at La Trobe University. (2) This Policy applies to (3) External prizes are often part of a broader relationship for staff in Schools and on campuses. However, they are also a critical element in the University’s philanthropic agenda as they are an entrée to fundraising for more significant support. (4) External prizes are smaller gifts which must be managed appropriately and the donors stewarded well so that they can be encouraged to increase their level of giving. (5) Therefore, the management of prizes is a critically important activity and responsibility for it must be undertaken as follows: (6) The Alumni and Advancement Office is responsible for the co-ordination, assignment and management of donations, donors and prospective donors to La Trobe University. (7) Externally supported prizes are often part of a broader relationship for staff in Schools and on campuses. However, they are also a critical element in the University’s philanthropic agenda as they are an entrée to fundraising for more significant support. Prizes are smaller gifts which must be managed appropriately and the donors stewarded well so that they can be encouraged to increase their level of giving. (8) Externally supported prizes to the University, regardless of source or value must be established by the Alumni and Advancement Office in conjunction with the relevant department, School or campus. (9) Externally supported prize gifts must be processed through the La Trobe University Foundation so that donors of monetary prizes can be issued with an official receipt for tax purposes and all donors of gifts-in-kind can be issued with an acknowledgement letter which states the advised value of the gift. (10) The University reserves the right to refuse any prize if any of the grounds outlined in the Gift Policy are recognised. (11) Staff in Schools and on campuses are responsible for advising the Alumni and Advancement Office of potential external prize donors. (12) The Alumni and Advancement Office will be responsible for: (13) Staff members in the Schools or on campuses in the area where the prize has been established have an obligation to develop and maintain positive relationships with donors of all relevant prizes. (14) The Alumni and Advancement Office will be responsible for overseeing the on-going relationship with the donor of the gift, working in conjunction with the staff in the School or campus, thus ensuring stewardship commensurate with the level of the gift is offered to the donor. (15) The Alumni and Advancement Office will be responsible for recording and maintaining information on the donor and the gifts in the Alumni and Advancement Office database. (16) It is the responsibility of the Alumni and Advancement Office to request payment of prizes each year, in accordance with the terms of the formal agreements established. (17) All payments for prizes must be processed through the La Trobe University Foundation and all philanthropic income derived from prizes must be directed through the Foundation. The Foundation shall be responsible for issuing the official tax receipt to the donor. (18) Prize payments should never be requested to be sent directly from the donors to the recipients as this means the donor cannot claim a tax deduction for their gift. It also prevents the University from carrying out appropriate donor stewardship. (19) The School/campus is responsible for identifying the recipients of their externally supported prizes. (20) The Alumni and Advancement Office is responsible for initiating the process to distribute the prize money/gifts-in-kind to students. (21) The University has established a Donor Relations Plan which outlines appropriate levels of stewardships for donors, depending on the level of their gifting, the duration of their gifting and the total value of their gifts over time. (22) The Alumni and Advancement Office is responsible for managing the stewardship of al prize donors in accordance with the Donor Relations Plan. (23) The Alumni and Advancement Office will be expected to determine a suitable form of on-going communication for the donor, which will be commensurate with the nature of the gift and the relationship with the institution. This communication may take the form of: (24) The Prize Ceremonies are an important element in the stewardship program for prize donors. Therefore, a consistent approach is required to ensure that the events are offered at a high standard across the organisation and provides a consolidated model of prize event administration. (25) The University Events team will have primary responsibility for coordinating and managing all Prize Ceremonies for all Schools and Campuses, whether they are stand-alone celebrations or part of other events. (26) The University Events team will work collaboratively with the Schools, Campuses and Alumni and Advancement Office to ensure that each event has a look and feel that meets that needs of the host area. (27) For the purpose of this Policy:External Prizes Policy
Section 1 - Background and Purpose
Section 2 - Scope
Top of PageSection 3 - Policy Statement
Top of PageSection 4 - Procedures
Overview
Establishment of an Externally Supported Prize
Management of the Relationship with the Donor
Gift Processing
Prize Recipients
Stewardship of Donors
Alumni and Advancement Office responsibilities
On-going Communication
Management of the Prize Ceremonies
Section 5 - Definitions
View Document
This is not a current document. It has been repealed and is no longer in force.