I. Cash, Stock, and Other Securities
Gifts of cash, stock and other securities from alumni, corporations, foundations, organizations, and friends will be acknowledged in the following manner.
Cash gifts of $9,999.99 and below:
All donors of cash gifts of $999.99 and below will be sent an acknowledgment letter from the Office of Gift Management Services within 48-72 hours of receiving the gift. This includes direct mail donors, other individuals, corporations, foundations, and organizations. Exclusions may include memorial gift, first-time donors, and matching gift donors.
Cash gifts of $10,000.00 and above:
Gifts of $10,000 and above from any individual will be acknowledged as indicated above as well as by a personal phone call from the assigned Development Officer or Coordinator of Annual Giving. The Advancement Coordinator will notify the appropriate development officer by email when a gift of this size arrives in the Office of Advancement.
Gifts of Stock and Other Securities:
Gifts of stock and other will be acknowledged regardless of the amount with a letter indicating the official date of transfer, name of the stock, number of shares, and the fair market value at the time of the transfer to the College. The fair market value on the date given will be the amount credited to the donor.
All pledges will be acknowledged by personal letter regardless of the amount. (For the purpose of this document, a pledge will signify a written commitment to financially support Cumberland University.) If applicable, letters will specify the purpose of the gift, the terms, and the schedule of payment.
Pledge payments will also receive an acknowledgment letter indicating amount of payment and remaining balance on pledge.
All completed multi-year Campaign pledges will receive a special acknowledgment signed by the President.
III. Memorial Gifts
All memorial gifts will be acknowledged by letter to the donor. Family members will receive a memorial card or donor report indicating who made a contribution in memory of their loved one on a consistent basis as determined by the Advancement Coordinator.
IV. In-Kind Contributions
All in-kind gifts will be acknowledged by letter, which will include a description of the actual item donated.
V. Bequests and Bequest Expectancies
All bequests of any amount will be acknowledged by letter, which will include specific details of the bequest. Acknowledgments will be sent to the executors of the estate and/or the appropriate designee. The Advancement Coordinator will make the determination to send any acknowledgments to family members who may or may not be involved in the estate.
VI. Gifts of Personal Assets
Gifts of Personal assets, i.e. life insurance, income interest, real estate, and personal property will be acknowledged by letter, which will include specific details of the gift.
VII. Other Deferred Gifts and Special Gifts
Donors who give other deferred or planned gifts such as charitable lead trusts, charitable remainder annuity trusts, and charitable remainder unitrusts will receive a personal acknowledgment letter. The letter will include any specific details of the gift.
VIII. Matching Gifts
Corporate donors who participate in the Colleges matching gift program will receive an acknowledgment letter. Individual donors (whose employers made the gift) will be notified by acknowledgment letter when the College receives a return on a matching gift.