Policies and Procedures

IV. GIFT ACCOUNTING
  C. RECEIPT OF GIFT


POLICY: IV.C.
Effective Date: 07/01/05
Last Modified: 07/01/05

When is the gift considered to have been received?

For cash:

A. If by mail, the postmark determines the date for receipting.

B. If by overnight delivery service, the date delivered determines the date for receipting.

C. If hand delivered, the date received in Arch Gift Accounting Office is the day of receipt.

For marketable securities:

A.   If the stock is a DTC transaction, the date the stock is recorded to an Arch owned account is the date of receipt.

B.   If the stock certificate is in the name of Arch, the date the certificate was issued is the date of receipt.

C.   If the stock certificate is delivered in the name of the donor, the date the irrevocable stock power is signed is the date of receipt.

For personal or tangible property:

A.   The date on the deed of gift, warranty deed, or other legal instrument transferring ownership is the date of receipt.


This page was last updated on Thursday, February 8, 2007 06:27 PM EST