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Herzing University

Donation Gift Policy

Gift Acceptance Policy, Procedures, and Classifications

Gift Acceptance Policy, Procedures, and Classifications Herzing University, Ltd. (the “University”) seeks outright gifts and future gift commitments that are consistent with its mission.  

Donations generally will be accepted from individuals, partnerships, corporations, organizations, government agencies or other entities without limitations—unless acceptance of gifts from a specific source is inconsistent with the organization’s beliefs, values and mission.  

The University will not accept gifts from companies whose products may be harmful to our students or from donors whose requests for public recognition are incompatible with our philosophy of appreciation.  

In processing, all gifts must be accompanied by the Herzing University gift form so they will be coded for the constituency source from which the gifts were given (e.g., individual, corporation, foundation, organization, etc.). Multiyear pledges for major gifts are encouraged, but for no more than three to five years. Donors should complete and sign a gift or pledge agreement form detailing the purpose of the gift, payment schedule and how they wish their names to appear in donor‐recognition materials. The University priorities include gifts for unrestricted, restricted and endowment purposes.

Unless and until the Board of Trustees decides otherwise, ONLY the following types of gifts will be accepted:  

  • Cash. Cash gifts are acceptable in any form, including by check, money order, credit card, or on‐line. Donors wishing to make a gift by credit card must provide the card type (e.g., Visa, MasterCard, American Express), card number, expiration date, and name of the card holder as it appears on the credit card.  
  • Marketable Securities. Marketable securities may be transferred electronically to an account maintained at one or more brokerage firms or delivered physically with the transferor's endorsement or signed stock power (with appropriate signature guarantees) attached. All marketable securities will be sold promptly upon receipt unless otherwise directed by the University’s Finance Committee of the Board of Trustees (“Finance Committee”). In some cases marketable securities may be restricted, for example, by applicable securities laws or the terms of the proposed gift; in such instances the decision whether to accept the restricted securities shall be made by the Finance Committee.
  • Bequests and Beneficiary Designations under Revocable Trusts, Life Insurance Policies, Commercial Annuities and Retirement Plans. Donors are encouraged to make bequests to the University under their wills, and to name the University as the beneficiary under trusts, life insurance policies, commercial annuities and retirement plans.
  • Charitable Remainder Trusts. The University will accept designation as a remainder beneficiary of charitable remainder trusts.
  • Charitable Lead Trusts. The University will accept designation as an income beneficiary of charitable lead trusts.
  • Tangible Personal Property. The University will accept personal property ONLY to the extent it is usable by the University.

Unless and until the Executive Committee of the University decides otherwise, the following designations for gifts will be used:

  • Unrestricted – all gifts are considered unrestricted unless designated at the time of the gift or unless the gift was solicited for a special purpose in which case it must be used for that purpose.
  • Temporarily Restricted – gifts given for a special purpose will be considered temporarily restricted until used for that purpose.  The only special purpose which may be designated is for general student scholarships unless the donation is $10,000 or greater.
  • Permanently Restricted – gifts of $5,000 or more may be designated to the Suzanne R Herzing Scholarship Fund, the income from which is used for student scholarships each year per the policy of that scholarship fund.  If a donor wished to establish a named permanently restricted fund, the minimum donation is $50,000.  

All information on the contributor and the contribution is confidential except the contributor’s name and contribution level as well as year of graduation for alumni.   However, requests for anonymity will be respected. 

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