GIFTS
Hester Memorial Library has derived great benefit from the generosity of its friends and patrons. Gifts of materials and money contribute to the development of the Library’s collections. These gifts support the academic programs of the University and help the Library provide services to a larger community than would otherwise be possible.
Gift of Materials
It is the policy of the Library to accept materials with the understanding that, upon their receipt, they become the property of the institution. Thereafter, the Library’s administration reserves the right to determine their retention, location, cataloging treatment, and other considerations related to their use or disposition.
The decision to add gift materials to the Library’s collections will be made following established collection criteria found in the Hester Memorial Library Policy Manual. The Library’s administration reserves the right to dispose of duplicate and unneeded materials when appropriate by whatever means it determines are in the best interests of the University. All gifts of materials will be considered gift-in-kind to the University and will be recorded in the Development Office.
On occasion, the Library may receive materials that are to be placed on loan for the purpose of providing special exhibitions, displays, or programs. In such cases, it is the responsibility of the lender to provide for adequate insurance and the responsibility of the Library to provide for adequate security. The Library cannot be held responsible for the damage or loss of any loaned materials.
Gifts of Money
The Library welcomes gifts of money and is prepared to allow the donors some latitude in specifying how these gifts are used. Donors may specify specific items for purchase. Such requests will be honored if the Library does not already have the items and they meet the established criteria for inclusion in the collection. Donors may also specify certain subject areas, leaving it to the Library’s administration to select specific items.
Endowment funds may also be established in honor or memory of individuals. Proceeds from such funds will be used according to the arrangements made between the donors and the Library.
All gifts of money will be processed through the Development Office.
Gifts of Equipment
The Library accepts gifts of equipment that are needed to support the programs and services of the institution. All such in-kind gifts will be recorded in the Development Office.
Acknowledgement of Gifts
A letter from the Development Office or President’s Office will acknowledge all nontrivial gifts. Records of all gifts will be maintained in the Development Office and statements useful for income tax purposes will be made available upon request.
Appraisal of Gifts
In order to protect both its donors and the University, and in accordance with current University policy, the Library will not appraise gifts. Because the University is an interested party in the transaction, the appraisal of any gift for tax purposes is the responsibility of the donor. The University may offer help to donors by providing the names of persons qualified to appraise their gifts and the appropriate IRS publications that explain the current law governing tax deductions for gifts.
Recognition of Gifts
All donors will be recognized appropriately. Major donors will be given special recognition through the Development Office. Other recognition means include such things as bookplates, certificates, announcements in institutional publications and releases to the news media as appropriate.