Frequently Asked Questions

What is considered a non-cash gift?

Why does the University of Alaska need to know about gifts we give?

Are all non-cash gifts/awards reportable to the university?

What is meant by the “fair market value”?

I heard that only non-cash gifts/awards valued at $600 or more must be reported to the IRS; why does UAF require reporting when the value exceeds $50?

Do employees or non-employees receiving gifts need to be reported?

If university funds were not used to purchase the gift/award, does it still have to be reported?

My department is giving away items that were purchased through a restricted fund grant, are they still reportable?

What information should I gather from the gift recipient?

Why do we need to gather personal information from the recipient?

What if the recipient of the gift/award doesn’t give me his social security number?

How often do non-cash gifts/awards need to be reported?

Is there a specific format used for reporting non-cash awards?

Where do I find the reporting template?

Where do I send the report?

How do I password encrypt the report?

Who in my department is responsible for submitting the non-cash transactions reporting?

Where can I get more information?

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