Gift Policy

The purpose of this policy is to identify the circumstances under which gifts that are purchased with University funds can/cannot be given, the form of such gifts can/cannot take, and, where applicable, any tax withholding or reporting requirements related to giving such gifts. Please see the link below for the complete policy, with the most common intsances listed below.

https://policies.syr.edu/policies/university-governance-ethics-integrity-and-legal-compliance/gift-policy/

Life Event Gifts to Employees

Gifts of tangible personal property, such as flowers, may be presented as an expression of celebration in the event of the birth or adoption of a child to the employee, an expression of concern in the event of an illness, hospitalization, or surgery of the employee, or an expression of sympathy in the event of the death of the employee or a member of the employee’s immediate family or household.

1. Under IRC Section 132(e) an employer may give tangible personal property gifts of nominal value on a tax free basis. The University has established its nominal value to be $150 or less. Gifts in excess of $150 must be authorized by the Division Head (for College of Law this is Dean Lau). The total value of any tangible personal property gift in excess of $150 may be taxable income to the employee recipient.

Gifts to Non-employees

Gifts of tangible personal property to non-employees (trustees, donors, business associates, visiting dignitaries, alumni, guests) that are not given as payment for services provided to the University are allowable as follows:

1. Gifts of tangible personal property, (ceremonial objects, regalia, Syracuse University clothing and accessories or other memorabilia, etc.) may be presented as an expression of recognition of an individual’s accomplishments or achievements at the University and/or in the community, or of life events (birth, death, etc.). Expenditures for gifts given to non-employees must be properly substantiated with appropriate documentation and reported to Disbursements Processing.

2. Gifts of cash or cash equivalents are not allowed (gift cards are not acceptable).

3. Such gifts, if in excess of $150, must be authorized by the Division Head of the paying department. The authorization must be documented and accompany the substantiation of the expense.

4. The value of gifts of this nature may be taxable to the recipient and reportable by the University to the recipient and to the IRS to the extent they exceed IRS thresholds. The $600 limit per year includes all transactions with the University not just gifts.  It can include payments for services, research subjects, and other similar payments.

Gifts to Students

A student is any currently enrolled individual who holds temporary, part-time, full-time, undergraduate and/or graduate status who is not a student athlete (as defined below in section 6).

1. Gifts of tangible personal property may be given to students for academic or other University achievement/recognition/competition, or as part of student-life events. Expenditures for gifts given to students must be properly substantiated with appropriate documentation and reported to Disbursements Processing. The value of gifts of this nature may be taxable to the recipient and reportable by the University to the recipient and to the IRS to the extent they exceed IRS thresholds. The $600 limit per year includes all transactions with the University not just gifts.  It can include payments for services, research subjects, and other similar payments.

2. Gifts of cash or cash equivalents are not allowed (gift cards are not acceptable).

3. Such gifts, if in excess of $150, must be authorized by the Division Head of the paying department. The authorization must be documented and accompany the substantiation of the expense.

4. Gifts made to students may impact the student’s financial aid package.