IRS Form 8300

Policy Statement

Gifts raised by the Office of University Advancement and External Relations help Adelphi to carry out its mission to transform the lives of all its students. The University welcomes all gifts that support general operating costs, help build the endowment and fund a variety of special purposes that reflect both the needs of the University and the interests of its donors.

Reason for Policy

The intent of this policy is to provide Adelphi University’s leadership, faculty, staff and volunteers with guidelines that enable them to assist prospective donors, their families and advisors in making gifts to the University. By defining the types of gifts that are acceptable, the different forms gifts may take and the requirements for accepting gifts, these guidelines will facilitate the appropriate use and accountability of gifts received by Adelphi University. These policies and procedures are intended to provide a standardized and consistent approach to completion of the IRS Form 8300.

Who Is Governed by this Policy

Faculty, staff, volunteers

Policy

I. Who must file

Each person engaged in a trade or business who in the course of that trade or business, receives more than $10,000 in cash in one transaction or in two or more related transactions, must file Form 8300.

II. Definitions of Cash

The term “cash” means the following:

A. U.S. and foreign coin and currency received in any transaction.
B. A cashier’s check, money order, bank draft, or traveler’s check having a face amount of $10,000 or less that is received in a designated reporting transaction or that is received in any transaction in which the recipient knows that the instrument is being used in an attempt to avoid the reporting of the transaction under either section 6050I or 31 U.S.C. 5331. Note. Cash does not include a check drawn on the payer’s own account, such as a personal check, regardless of the amount.

III. When to file

File Form 8300 by the 15th day after the date the cash was received. If that date falls on a Saturday, Sunday, or legal holiday, file the form on the next business day.

IV. Where to file