February 5th, 2019 12:55 PM by Michael Benevento
DOCUMENTATION REQUIREMENTS
Gifts must be evidenced by a letter signed by the donor, called a gift letter. The gift letter must:
• Specify the dollar amount of the gift
• Specify the date the funds were transferred
• Include the donor’s statement that no repayment is expected
• Indicate the donor’s name, address, telephone number and relationship to the borrower