See Section B.XIV.05 of the Faculty Handbook. Grants differ from gifts. Gifts involve voluntarily relinquishing resources without the expectation of goods or services in return. Grants generally require the college to perform a service. Particular care must be exercised to assure that the college can perform the contracted service.
Some fund raising activities are sales rather than gifts.
Sales of goods with profits benefiting a program are not gifts in most cases. Your officer and the Advancement Office will need to provide advice about the nature of fund raising activities. Gifts and grants should be received by the Office of Advancement.