I currently do this using Raiser's Edge with the Events Module. If you search the archives I think there has been a lot of discussion about this. I can give you a quick overview and then you can ask me some particular questions if you'd like. There may also be others that do it differently. I...

We're not a college, but we would definitely include a donor of a G-i-K as a donor for any recognition/records we keep. The donation of needed materials is just as valuable as dollars. In the end it's less expenses to raise funds for.