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Policy Details

5 -13.1

Administrative policy regarding voluntary gift support

(A)       Purpose. In order to minimize duplication of effort, improve coordination of programs and increase the active participation of faculty, staff and students in the identification, cultivation and solicitation of contributions for the support of university programs, all fund-raising activities shall be coordinated by the vice president for institutional advancement through the development office.

 

(B)       Assistance and consultation. The university development staff is available to assist in the coordination of all fund-raising plans. The director of development and his/her designee should be consulted before any effort to enlist voluntary financial support is launched.

 

(C)       Authority and scope of university foundation. The university foundation

has been established as the gift receiving arm of the university and has been approved by the internal revenue service for the receipt and official acknowledgment of tax-deductible contributions. The university foundation, governed by a board of directors composed of campus and community members, will receive, record, acknowledge, deposit and invest, and disburse all funds received as gifts made payable to the university foundation for restricted or unrestricted use by the university. Likewise, the university foundation will receive, record, acknowledge, maintain, reassign, convert or dispose of all "gift-in-kind" of property, materials, equipment, books and artifacts donated in the name of the university foundation for use by or in support of the university.

 

(D)       Contributions and gifts. It is important to note that gifts of any kind which are made payable specifically to the university cannot by law be reassigned to the university foundation. Contributions which are inadvertently or otherwise made payable to the university or one of its organizational units other than the university foundation must be deposited with the treasurer of the university, who will receive, record, acknowledge, deposit, invest, and disburse these tax-deductible contributions according to the wishes of the donors, and subject to all appropriate federal and state statutes.

 

Effective: June 1, 2007  

Prior Effective Dates: 11/4/1977, 3/11/1982, 7/19/1985, 10/3/2005  

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