5 - 13.3
Administrative policy regarding voluntary gift support
- 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.
- Assistance and consultation. The division of institutional advancement is available to assist in the coordination of all fund-raising plans across Kent state university and its eight-campus system. The vice president for institutional advancement and/or designee should be consulted before any effort to enlist voluntary financial support is launched.
- The Kent state university foundation is a separate entity engaged by the university to receive, record, acknowledge, deposit and invest, and disburse all funds received as gifts. All such gifts must be made payable to the Kent state university foundation and designated as restricted or unrestricted for use by the university. The Kent state university foundation (“foundation”) is also designed by the university to 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 Kent state university foundation for use by or in support of the university.
- Contributions and gifts. Gifts of any kind that are made payable specifically to Kent state university (and not “Kent state university foundation”) cannot be reassigned to the foundation. Contributions that are inadvertently or otherwise made payable to “Kent state university” or one of its organizational units 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.
Policy Effective Date:Apr. 01, 2016
Policy Prior Effective Dates:11/4/1977, 3/11/1982, 7/19/1985, 10/3/2005, 6/1/2007, 3/1/2015