Policy 2 Gift Acceptance
Section 2.7 Gifts of Tangible Personal Property
Gifts of tangible personal property, including but not limited to art, antiques, collections, manuscripts, books, and vehicles, may be accepted only after review and approval by the Foundation CEO or COO, and in some instances the University.
A gift of tangible personal property may be accepted only when:
- Such a gift is consistent with the mission of the University, or may be liquidated and the proceeds used by the University; and
- No financial or other burdensome obligation or expense is or will be directly or indirectly incurred by the UNGF because of the gift, unless approved by the Executive Committee.
Consistent with the donor’s intent for the gift, which must be documented in writing, UNGF may retain the gift of such property for University use, transfer the asset to the University, or liquidate it for the benefit of the University.
Gifts In Kind will be acknowledged by the item(s) listed with no value. The Foundation will give the donor credit for recognition of total giving. A Gift In Kind Contribution Form (see Appendix) must be completed and approved by the Foundation office prior to any gifts of tangible personal property being accepted from a donor.