Fund Stewardship and Administration. The Foundation is the primary depository of private gifts to the University. The Foundation shall act to ensure the intent of donors is well-documented and honored. The Foundation also administers gifts made directly to the University and other University-related but distinct entities. Such gifts shall be administered as “agency funds”; that is, funds that are not the property of the Foundation. The Foundation shall promptly acknowledge and issue receipts for all gifts on behalf of the UM Foundation and the University and provide appropriate recognition and stewardship of such gifts. The Foundation shall adhere to and periodically assess its gift-management and acceptance policies. When a distribution of donor-provided funds is requested by the University, the Foundation shall evaluate the proposed use to ensure that the use of these funds is in accordance with the intent of the donor. In performing this duty the Foundation shall rely primarily on the review and endorsement of appropriate University staff. When distributing gift funds to the University, the Foundation shall disclose any terms, conditions, or limitations imposed by donor or legal determination on the gift.
Fund Stewardship and Administration. The Foundation is the primary depository of private gifts to the University. The Foundation shall act to ensure the intent of donors is well- documented and honored. The Foundation also administers gifts made directly to the University and other University- related but distinct entities. Such gifts shall be administered as “agency funds”; that is, funds that are not the property of the Foundation. The Foundation shall promptly acknowledge and issue receipts for all gifts on behalf of the Foundation and the University and provide appropriate recognition and stewardship of such gifts. The Foundation shall adhere to and periodically assess its fund management and gift acceptance policies. At the request of the University, the Foundation and the University will work together to create a schedule for distribution of funds to the University as they are received by the Foundation for funds that are donor restricted to support a particular area of the University but that have no other restrictions. The Foundation shall provide to the University, as requested, comprehensive disclosure of all assets held by the Foundation for the benefit of the University. When donor-provided funds are distributed to the University, the Foundation shall evaluate the proposed use to ensure that the use of these funds is in accordance with the intent of the donor. When distributing gift funds to the University, the Foundation shall disclose any terms, conditions, or limitations imposed by donor or legal determination on the gift and shall make timely distributions.
Fund Stewardship and Administration. The Foundation is the primary depository of private gifts to the University and will transfer funds to the designated entity within the University in compliance with applicable laws, University policies, and gift agreements. The Foundation will act to assure the intent of donors is well documented and honored. The Foundation will establish, adhere to, and periodically assess its gift-management and acceptance policies. It will promptly acknowledge and issue receipts for all gifts on behalf of the Foundation and the University and provide appropriate recognition and stewardship of such gifts. The Foundation will vet the proposed use of donor provided funds to assure that the use of these funds is in accordance with intent of the donor. In performing this duty the Foundation will rely primarily on the review and endorsement of appropriate University staff. When distributing gift funds to the University, the Foundation will disclose any terms, conditions, or limitations imposed by donor or legal determination on the gift. The University will abide by such restrictions and provide appropriate documentation.
Fund Stewardship and Administration. The Foundation is the primary depository of private gifts to the University. The Foundation shall act to ensure the intent of donors is well- documented and honored. The Foundation also administers gifts made directly to the University and other University- are not the property of the Foundation. The Foundation shall promptly acknowledge and issue receipts for all gifts on behalf of the Foundation and the University and provide appropriate recognition and stewardship of such gifts. The Foundation shall adhere to and periodically assess its fund management and gift acceptance policies. At the request of the University, the Foundation and the University will work together to create a schedule for distribution of funds to the University as they are received by the Foundation for funds that are donor restricted to support a particular area of the University but that have no other restrictions. The Foundation shall provide to the University, as requested, comprehensive disclosure of all assets held by the Foundation for the benefit of the University. When donor-provided funds are distributed to the University, the Foundation shall evaluate the proposed use to ensure that the use of these funds is in accordance with the intent of the donor. When distributing gift funds to the University, the Foundation shall disclose any terms, conditions, or limitations imposed by donor or legal determination on the gift and shall make timely distributions.
