Relationship Between the University and the Foundation. The University and the Foundation mutually agree that the relationship between the Parties is of paramount importance to the ongoing and future success of both the University and the Foundation. As such, the Parties are equally committed to developing and maintaining a close relationship through open communication, trust, and cooperation. In furtherance of this relationship, the University Chancellor and the Foundation CEO shall meet regularly and communicate frequently to ensure the University’s priorities, along with the duties and responsibilities outlined herein, are well-coordinated and achieved. The University Chancellor is responsible for communicating the University’s priorities and long-term plans to the Foundation on a regular basis. The University Chancellor shall be provided an opportunity at least once per quarter to discuss campus needs and priorities with the Foundation CEO and within regularly scheduled Foundation board meetings. The Foundation serves as the official development office for the University and is responsible for the coordination of all fundraising activities conducted for the benefit of the University. The Foundation shall support the University and respective programs through the services outlined in Section 4 (Foundation Responsibilities), to the extent allowed by law, unless the Parties agree otherwise and when modified by an attachment to this Agreement. The Foundation shall ensure that all fundraising activities are consistent with the stated goals and priorities of the University and the Foundation shall not solicit or accept gifts that are inconsistent with such goals and priorities. The Foundation will always honor the Donor’s intent, and in the event the gift does not fall into the “stated goals and priorities” of the University, the Foundation will communicate with the University to ensure both parties are agreeable on the Foundation accepting the gift. The University recognizes that the Foundation is a private, independent corporation with the authority to keep its records confidential from public records requests, conduct its affairs under the direction of the Foundation Board, and fulfill its mission to support the University according to laws applicable to private, non-profit corporations. While recognizing this independence of operations, the Parties acknowledge that the conduct of the Foundation can have significant effects on the financial and reputational interests of the University. Therefore, and with the ...
