Scope
All University employees
Policy Statement
The University accepts gifts in support of and to further its mission of teaching, research, and serving the public good. No gift may be counted as a contribution to the University until the asset is irrevocably transferred from the donor to the University and supports its mission.
Gifts-in-kind received by any office or department must be accompanied by an independent appraisal if the donor states the fair market value is more than $5,000. Gifts-in-kind that do not contribute to the University’s mission will be sold.
Gifts of real estate must be approved in advance of their acceptance by the Executive Vice President/Chief Financial Officer in collaboration with the Vice President and Chief Development Officer and the University’s General Counsel.
Policy Administration
Links to Procedures and Related Information
Date: September 2005