Here is an example of Lynne Wester`s language from Donor Relations Guru, which you can have checked by your general counsel and then have in your gift agreement: here are some examples of gift agreements: these are just examples. Each gift convention must be individual to meet the particularities of your situation. *This was also included in section 11 of the gift agreement template above. Model gift agreements provided by the Association of Donor Relations Professionals and Tulsa County. In the absence of donor agreements, the university will rely on simultaneous documents to give indications of the donors` intention when donors are no longer alive or available. To the extent possible, the university should respect the original intent. If this is not possible, the release or modification of the object of a gift is subject to Utah code 51-8-501 (Uniform Management of Institutional Funds Act). le.utah.gov/xcode/Title51/Chapter8/C51-8_1800010118000101.pdf and perhaps need to be approved by the Attorney General (AG) in order to use the funds for other purposes. Units and/or departments that wish to make changes to a charitable gift should contact the Vice President of Advancement or the Senior Director of Advancement Services for instructions on the process. The process includes identification and documentation: this collection provides tips on how to reduce the risk of unfulfilled promises or donors who can`t be traded on a gift, as well as templates and templates that you can customize to establish your own agreements. You will also find instructions for accepting assets other than cash, such as arable land and cryptocurrency. Here is an example of a gift contract for real estate that was created by Tulsa County.
In cases where a group of donors decides to coordinate efforts to collect gifts, to create a “real foundation” for specific purposes, which will bear the name of a professor, an advisory board, a deceased classmate, etc., a memorandum will be implemented for the multi-donor endowment. The unit development manager should be the point of contact to facilitate the process. It is recommended that the authorization of the family or the honourable person has been granted prior to the establishment of a foundation for a monument or to honour a person. The minimum amount of funding for a foundation is $25,000 and must be completed within five years, if not completed, the gift is considered superfluous for the stated purpose. The gift and deposit form documents the donor`s intention and signature and is considered a signed contract promise. The entire amount promised is recorded at the time of signing in the university`s fundraising amounts. (However, commitments of funds advised by donors are recorded at the time of receipt of funds.) If a donor plans to recommend a grant from a CFO/CF to create a designated fund, an action protocol is used instead of a gift agreement. Usu Policy 528: Contract Signature Authority and Delegation are donation agreements that bind the university to legal obligations….