This customizable template was created by the Community Foundation of Collier County and has been slightly modified. Be sure to customize section 2 in the template according to the purpose of your gift agreement. Other areas to be adapted are in parentheses. A foundation can be justified by a minimum gift of $25,000, either directly or over a maximum amount of five years. A donation contract must be concluded before a banner index can be created to hold the foundation`s funds. Funds received before the conclusion of a donation contract are paid into the university aid account. The Office of Advancement Services moves the funds held (by log transfer) as soon as a banner index is available. As a state-funded public university, the university must comply with federal law governing the admissibility of donor restrictions in a donation contract. These laws cover, but are not limited to, Title VI of the Civil Rights Act of 1964, Title IX of the Education Amendments of 1972, and the equality protection clause of the U.S. Constitution. National law and institutional policy may also limit the university`s ability to accept scholarships limited to certain classes of protected persons. Here are some examples of gift agreements: these are just examples.
Each gift convention must be individual to meet the particularities of your situation. If an existing scholarship is difficult to award, the development manager will work with the donor (if it occurs) to unlock or change gift restrictions. All changes to a gift contract are recorded as a change to the agreement. If several changes are expected, a modified and adapted donation agreement will be executed to ensure that the resulting agreement is isolated and that it offers a complete history of the Fund. In cases where the agreement signatory is no longer living, the development manager should contact the Senior Director of Advancement Services to receive instructions on the process. 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. Scholarship criteria must, however, be approved by the Office of Advancement Services….