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Policy: IX.A.1

Issued: April 3, 1989

Owner: Vice President for Development

Latest Revision:

SOLICITATION AND ACCEPTANCE OF GIFTS AND BEQUESTS


**INACTIVE POLICY**

For Current Policies:
Policy Table of Contents

 

This policy has been replaced by Policy II.A.2. https://policy.itc.virginia.edu/policy/policydisplay?id=EXT-005

1.0 Purpose

The following policy statement, approved by the Board of Visitors in January 1989 has been prepared to assist the solicitation and acceptance of gifts from private sources. This statement is, in part, a codification of previous agreements. Any earlier regulations in conflict with this policy statement have been rescinded and any exceptions or variations can be made only with the approval of the Vice President for Development, the President, and the Board of Visitors.

The specific purposes of this policy are:

2.0 Policy [Top]

The following policy statement has been prepared for the use and guidance of persons who are concerned with the solicitation and acceptance of gifts from private sources. This statement is, in part, a codification of previous understandings. Any earlier regulations in conflict with this policy statement have been rescinded and any exceptions or variations can be made only with the approval of the President and The Board of Visitors.

For the purposes of this policy statement, the term "gifts" refers exclusively to private gifts (even though such gifts are often termed "grants" by corporations and foundations). These gifts are outright contributions received from private sources in which no goods or services are expected, implied or forthcoming for the donor and in which no proprietary interests are to be retained by the donor.

The Office of University Development is responsible for maintaining and increasing strong private financial support for the University. It is staffed to advise and assist schools, departments, or University-related foundations in order to improve their success in securing greater private support through utilization of its services. The Vice President for Development and his staff are also available to consult with prospective donors or their representatives concerning gifts or bequests.

The Development Office is the general clearing house for all fund- raising activities throughout the University. It shall function as adviser to the President on matters relating to the solicitation and acceptance of private funds, and shall provide the President with information concerning prospects for major gifts from private sources. Since many alumni and friends, corporations and foundations, and other private charitable organizations have special relationships with the University, the Development Office has the responsibility of coordinating fundraising efforts which involve these sources of support.

In addition, the Development Office is charged with the responsibility of reporting regularly to The Board of Visitors the total gifts and bequests from private sources made to the University either directly or through one of the University-related foundations.


University Development Responsibilities

The Office of University Development is the clearing house for all fundraising activities throughout the University. Many alumni and friends, corporations and foundations, and other private charitable organizations have special relationships with the University. Therefore, the Office of University Development must coordinate with all University-related foundations to track and coordinate fundraising efforts. The Vice President for Development serves as advisor to the President on the solicitation and acceptance of private funds and provides the President with information on all development programs of the University, including University- related foundations.

The Office of University Development is responsible for maintaining and increasing strong private financial support for the University. The Office is staffed to advise and assist schools, departments, and University-related foundations in the specialized fundraising areas of corporations, foundations, planned giving, and major gifts. Its purpose is to improve the University's success in securing greater private support for priority needs through use of its services. The Vice President for Development and the Office of University Development staff also consult with prospective donors and/or their representatives on lifetime or testamentary gift planning.

In addition, the Vice President for Development reports, at least quarterly, to the Board of Visitors all gifts and bequests from private sources made to the University either directly or through one of the University-related foundations.

3.0 Definitions [Top]

In this policy, "gifts" refers exclusively to private gifts, even though such gifts are often termed "grants" by corporations and foundations. These gifts are outright contributions received from private sources for which no goods or services are expected, implied, or forthcoming to the donor, and in which no proprietary interests are to be retained by the donor.

4.0 References [Top]

5.0 Approvals and Revisions [Top]


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