Summer Institute for Educational Fundraising Pre-Institute Sessions-Gift Agreements and Compliance

Gift Agreements and Compliance - Harrell McCrory 2023 Final

Pdf Summary

The document discusses gift agreements and compliance in the context of fundraising for higher education institutions. It provides an overview of gift documentation and the importance of donor intent. The document explains the different ways donor intent can be recorded, such as through letters or formal written agreements. It also outlines the types of formal gift documentation, including gift agreements and statements of understanding.<br /><br />The benefits of gift agreements are highlighted, including increased donor trust, compliance with donor intent, and the ability to make changes if necessary. On the other hand, poorly executed agreements can lead to unspent or overspent funds, non-impactful philanthropy, donor dissatisfaction, and public embarrassment.<br /><br />The document also discusses the elements of healthy gift agreements, which include clear revenue sources and broad, flexible terms. It emphasizes the importance of compliance and proactive education and communication among various stakeholders.<br /><br />The document addresses the issue of restrictions or limitations on recipients based on factors such as citizenship, gender, religion, and marital status/children. It explains how such restrictions can violate various laws and regulations.<br /><br />Furthermore, the document provides guidance on language to avoid in gift agreements and mentions the Uniform Prudent Management of Institutional Funds Act (UPMIFA) which allows for spending from endowments and the alteration of restrictions if necessary.<br /><br />The document concludes with a section on technical aspects of gift agreements, including the parties involved, funding source information, fund structure, use information, and fund administration. It also references relevant laws, policies, and regulations related to equal opportunity, non-discrimination, and gender equality.<br /><br />Overall, the document provides a comprehensive overview of gift agreements and compliance, highlighting the importance of clear documentation and adherence to donor intent in fundraising efforts for higher education institutions.

Keywords

gift agreements

compliance

fundraising

donor intent

gift documentation

formal written agreements

healthy gift agreements

restrictions on recipients

UPMIFA

technical aspects of gift agreements