University Gift Agreement

If a donor wishes to make a simple change or two to their existing gift contract, a donation agreement is set. If several changes are expected, an amended and revised gift agreement will be implemented to ensure that the resulting agreement is isolated and provides a complete history of the Fund. The donation and deposit form records the donor`s intent and signature and is considered a signed promise. The total amount promised is recorded in the university`s donations at the time of signing. (However, donor-advised commitments are counted when funds are received.) When a donor plans to recommend a grant from an FAD/CF to create a designated fund, a letter of intent is used instead of a donation agreement. In the absence of donor agreement, the university will rely on simultaneous documents to provide guidance on the intent of donors when donors are no longer alive or available. Where possible, the university should respect the original intent. If this is not possible, disclosure or modification of the purpose of a gift is subject to The Utah Code 51-8-501 (Uniform Prudent Management of Institutional Funds Act). le.utah.gov/xcode/Title51/Chapter8/C51-8_1800010118000101.pdf and eventually requires approval by the Generalbundesanwalt (AG) for permission to use the funds for other purposes. Units and/or departments that wish to make changes to a charitable gift address the vice-president of the advancement or the senior director of advance services to receive instructions on the process. The process includes identification and documentation: these gift agreement forms are University of Michigan librarians who collaborate with library collection donors and can be useful to other members of the University of Michigan community.

In 2017, Utah State University made an administrative decision to maintain scholarship criteria that could be problematic in gift contracts established before 2017. It was agreed that any agreement that will be amended after 2017 and that contains problematic scholarship criteria will be repealed or amended at the time of the amendment. If an existing scholarship is difficult to award, the development manager works with the donor (if any) to release or modify the restrictions on gifts. All changes to a gift contract are counted as an amendment to the agreement. If several changes are expected, an amended and revised gift agreement will be implemented to ensure that the resulting agreement is isolated and provides a complete history of the Fund.