REGENTS’ POLICY
PART V – FINANCE AND BUSINESS MANAGEMENT
Chapter 05.14 – Gifts
P05.14.001. Definitions for P05.14.010 – 05.14.090
“Foundation” means the University of Alaska Foundation
P05.14.010. Acceptance of Gifts.
A.
B.
All gifts made to the university or for the benefit of the university, unless expressly
prohibited by the donor, will be are accepted, held, and managed by the University of
Alaska Foundation as set forth in the Articles of Incorporation of the University of
Alaska Foundation dated May 20, 1974, except for the following, which will be accepted
and held by the university:
1.
gifts of real property; and
2.
gifts of tangible personal property, that which are to be used directly in the
educational, academic, research or administrative programs of the university,
including athletics. ; in this paragraph, “educational” includes athletic.
The president is authorized to make exceptions to this policy.
(02-19-99)
P05.14.020. Role of the University of Alaska Foundation.
A.
The University of Alaska Foundation, is a separate and distinct non-profit 501(c)(3)
corporation, whose sole beneficiary is the University of Alaska,. has been The
Foundation was established to solicit, accept, manage, invest, act and serve as trustee of
for gifts, and disburse gifts made to benefit any or all portions of the university. Pursuant
to P 05.14.010 gifts made to or for the benefit of any component of the university are
held by the University of Alaska Foundation. Federal grants, contracts, and other
contracts for university performance are to be held by the university.
B.
Except as noted under P 05.14.010 gifts made to or for the benefit of the university are
will be held by the University of Alaska Foundation. FederalHowever, grants, contracts,
and other contracts for agreements requiring the university to performance services are to
be will be accepted and held by the university.
(08-19-94)
P05.14.030. Authority to Solicit and Accept Gifts.
A.
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Only those individuals specifically authorized by in accordance with regents’ policy or
university regulation may solicit or accept gifts on behalf of the university, regardless of
1
Gifts
whether such the gifts are to be held by the university or the University of Alaska
Foundation.
B.
Only tThe president is the only individual authorized to accept gifts of real estate. Gifts
of real estate These gifts may only will be accepted in accordance with university
regulation, which will set out a process by which such gifts are reviewed and evaluated in
accordance with university regulation R05.14.100 for potential liabilities, and budgetary
commitments and other relevant issues before they are being accepted.
C.
Gifts to be accepted and held by that may subject the university or the Foundation that
will subject the university to any continuing or substantial budgetary commitments
beyond the current fiscal year may only be accepted upon approval of the president. in
accordance with university regulation, which will set out a process by which such gifts
are reviewed and evaluated for potential liabilities and budgetary commitments before
they are accepted.
D.
Major fund-raising efforts with identified goals of $5,000,000 or more must be approved
by the board in consultation with the Foundation’s Board of Trustees. University
regulation R5.14.110 will prescribes the approvals, if any, required requirements for
fundraising campaign plans and approvals that are required for lesser fund-raising efforts.
[Comment: The addition of Foundation board consultation is a substantive change to
policy.]
E.
Subject to P05.14.010 and C. of this section, tThe president is authorized to solicit and
accept gifts on behalf of the Uuniversity of Alaska System or any sub-unit thereof. as a
whole or any of its components.
F.
With the exception of authority to accept gifts of real estate, tThe president may delegate
the authority to solicit and accept gifts in accordance with university regulation, except as
limited by regents’ policy 05.14.010.
(08-19-94)
P05.14.040. Gift Levels Required to Establish University Chairs and Similar Gifting
Opportunities.
The president will prescribe by university regulation tThe minimum gift dollar value levels
required to establish university chairs, professorships, lectureships, fellowships, scholarships,
endowments, faculty development gifts, and other named gifting opportunities either as
endowments or as annual commitments for funding are provided in regulation R05.14.040.
(08-19-94)
P05.14.08050. Gifting Opportunities for Facilities and Infrastructure Naming.
A.
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The president is authorized to establish naming opportunities that meet the minimum gift
guidelines in this policy. The recommended naming opportunities and gift requirements
or funding levels will be proposed by the respective chancellor may recommend naming
opportunities and approved for approval by the president. The president shall notify the
board of the naming opportunities and minimum gift requirement established for
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Gifts
significant facilities, improvements or areas which will may require board approval or
ratification in accordance with P05.12.080 - 05.12.082 for the actual naming.
B.
Minimum funding levels shall be established in accordance with the following
guidelines:
1.
Entire New Buildings and Building Additions.
New buildings, building additions, or and building wings may be named in honor
of a donor if a minimum of 50 percent of the privately secured funds for the
project, but not less than $1 million, is contributed by or at the direction of the
donor and the contribution is for $1 million or more.
2.
Unnamed Existing Buildings.
Currently unnamed buildings, building additions, or and building wings may be
named in honor of a donor, if a gift equivalent to at least 30 percent of the current
replacement value of the building, but not less than $1 million, is contributed by
or at the direction of the donor and the contribution is for $1 million or more.
3.
Portions of Buildings and Unnamed Renovations.
Gift requirements for the naming of individual rooms in new or existing
buildings, such as auditoriums, lecture halls, and lobbies, shall be approved on a
case-by-case basis. Consideration shall be given to such matters as type of usage,
visibility, traffic flow, condition, and current replacement value.
4.
Streets, Thoroughfares, Parks, Recreation Areas, Plazas, Improvements, and
Other Sites or Improvements.
Newly constructed or established streets, thoroughfares, parks, recreation areas,
plazas, improvements, and other sites or improvements may be named in honor of
a donor if at least 50 percent of the funds required for the project or improvement
is provided by or at the direction of the donor. Existing streets, thoroughfares,
parks, recreation areas, plazas, and other sites or improvements with generic
names may be renamed with a gift equivalent to at least 30 percent of the current
replacement value.
(06-10-04)
P05.14.05060. Valuation of Gifts.
For purposes of fund-raising campaign reporting, all gifts will be credited in accordance with the
standards adopted by the Council for Advancement and Support of Education, or comparable
nationwide standard, as provided by university regulation.
(08-19-94)
P05.14.06070. Confidentiality and Use of Donor Information.
05.14
3
Gifts
Any information regarding donors or prospective donors collected by university staff, and their
including personal, or financial, and other information regarding donors and potential donors
acquired or retained given in confidence to the university or the University of Alaska
Foundation, on behalf of the Foundation shall be considered confidential and will may not be
released to the public except to the extent as may be required by law. Any Rrequests for such
releases of the information will be referred to the Office of General Counsel.
(08-19-94)
P05.14.07080. Transfer of Gifts.
A.
Unless expressly prohibited by the donor or P05.14.010:1. tThe net proceeds from the
lease, sale or development of gifts or real property will be transferred to the University of
Alaska Foundation for management in accordance with donor intent. as may be
determined by the president; and [Comment: This is a substantive policy change
recommendation.]
B.2.
oOther gifts and endowments held directly by the university may also be transferred to
the University of Alaska Foundation, subject to the approval of the president.
B.
The president is authorized to make exceptions to this policy under procedures
established by university regulation.
(02-19-99)
P05.14.080. Gifting Opportunities for Facilities and Infrastructure Naming. [Section moved
to P05.14.050 above.]
A.
The president is authorized to establish naming opportunities that meet the minimum gift
guidelines in this policy. The recommended naming opportunities and gift requirements
or funding levels will be proposed by the respective chancellor and approved by the
president. The president shall notify the board of the naming opportunities and minimum
gift requirement established for significant facilities, improvements or areas which will
require board approval or ratification in accordance with P05.12.080 - 05.12.082 for the
actual naming.
B.
Minimum funding levels shall be established in accordance with the following
guidelines:
1.
Entire Buildings and Building Additions.
New buildings, building additions, or building wings may be named in honor of a
donor if a minimum of 50 percent of the privately secured funds for the project,
but not less than $1 million, is contributed by or at the direction of the donor.
2.
Unnamed Existing Buildings.
Currently unnamed buildings, building additions, or building wings may be
named in honor of a donor if a gift equivalent to at least 30 percent of the current
05.14
4
Gifts
replacement value of the building, but not less than $1 million, is contributed by
or at the direction of the donor.
3.
Portions of Buildings and Unnamed Renovations.
Gift requirements for the naming of individual rooms in new or existing
buildings, such as auditoriums, lecture halls, and lobbies, shall be approved on a
case-by-case basis. Consideration shall be given to such matters as type of usage,
visibility, traffic flow, condition, and current replacement value.
4.
Streets, Thoroughfares, Parks, Recreation Areas, Plazas, and Other Sites or
Improvements.
Newly constructed or established streets, thoroughfares, parks, recreation areas,
plazas, and other sites or improvements may be named in honor of a donor if at
least 50 percent of the funds required for the project or improvement is provided
by or at the direction of the donor. Existing streets, thoroughfares, parks,
recreation areas, plazas, and other sites or improvements with generic names may
be renamed with a gift equivalent to at least 30 percent of the current replacement
value.
(06-10-04)
P05.14.090. Regulations and Procedures.
The statewide office of chief development officer/foundation president will coordinate the
various offices of MAU development officers and relevant Foundation staff in the university in
developing university regulations and procedures regarding fundraising and these policies
gifting. The university regulation and procedures will shall be consistent with regents’ policy and
applicable policies of the University of Alaska Foundation.
(08-19-94)
05.14
5
Gifts
UNIVERSITY REGULATION
PART V – FINANCE AND BUSINESS MANAGEMENT
Chapter 05.14 – Gifts
R05.14.030. Authority to Solicit and Accept Gifts
The solicitation and acceptance of charitable gifts for the benefit of the Uuniversity of Alaska
will be done in manner that yields the greatest possible outcome for the best matches the intent
of the donor with the needs of the Uuniversity and the donor. Regents’ Policy requires that all
solicitations be coordinated through the Statewide Office of Development, in accordance with
the process established through the Prospect Management and Tracking System. The chief
development officer/foundation president will coordinate MAU development officers and
relevant foundation staff in developing and reviewing procedures for solicitation and tracking of
gifts.
A.
All University personnel who wish to seek charitable gifts from individuals or
organizations greater than $10,000 will coordinate cultivation and solicitation through the
appropriate campus development office which will coordinate with the Statewide Office
of Development. No Any cultivation and solicitation for gifts larger than of $10,000 or
more shall be made by any Uuniversity personnel shall be coordinated with the prior to
conferring with the appropriate campus development office and the Foundation.
B.
In addition to the above requirement, any campus cultivation and solicitation for gifts
greater than $25,000 will be coordinated through the system-wide Prospect Management
and Tracking System.
CB.
In addition to the above requirements, any cultivation and solicitation for gifts greater
than $100,000 must be approved by the respective MAU Cchancellor, prior to
solicitation.
DC.
In addition to the above requirements, cultivation and solicitations for gifts greater than
$500,000 must be approved by the University Ppresident, prior to solicitation.
(07-19-06)
R05.14.040. Gift Levels Required to Establish University Chairs and Similar Gifting
Opportunities
It has been tThe Uuniversity’s of Alaska’s practice is to name facilities, roads, endowments,
awards and other programs in honor of people who have contributed to the betterment of the
university. Because such these gifts will be are generally substantial in amount and may reflect
on the university in perpetuity, naming opportunities, and the associated terms and conditions
associated with such naming, shall be subject to final approval by of the Ppresident and in some
cases the Bboard of Regents when appropriate.
Principal responsibility for soliciting and arranging for naming opportunities resides with the
President and/or Chancellor and chief MAU head development officer of each major
administrative unit and either the respective chancellor or the president. They are Those
05.14
6
Gifts
soliciting are encouraged to adhere to the recommended funding minimums defined in this
guideline regulation in their preliminary negotiations, but However, they are also granted the
discretion, in consultation with each other and subject to final presidential and/or Board approval
by the president or in certain instances the board, to consider other funding arrangements that
would will best serve the wishes of the donor and the interests of the university.
The following criteria recommendations will be included in the taken into consideration for
naming opportunities:
A.
Faculty Awards and Endowments
1.
Endowed Faculty Chair
Provides support for a faculty member’s salary and related expenses, including
research, course development and professional conferences. Chairs may be
awarded for the entire length of a professor's tenure.
However, most
Professorships and Chairs have minimum terms and/or term limits, usually five
years, as may be determined by the chancellor.
2.
Minimum Endowment:
$2,500,000
Minimum Annual Gift:
$ 125,000
Lectureship Series/Artists in Residence
Provides support for honoraria and expenses for visiting faculty lectures, or
performances or for extended residencies of up to one year.
Minimum Endowment:
or
Minimum Annual Gift:
3.
$500,000
$25,000
Named Professorship
Provides support for an outstanding faculty member.
Minimum Endowment:
or
Minimum Annual Gift:
4.
$500,000
$25,000
Named Faculty Award
Provides an award to a University of Alaska faculty member for work in his/her
field of expertise.
Minimum Endowment:
or
Minimum Annual Gift:
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$100,000
$5,000
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Gifts
5.
Named Professorship
Provides income support for a visiting professor to come to a campus of the
Uuniversity of Alaska or for a University of Alaska professor to teach at another
university. These professorships will allow the university community to benefit
from talent expertise that would otherwise not be unavailable or allow the
university to share the expertise of our faculty with another university institution.
Minimum Endowment:
or
Minimum Annual Gift:
$250,000
$15,000
6. Use of the awards and/or earnings support from these endowments or annual gifts is
subject to some institutional interpretation, but typically these funds pay for:
--a. Salary and benefits
--b. Equipment, laboratory and computing
--c. Conference attendance and travel
--d. Costs associated with publishing, patent applications or artistic creation
--e. Summer compensation
--f. Graduate/undergraduate research assistant’s stipends
--g. New course development; release time/ and materials
--h. Relocation expenses
New endowments are invested in accordance with the University of Alaska Foundation
Investment Policy and are allowed to accumulate interest for 12 months before a faculty
member is chosen to be awarded the Professorship or Chair. Under no circumstances
will a are donors decide allowed to control who will receive the award.
B.
Student Awards and Endowments
1.
Named Student Awards
Provides funds support for students to pursue additional study in their chosen field
of study.
Minimum Endowment:
or
Minimum Annual Gift:
2.
$25,000
$1,000/year
Named Endowed Student Scholarship
Provides financial aid support to students for tuition and other costs. Selection
criteria may depends upon the donor’s preference and or the priorities of the
university.
Minimum Endowment:
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$25,000
8
Gifts
or
Minimum Annual Gift:
3.
$1,000 for a 4-year period
Named Endowed Graduate Fellowships
Provides financial support for graduate students.
Minimum Endowment:
or
Minimum Annual Gift:
C.
$100,000
$5,000
Other Endowments
1.
Named Program Fund
Named endowments may be established in areas of interest to donors, in
individual colleges or and departments for specific or unrestricted uses by the
Dean or Department Chair.
Minimum Endowed Gift:
2.
$25,000
Named Centers and Institutes
Research Institutes or and Centers of Excellence may be named. The endowment
However, the gift needed must be large enough to provide sufficient annual
income to be equivalent to the annual state appropriation to support the operating
budget of the Center or Institute.
3.
Named Colleges or Schools
Associating an individual, corporation or foundation other entity’s name with a
college acknowledges great significant commitment on the part of the donor.
These transformational gifts typically begin at approximately $25 million.
(10-07-04)
R05.14.080. Gifting Opportunities for Facilities and Infrastructure Naming
The proposal process for forwarding requests for establishing gifting opportunities for facilities
and infrastructure naming is as follows:
A.
Proposal:
A proposal will be submitted through the MAU head development officer to the
appropriate chancellor, or the president for statewide proposals. If the proposal is from
the system administration, it will be submitted to the chief development officer. A The
proposal must contain shall include the following:
1.
05.14
Name of donor;
9
Gifts
B.
2.
Biographical information regarding donor;
3.
A description of the space to be named, to include including the size, visibility,
and any other pertinent attributes;
4.
Gift amount;
5.
Statement regarding conformance with the recommended gifting level established
by regents’ policy P05.14.050 Gifting Opportunities for Facilities and
Infrastructure Naming.
56.
Length of time for the naming opportunity;
67.
Rationale for naming space in honor of donor.
Process:
Upon approval of the appropriate respective chancellor, a the proposal will be forwarded
to the statewide chief development officer for review. The chief development officer
may consult with the systemwide development council if it is deemed appropriate to do
so. After approval by t The statewide chief development officer, will forward the
proposal will be forwarded to the president, and to the board if applicable, for approval.
Notice of approval or disapproval by the president will be forwarded to the system
development office and the appropriate chancellor.
(10-07-04)
R05.14.100. Process for Accepting Gifts of Real Estate
This The process applies to for acceptance of real estate or interests in real estate is defined
below. (including pPatented and unpatented mining claims, and other real property interests such
as buildings) which that are intended as outright or deferred gifts to benefit the Uuniversity of
Alaska or the University of Alaska Foundation are covered by this regulation. This process does
not apply to purchases of real estate at less than fair market value or real estate transactions for
which donative intent cannot be readily demonstrated.
A.
All potential gifts of real estate are to shall be referred to the Sstatewide Cchief
Ddevelopment Oofficer for management coordination of the gift evaluation process.
B.
The Chief Development Officer will gather all pPreliminary information on the potential
gift and any intended restrictions will be obtained from the donor, and additional
necessary information will be gathered from other sources (e.g., legal description, copies
of existing appraisals, maps, tax notices, history of the property, photographs) and any
intended restrictions.
C.
The Chief Development Officer will inform the director of head development officer at
of the MAU which is to benefit from the gift. If the gift is unrestricted as to university,
the Vice President for University Relations will shall be informed of the potential gift.
05.14
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Gifts
D.
Copies of the preliminary information gathered in Step B above will be forwarded to the
statewide director of land management with a request for an estimate of the cost to
conduct a due diligence review of the property, including a title search, site inspection,
environmental review and other procedures considered appropriate by the reviewer.
D.
The Chief Development Officer will forward copies of all information received in step B,
above to the University Director of Land Management.
E.
Based upon the location and preliminary information about the property, The statewide
director of Lland Mmanagement will shall provide an estimate to the Chief Development
Officer of the costs involved to complete a title search, site inspection, environmental
audit, and review of the gift documents. of the scope of work to be done, the probable
cost, and a recommendation to proceed or not proceed with the evaluation of the gift
based on that individual’s preliminary estimate of the value of the property to the
university relative to the cost and administrative burden.
F.
Based upon the cost estimate provided by the Director of Land Management, the Chief
Development Officer and the Director of Land Management will determine whether the
benefits of the gift outweigh these evaluation costs. If the gift is restricted to benefit a
specific university or sub entity thereof, this determination will be made in consultation
with the Director of Development or University Relations of the beneficiary entity who
will be asked to identify and obligate, in writing, funds for the evaluation costs as well as
for the carrying costs of the gift if accepted.
Upon receipt of the above information, the statewide chief development officer in
consultation with the head development officer for the MAU to be benefited, if known,
will identify the funding source for payment of the evaluation costs, if receipt of the gift
is not consummated or the property cannot be liquidated within a reasonable period. The
source of the funds and the commitment to fund these costs, as well as the carrying costs
of the property, shall be in writing.
F.
G.
G.
H.
H.
05.14
If the determination in step F, above reveals that the benefits of the gift do not outweigh
the preliminary evaluation costs, the Chief Development Officer will recommend to the
Vice President for Administration (Vice President), or his or her designee, that the gift be
rejected. The process will then proceed to step J, below.
Based on the above information, the statewide chief development officer shall develop a
recommendation for the president, either to authorize proceeding with the evaluation of
the gift or to reject the proposal from further consideration.
If the determination in step F, above reveals that the benefits of the gift do outweigh these
preliminary evaluation costs, Land Management will perform the title search, site
inspection, environmental audit and analysis of the property. The director of Land
Management will submit a memo to the chief development officer recommending that the
gift either not be accepted or accepted.
Upon receipt of the president’s determination, the statewide chief development officer
shall coordinate with the respective MAU head development officer the appropriate
notification to the chancellor, donor and other interested parties of the decision to reject
the proposal or to proceed with the evaluation of the property.
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Gifts
I.
I.
J.
J.
K.
K.
L.
L.
M.
05.14
After reviewing the gift and the recommendation from Land Management, the Chief
Development Officer will submit a recommendation to the Vice President that the gift
either be rejected or accepted.
If proceeding with the evaluation of the property, the statewide chief development officer
shall request that the Office of Land Management proceed with the evaluation of the
property and prepare a report on the condition of the property, its marketability, potential
liabilities, and any commitments that may be associated with the property.
If the Vice President determines that the gift should be rejected, and if the gift is
restricted to benefit a specific University or sub entity thereof, the Vice President’s
decision shall be conveyed by the Chief Development Officer to the Director of
Development or University Relations of the beneficiary entity who shall, in turn convey
the Vice President’s decision to the donor. If the gift is not so restricted, the Chief
Development Officer shall inform the donor of the Vice President’s decision that the gift
be rejected.
Based upon the information reported by the Office of Land Management, the statewide
chief development officer shall prepare a final recommendation for the approval of the
president to accept, reject or modify the proposal.
If the Vice President determines that the gift should be accepted, the Vice President shall
obtain the final decision from the University President as to whether the gift should be
accepted or rejected.
If the proposal is rejected, the statewide chief development officer shall coordinate with
the respective MAU chief development officer the appropriate notification of the
chancellor, the donor and other interested parties that the proposal has been rejected.
If the gift is restricted to benefit a specific campus or sub entity thereof, the President’s
decision shall be conveyed by the Chief Development Officer to the Director of
Development or University Relations of the beneficiary entity who shall, in turn convey
the President’s decision to the donor. If the gift is not so restricted, the Chief
Development Officer shall inform the donor of the President’s decision that the gift be
accepted or rejected.
If the proposal is accepted or modified, the Land Management Office will be asked to
prepare the documents necessary to transfer the property to the university and engage
legal counsel if considered necessary. The statewide chief development officer will
coordinate with the respective MAU head development officer to provide the appropriate
notifications to the interested parties and the execution of the transfer documents. In
addition, Risk Management Office, the Controller’s Office, General Counsel, and the
Foundation Accounting Office shall be notified of the transfer. Upon execution of the
transfer documents the statewide chief development officer shall notify the president that
the transfer has been completed.
If the gift is to be accepted, the Director of Land Management shall provide a sample
deed to be conveyed to the donor by the Chief Development Officer, and shall review the
12
Gifts
executed deed before it is accepted and recorded to insure it is accurate and shall insure
that title insurance is in effect for the accepted property.
N.
The university's office of Risk Management is then informed to add the property to its list
of insured properties of the University.
O.
University accounting receives a copy of the deed so it may be placed upon the
University's books. A receipt is prepared for the donor by the Chief Development
Officer.
(07-19-06)
R05.14.110. Major Fundraising Efforts
A.
Proposals to conduct Mmajor fund-raising efforts with identified goals of $2,000,000 or
greater more must be approved by the president prior to the commencement of the
campaign counting period.
B.
A written campaign plan must be submitted to the statewide office of development for
preliminary approval.
Once preliminarily approved, tThe statewide Cchief
Ddevelopment Oofficer shall review the proposal and develop a recommendation for
approval, modification or rejection of the campaign plan will forward the campaign plan
for submission to the Ppresident for approval, in accordance with Regents Policy. If the
president concurs with the proposal and the campaign goal is greater than $5,000,000, the
Ppresident will forward the proposal to the Bboard of Regents for approval or
modification in consultation with the Board of Trustees.
The campaign plan will include the following:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
05.14
Feasibility study
Statement of campaign objectives
Draft case for support
Campaign goal
Gift range chart
Donor recognition plan
Solicitation methods
Campaign organizational structure that will include including paid staff and
volunteers
Campaign timetable which shall include including the counting period
Campaign budget
Campaign evaluation plan
(07-19-06)
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Gifts