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Section 6 Compliance
Subject 6.1 General Compliance
Policy 6.1.14 UTMB Gift Acceptance Policy
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07/14/06 -Originated
-Reviewed w/o changes
Compliance -Author
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UTMB Gift Acceptance Policy
Definitions
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Gift - For the purposes of this policy, “Gift” is defined as a commitment in the form of cash, pledge, securities, bequest/trust distributions, life insurance, real estate, in-kind and other transferable assets received by UTMB from an individual, corporation, foundation or other entity that is given with the charitable intent of supporting UTMB’s mission and programs, with no expectation of benefit other than UTMB expending the contribution for any mutually agreed upon purposes.
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Policy
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UTMB, as an institution of The University of Texas System, follows all rules and regulations as outlined by the Board of Regents and adheres to UT System Gift Acceptance Procedures. As such, the UTMB President is the delegated authority to accept gifts with a value of $1,000,000 or less, including cash and pledges (excluding gifts of real property, bequests/trust distributions and mineral rights) and the authority to take any and all desirable actions relating to the administration and management of said gifts. Gifts over $1,000,000 and certain other gifts as specified by UT System must be submitted to the Board of Regents for formal acceptance. Note: the UTMB President does not have designated authority to accept gifts of any amount that establish endowments, charitable remainder trusts, or pooled income funds, or the authority to accept gifts that increase in any way established endowments, charitable remainder trusts, or pooled income funds. In addition, the UTMB President also does not have delegated authority to accept gifts of outdoor works of art.
The UTMB President has authorized the Office of University Advancement (OUA) to serve as agent for all philanthropic fundraising programs and for all solicitation, acceptance and appropriate processing of all contributions. The Vice President for University Advancement (VPUA) is responsible for OUA, and therefore is responsible for UTMB maintaining the highest level of integrity and ethical standards on behalf of UTMB in the solicitation of contributions by UTMB and has been directed to implement administrative procedures designed to ensure gifts are used in
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Policy, continued
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accordance with the contributor’s intent.
Acceptance of a gift imposes a legal obligation to comply with the terms established by the contributor. Therefore, the nature and extent of this obligation must be clearly understood. To be accepted, all contributions must be directed to and for the use of UTMB and cannot provide benefit to the contributor. UTMB subscribes to the Donor Bill of Rights, a nationally recognized standard for fundraising and donor relations.
OUA may further define gift acceptance policy with respect to a particular fundraising campaign to include specific reporting standards and guidelines for particular types of complex gifts. (e.g. “Guidelines for Counting Gifts to Timeless Values, Pioneering Solutions, the Campaign for The University of Texas Medical Branch,” an internal OUA document.)
Members of the UTMB President’s Council shall serve as an ad hoc Gift Acceptance Committee should issues arise regarding the appropriateness of accepting any particular gift and shall be utilized at the discretion of the VPUA.
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Procedures
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It is the responsibility of OUA to accept record and acknowledge receipt of all gifts to UTMB. OUA shall maintain a complete and accurate record of every contributor and donation to UTMB and shall submit such information to the Board of Regents or UT System as required.
All gifts to UTMB are acknowledged by gift receipt mailed to the contributor in a timely manner. Gifts of a level determined by the VPUA shall also be acknowledged by the UTMB President.
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References
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UT System Gift Acceptance Policy
UT System Gift Acceptance Matrix
IRS Charitable Contributions
IRS Rules governing quid pro quo
Donor Bill of Rights
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