Gift - Policy Term Definition

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.