Board of Trustees
Approved: November 16, 2001
Section V. Administrative Affairs
Subsection: I. Contributions
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General
The Board is charged by statute to succeed to and administer
all gifts
belonging to the University not held by the WIU Foundation.
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Definition
For the purpose of this regulation, contributions are defined
to include:
cash, bequests, gifts of property including equipment and real
estate,
marketable securities, closely held stock, life insurance, and
deferred
gifts with life income options i.e., gift annuities,
charitable remainder
trusts, and remainder interest in a residence or farm.
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Authority to Accept
The President, Vice President for Advancement and Public
Services and
their designees and other Vice Presidents as appropriate and
in consultation
with the President are authorized to accept or reject (in
cases where
there is no academic value or historical significance),
contributions
to the University. Board approval shall be required prior to
acceptance
of gifts in the case of contributions which involve a
significant commitment
of resources for the operation, maintenance, or administration
of the
contribution.
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