According to usU Policy 528: Contract Signature Authority and Delegation are gift contracts that bind the university to legal obligations. The following table shows the necessary signatures for the three types of foundations: the rating agency does not allow the issue of receipts for donations for services. In cases where donors wish to receive tax receipts, the exchange of cheques should be facilitated. The university makes available to the individual a cheque on the value of the service. This is taxable income that is deducted from federal and regional deductions. If the person then decides to give the money to the university, a tax receipt will be issued for the donation. 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 procedure includes identification and documentation: if an existing scholarship is difficult to grant, the development manager will work with the donor (if he survives) 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. In cases where the signatory to the agreement is no longer alive, the development manager contacts the senior director of advance services for instructions on the process. 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. The procedure includes identification and documentation: the ARF accompanies the gift agreement as part of the authorisation procedure to ensure that all parts of the university (for example, the development delegate. B, the dean/head of unit, the president of the foundation, the general counsel) agree. A foundation can be created with a minimum gift of $25,000, either directly or for a maximum of five years. A gift contract must be executed before a banner index can be created to retain the foundation funds. Funds received prior to the execution of a gift contract are paid into the university`s advance account. The Office of Advancement Services moves the funds held (via newspaper transfer) as soon as a banner index is available. A person presents himself as a representative of an external interest and his technical advice leads to the support of a donation to university donors who certify a gift for specific purposes must be informed of the right of the university to change in certain circumstances.
A change authorization must be included in all gift contracts. As a publicly funded university, the university must comply with federal law that governs the admissibility of the restrictions mentioned by donors in a donation agreement. These laws cover, but are not limited to, Title VI of the Civil Rights Act of 1964, Title I of the 1972 Education Amendments and the U.S. Equality Protection Clause.