In addition, trustees, directors, officers, and staff members of a recognized foundation disqualify themselves from making, participating or influencing a decision in which they have or would have a financial interest. Personal Acceptance of Gifts. No substantial part of the activities of a recognized foundation should consist of disseminating propaganda, attempting to influence legislation, or participating or intervening in any political campaign on behalf of a candidate for public office. Disclosure to Donors. Conditions of Gift Acceptance.
Foundations hold and invest endowments and funds functioning as endowments on a long-term basis.
In general, foundation investment procedures should be conducted in accordance with prudent, sound practices to ensure that gift assets are protected and enhanced, that a reasonable return is achieved, and with due regard for the fiduciary responsibilities of the foundation's governing board. The investments must be consistent with the terms of the gift instrument. Income from investments, net of administrative fees, should be administered in accordance with pertinent foundation board policies, and, where appropriate, transferred to the University and expended from the designated University department or program accounts. Except as provided in this paragraph, the foundations shall expend their funds through University-designated program accounts. Foundations may maintain and use accounts for the payment of expenses incurred for foundation purposes and programs in accordance with procedures approved by the University.