Conditional gifts may commit the University to act within a specified time or use a gift for a specific purpose. If there are any conditions of acceptance, the receiving unit, the Business Office, the Development Office, and the donor must approve these conditions. Time limits for holding a conditional gift may be reviewed by the vice president for development, and the vice president for business services and assistant treasurer. Gift funds may be placed in a specified account in the receiving unit, with consent of the donor if conditions cannot be met. Gift acceptance agreements should specify a time period for meeting the conditions for the gift and should also indicate what will happen to the gift if conditions are not met.
Primary choices are to move the gift to a different account or to refund the gift.
In these situations, Purdue acts as agent for the gift funds. If a condition of a gift includes naming of a facility or other recognition, the Business Office, Development Office, and other appropriate parties must concur before the agreement offer is made to the donor. The Office Development Services will draft an acknowledgment of a conditional acceptance for appropriate signature. This will be sent to a donor within 10 days of approval of this form.