2.8 Public Statements on Gifts to the University Public statements on gifts to the University shall be the responsibility of the Office of Public Affairs, which will coordinate with University Advancement the initiation and preparation of all public statements about gifts to the institution or any parts thereof. An endowment consists of funds that are kept intact and invested. Multiple restrictions on the use of gifts should be avoided. Experience has shown that restrictions drawn too finely in many cases prevent the money's use for deserving students or projects. It is the obligation of the University, and the responsibility of the campus unit administering the endowment, to report, at least annually, the use of endowment funds to the donor or the donor's family.
Some gifts are undesirable due to legal or ethical considerations.
2.10.2 reserve the right to pick the recipient of a gift or choose the recipient of endowment funds. No tax deduction is allowed for such gifts since the University is viewed by the Internal Revenue Service as the conduit for the gift rather than the recipient. 2.10.3 restrict the use for future employment of any designated person. 2.10.4 are encumbered by debt. University Advancement shall review any proposal regarding naming of parts of the campus, in consideration of financial contributions, prior to submission to the appropriate campus committee.