Ohio Administrative Code › Title 3341 - Bowling Green State University › Chapter 3341-6 - Compliance with Occupational Safety and Health Standards › Section 3341-6-52 - Acceptable use of foundation funds

Current through all regulations
			 passed and filed through July 1, 2024
(A)
								Policy statement
			 and purpose
The Bowling Green state university
				foundation, inc., solicits and receives gifts in support of Bowling Green state
				university's academic, research, and service mission. This policy outlines the
				acceptable use of funds held by the Bowling Green state university foundation
				for use by Bowling Green state university units and divisions.
(B)
								
			 Policy
Funds held by the foundation are
				available to support the teaching, research and service missions of BGSU.
				Foundation funds may be used to further other educational and advancement
				interests and for specific stewardship purposes.
Spending policies of the Bowling Green
				state university foundation, inc. (the "foundation"), in so far as possible and
				appropriate, are congruent with the spending policies of Bowling Green state
				university (the "university").
These guidelines supersede any prior
				existing policies or other guidance regarding expenditures from
				funds.
(1)
									Acceptable fund uses
Any disbursement of funds held by the
				foundation must benefit the established purpose and needs of the relevant unit.
				In general, permissible disbursements include expenses for general support,
				operational needs, program expenses and other discretionary
				support.
All disbursements must be made in
				accordance with current university and Foundation policies and procedures and
				applicable IRS rules and regulations. All expenditures are subject to review by
				foundation and/or university management.
(a)
										The following
			 list provides examples of permissible uses of foundation funds:
(i)
											Alcoholic
			 beverages used for official university functions and
			 entertainment;
(ii)
											Fowers for:
(a)
												university events/official
			 entertainment;
(b)
												funerals or unique or special life events of donors or
			 a member of a donor's family; or for individuals external to the university who
			 have a philanthropic relationship or could have a philanthropic relationship to
			 BGSU.
(iii)
											Community goodwill or sponsorship of community
			 activities that E relate to the university in
			 some manner;
(iv)
											Stewardship activities or events;
(v)
											Travel and
			 entertainment expenses, as permissible per Bowling C
			 Green state university's travel and entertainment
			 policies, and designed to secure gifts or future gifts in support of
			 BGSU;
(vi)
											De minimis gifts for persons external to the university
			 who have or who could have a philanthropic relationship with BGSU; (de minimis
			 defined as infrequent or occasional and valued at one hundred dollars or
			 less);
(vii)
											Expenditures of a fundraising nature that are
			 reasonable and necessary to the fulfillment of the foundation's fundraising
			 goals;
(viii)
											Expenditures that focus on enhancing or developing
			 alumni relations and are reasonable and necessary to promote goodwill among
			 BGSU alumni;
(ix)
											Expenditures of a fundraising nature that are
			 reasonable and necessary to the fulfillment of the duties of the administrative
			 offices of the university.