Section 3364-55-02 - Gifts in support of the university(A) Policy statement The board of trustees, for and on behalf of the university, may accept all gifts and shall administer such gifts according to the terms agreed upon with the donor. The university of Toledo foundation is recognized by the board of trustees as the official gift-receiving entity of the university. The foundation shall administer gifts in accordance with terms agreed upon with the donor in an applicable fund agreement.
(B) Purpose This policy provides for the request for, acceptance, and administration of gifts in support of the university.
(C) Procedures (1) There shall be no request for philanthropic gifts by any individual, division, college, school, department, organization or group for any purpose connected with the university without prior approval of the vice president for institutional advancement or designee.(2) Prior to acceptance and receipt, all gifts, including in-kind gifts, in support of the university, whether for the benefit of the entire university or any of its divisions, colleges, schools, departments, or other organizations or groups, shall be reported to the division of institutional advancement which bears responsibility for reporting such gifts to the president, the board of trustees, and the foundation for acceptance and acknowledgement.(3) No gift shall be accepted, without express authority and prior approval of the board, if the maintenance of the gift will add to the ordinary operating budget of the university.Ohio Admin. Code 3364-55-02
Effective: 4/20/2020
Promulgated Under: 111.15
Statutory Authority: 3364
Rule Amplifies: 3364