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  • 1.  GIK Agreement w/Donor to Pay Expenses

    Posted 10-26-2022 09:20 AM
    I have seen a few gift acceptance policies that mention the need for donors to cover expenses for the maintenance of their donation.  I'll cut and paste language from one of those below.

    However, I am interested in seeing an example of a gift agreement that spells out such a requirement to the donor before the GIK is accepted.  Does anyone out here in FundSvcs land have such a thing?

    Here's the language I mentioned as it applies to outdoor art.  Again, this is from a gift acceptance policy, not an actual gift agreement:

    "Other than in extraordinary circumstances, no gift of an outdoor object will be deemed acceptable if it requires the expenditure of significant sums of money by the University, either for its installation and/or its continuing maintenance, unless the proposed gift is accompanied by a separate cash gift or an endowment of sufficient size to meet these expenditures."

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987


  • 2.  RE: GIK Agreement w/Donor to Pay Expenses

    Posted 10-26-2022 10:20 AM

    I've not seen here.

     

     

    Aaron Forrest CPA

    Senior Director Gift and Donor Services

    University of Rochester Office of Advancement

    585.275.2799 | aaron.forrest@rochester.edu

     




    Original Message


  • 3.  RE: GIK Agreement w/Donor to Pay Expenses

    Posted 10-26-2022 10:45 AM
    John,

    I'm not sure if this entirely fits what you're seeking, but our deed of gift template for GIKs includes the following provision on financial support (adapted from the University of Hawaii's template originally provided to me by Eric Valdescaro two years ago):

    "Should it be agreed upon between KSU and the Donor that the Property donated to KSU by the terms of this Deed of Gift require additional funding for its care and maintenance, the Donor acknowledges and accepts that such an agreement shall be established and executed separately between the Donor and KSU. KSU and the KSU Foundation both respectively reserve the right to refuse acceptance of the Property should either deem that an encumbrance to care for and maintain such Property without a concomitant agreement for additional funding is fiscally imprudent."

    Matt Bain

    Executive Director, Advancement Services

    Division of University Advancement

    Kennesaw State University

    470-578-7719




    Original Message


  • 4.  RE: GIK Agreement w/Donor to Pay Expenses

    Posted 10-26-2022 10:55 AM
    This is really helpful, Matt.  Thank you!

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987





    Original Message


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