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University Foundations: Acceptance and Management of Gifts and Donations

Business/Finance and Facilities


PDF Version: BOT Foundation Gifts and Donations Policy


Contents

  1. Introduction
  2. Roles and Responsibilities
  3. Policy Statement
  4. Policy History

I. Introduction

  1. Authority: C.R.S. § 23-54-102, et seq. (2019) authorizes the Trustees of Metropolitan State University of Denver (MSU Denver) to establish rules and regulations to govern and operate the University and its programs. The Trustees retain authority to approve, interpret, and administer policies pertaining to University governance. The Trustees authorize the President of MSU Denver to approve, administer, and interpret policies pertaining to University operations.

  2. Purpose: This policy offers guidance on the use of funds or gifts donated to the University.

  3. Scope: Employees and Donors

II. Roles and Responsibilities

  1. Responsible Executive: Chief Advancement Officer

  2. Responsible Administrator: Associate Vice President of Advancement/Campaign Director

  3. Responsible Office: Development Office

  4. Policy Contact: Development Office, 303-615-0065

III. Policy Statement

It is Board policy that the University shall establish and operate a nonprofit, independent corporate foundation for the purpose of accepting, controlling, and managing funds and other gifts received as donations to the University. Articles of incorporation are to be reviewed by the Board of Trustees.

Gifts to the foundation and expenditure of foundation funds must be consistent with the role and mission of the University and must contribute to institutional goals and objectives.

Any gift or activity funded through the foundation that requires or is likely to require, the use of state-appropriated program funds must have prior approval of the Board. In addition, consistent with C.R.S. § 23-1-106, as amended, all acquisition of real property by state supported colleges of higher education that is conditional upon or requires expenditure of state-controlled or federal funds for its utilization, whether acquisition is by purchase, gift, or otherwise, shall also be subject to approval by the Colorado Commission on Higher Education. The University foundation shall submit, by October 1 of each year, an audit report and a written annual report to the Board which shall include:

1. A statement of sources and uses of funds for the prior fiscal year; and
2. A report of projects funded by the foundation in the prior fiscal year.


IV. Policy History

  1. Approved by: Board of Trustees

  2. Effective: April 1, 2019

  3. Revised: This policy supersedes section 4.8 of the MSCD Trustees Manual, 2007.

  4. Review: This policy will be reviewed every five years or as deemed necessary by University leadership.

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