Donor Intent

Fulfilling donor intent is central to the UI Foundation’s mission to provide support for research and education at the University of Iowa. It is paramount that the policies, practices, and procedures of the foundation are appropriate to assure that gifts to the foundation will be used as donors have directed. The UI Foundation board of directors adopted these policies as an expression of the foundation’s past and ongoing commitment to fulfilling donors’ gift intent.

Donor intent may be manifested in two distinct ways. First are donor directions for how a gift is to be used by the foundation to benefit the University of Iowa. Second are donor directions or restrictions on the investment or transferability of gifted assets. Policies and procedures of the foundation must be responsive to both donor expressions of gift intent and donor expressions of asset restrictions.

Donor Gift Intent

The foundation will fulfill a donor’s specified gift intent to the extent it is legal, consistent with the foundation’s tax exempt purposes, and capable of being performed. To this end the foundation shall have practices and procedures for:

  • Assisting donors in clearly articulating gift intent in advance of or in connection with making a gift.
  • Ascertaining donor gift intent upon receipt of a gift.
  • Implementing donor gift intent in the administration of a gift.
  • Monitoring the administration of gifts to verify donor gift intent has been implemented and, for endowed gifts, continues to be implemented.

Donor Asset Restrictions

The foundation will generally encourage donors not to impose investment and transferability restrictions on assets gifted to the foundation. However, in those instances when donor asset restrictions have been imposed, the foundation will comply with the restrictions for any gift accepted by the foundation. The Executive Committee, considering all relevant facts and circumstances in each case and the recommendation of the foundation’s president, shall review and approve any decision that (i) declines acceptance of a gift on account of donor-imposed asset restrictions or (ii) accepts a gift with donor-imposed asset restrictions that are in material noncompliance with an existing policy or practice of the foundation. In instances where the Executive Committee is undecided or otherwise desires, the full board of directors shall review and approve such matters.

Compliance with Donor Intent

In order for compliance with donor intent to be monitored at the highest level of the UI Foundation’s organization, the board of directors, by adopting this policy, assigns to the board’s Audit Committee the responsibility of (i) oversight for the foundation’s ongoing performance in fulfilling donors’ gift intent and asset restrictions, and (ii) regularly reporting its findings to the board.

Adopted by the UI Foundation board of directors, October 19, 2001