Fulfilling donor intent is central to our mission to provide support for research and education at the University of Iowa. To assure that gifts received by our organization are used as directed by donors, the University of Iowa Center for Advancement has developed and implemented numerous policies, practices, and procedures related to gift acceptance, disposition, and donor intent compliance. Implemented practices and policies relate, but are not limited, to:
Acceptance of gifts is at the full discretion of the UI Center for Advancement and shall be in compliance with all applicable laws and regulations, as well as be consistent with the mission and purpose of our organization. All gifts accepted and received by the UI Center of Advancement are administered in accordance with the written intent of the donor to the extent the intent is legal, consistent with our tax-exempt purposes, and capable of being performed. If at any time following the acceptance of a gift, there is a request to modify or release a restriction or designated gift purpose due to a variety of reasons (e.g., unlawful, impracticable, impossible to achieve or wasteful, no longer necessary due to changed circumstances, etc.), the UI Center for Advancement will only modify or release a restriction or designated gift purpose in the manner allowed by law.
In order for compliance with donor intent to be monitored at the highest level, the Board of Directors of the UI Center for Advancement have assigned to the board’s Audit Committee the responsibility of (i) oversight for the ongoing performance in fulfilling donors’ gift intent and asset restrictions, and (ii) regularly reporting its findings to the board.