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5. University Development

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5.2. Receiving and Acceptance of Gifts

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Effective Date: 4-11-66

Revision Date: 8-16-78

All gifts to Eastern Michigan University are received through the Office of Development or Office of Research Development, and are accepted subject to approval by the Board of Regents.

In those instances when a donor does not require the principal of a gift or bequest to be held in perpetuity, the University may elect to preserve the principal by classifying it as a fund functioning as an endowment. -When the gift report is prepared by the administration for the Board of Regents, it shall indicate on the report those gifts that are not required by the donor to be held in perpetuity, so the Board can consider changing the administration's recommendation at the time they formally receive the gift. 

Donors shall receive acknowledgement of all gifts, along with validated receipts.

Authority for Creation and Revision

Minutes of the Board of Regents, April 11, 1966; para. .374M. 
Minutes of the Board of Regents, September 22, 1976; para. .1692M. 
Minutes of the Board of Regents, August 16, 1978; para. .1962M.