Acceptance of Gifts
Gifts of $1 million or more made to the University are formally accepted by the President or the President's administrative designee. The President will bring to the Board of Trustees for consideration, any gifts of $1 million or more made to the University that could injure the reputation or standing of the University, or generate such controversy as to substantially frustrate and defeat the educational purpose to be served. Gifts or grants of $100,000 or more to a University donation account will be promptly reported to the President for consideration of its purpose and use in collaboration with the applicable division administrator and the fund manager, if different.
Establishment of Endowed Fund
To create a named endowment fund, a donor must initially contribute a minimum of $5,000 and has 5 years to reach the minimum endowment level of $25,000. If the minimum level cannot be met within that timeframe, the funds will be combined into an endowment fund whose purpose is provide general scholarship support to Gallaudet students.
If at any time it becomes impractical or impossible to fulfill the articles and provisions of this agreement, the donor consents to allow Gallaudet to apply Fund monies for any purpose that, on the basis of a judgment made in good faith, most closely fulfills the Founding Donor's original intentions and furthers Gallaudet's educational mission. If necessary Gallaudet may also utilize other provisions of the Uniform Prudent Management of Investment Funds Act of 2008, to successfully use the Fund monies if Gallaudet is unable to fulfill the original donor purpose.