19.2 Gifts and Donations
As required by Policy 701.01, the Board of Regents (BOR) must accept on behalf of any USG institution all gifts, bequests, agreements, or declarations of trust where the initial gift or trust estate is valued at $100,000 or more. Additionally, gifts of real property valued at $100,000 or more to any USG institution shall require Board approval. Upon announcement of such a gift the institution should request that the gift be accepted by notifying the Vice Chancellor for Fiscal Affairs with the following information:
- Donor name
- Fair market value
- Description of gift, including a listing of applicable equipment
- Anticipated cost implications for the institution by accepting this gift, such as construction, maintenance or software support costs
Institutions are also required to submit an annual report of all private gifts to the institution valued over $100,000 by October 31 of each year.
Note: Gifts given directly to an affiliated organization are not required to be listed on this report.