7.4 Private Donations to the USG and Its Institutions
The Board of Regents of the University System of Georgia, recognizing that public institutions are dependent, in part, on private funding (just as private institutions are partially dependent on public funding) encourages the institutions under its control to seek the support of alumni, friends, corporations, and other private individuals and organizations that might be interested in contributing to the welfare of the institutions, their students, and their faculties.
Funds raised from private donations may be used in support of the mission and objectives of the institution, including funds for student scholarships, salary supplements, construction of physical facilities, and gifts and grants for other purposes as may be designated by the donor. However, institutions are not authorized to commit any state funds for challenge or matching grants or gifts for the construction of facilities or for other purposes without prior approval of the Chancellor.
The Board of Regents shall not consider gifts, contributions, or income from endowments held for the benefit of any USG institution in determining the allocation of state funds to that institution.
Private donations to separately incorporated cooperative organizations established pursuant to Section 12.5 of this Policy Manual shall not subject to control by the Board of Regents or the college or university administration except as provided in Section 12.5 or by the memoranda of agreement established between institutions and their cooperative organizations.
A USG institution may accept gifts, bequests, agreements, or declarations of trust, except gifts of real property. By accepting such gifts, donations, bequests, or declarations of trust, the president of the institution affirms that the gift or donation carries no obligations to the institution that may conflict with state law or Board of Regents policy. The president also affirms that acceptance of the gift or donation will not impose a financial burden on the institution beyond that which can be managed within its current budget. If acceptance of the gift or donation would require the institution to incur additional cost that cannot be borne within current resources, the institution shall be required to obtain the approval of the Board of Regents before the gift or donation is formally accepted.
Each institution shall provide a summary report as required to the Chancellor on all gifts received by the institution and its cooperative organizations through private donations under procedures established by the USG chief fiscal officer.
Each president is authorized to execute those documents necessary to provide proper fiscal management of those funds accepted under this authorization and, at their discretion, to further delegate the authority to execute such documents to the chief business officers of the institutions. Gifts of real property are addressed in Section 9.9, Real Property Ownership and Asset Management, of this Policy Manual (BoR Minutes, 1980-81, p. 241; January 1997, p. 24).