Special Campus Memo: Gift Acceptance Policy - proposed changes
Dear Grinnellians,
Periodically, it is important to review and update College policies. In large part because the College has increased its focus on fundraising, it is particularly prudent at this time that we should review our gift acceptance policy.
We have been examining policies from several other organizations including Smith College, Lawrence University, and Reed College. As a result of this research, we have determined that some adjustments are needed in our own gift acceptance policy.
Proposed change: Introduction section, new second paragraph
Gifts may be accepted from both individual and organizational donors. Organizational donors include partnerships, corporations, foundations, government agencies, or other entities. Grinnell College reserves the right to deny any gift from any donor. The source of funds may be a factor when determining whether Grinnell College should accept or decline a gift. This may be easier to discern when the funds are gifted from an organization rather than an individual donor. The ultimate authority and discretion in accepting or denying gifts lies with the president and the Board of Trustees.
Proposed change: Guiding Principles section
While the procedures set forth herein are detailed and often specific to the type of gift contemplated, they shall be interpreted in light of two overriding principles:
Principle 1: Grinnell College accepts those gifts that have a reasonable expectation of benefiting the College and serving the College's mission.
Principle 2: Grinnell College shall not encourage any gifts that are inappropriate in light of the donor's disclosed personal or financial situation.
The board will consider these recommendations during the next month and act on them no sooner than at its next scheduled meeting in February 2018.
The College will continue to be guided by our mission and values in evaluating and accepting gifts from individual and organizational donors. While the ultimate authority and discretion in accepting or denying gifts lies with the president and the Board of Trustees, it is important to note that our policy includes a process for evaluating prospective gifts determined to be of material or moderate risk as described in the policy. This allows for consideration of community perspectives through Gift Acceptance Committee representation.
Through this process, and guided by an overall policy strengthened by sensible revisions, we will continue to ensure that gifts accepted by the College align with the first core principle of both benefitting the College and serving its mission.
Sincerely,
Raynard S. Kington
President