PART II. COMMUNITY POLICIES
DIVISION I HUMAN RIGHTS, AFFIRMATIVE ACTION, AND EQUAL EMPLOYMENT OPPORTUNITY
(Written to conform to Regents Procedural Guide 3/74; amended 9/93; 10/95; 9/97)
CHAPTER 24: MEMORIAL OR HONORARY GIFTS
(Amended 9/93; 9/13)
Note: Effective September 2013, this policy has been revised. For the most current version without redlining, return to II-24.
24.1 Through the University of Iowa Foundation
24.2 Through the University
24.1 THROUGH THE UNIVERSITY OF IOWA FOUNDATION.
The University of Iowa Foundation was organized in 1956 to help the University meet needs beyond those provided for by state support. The University of Iowa Foundation is the University's preferred channel for private contributions. Memorial or honorary gifts may be made to support any area of the University in honor or memory of deceased alumni, family, friends, faculty, or staff members.
Contact the University of Iowa Foundation for specific language which will ensure that gifts of a "deferred" nature are directed to the State University of Iowa Foundation.
a. The University of Iowa Foundation is organized to establish memorial funds in the University in honor of deceased alumni, friends, faculty, or staff members. The University of Iowa prefers that private gifts and bequests be directed to The University of Iowa Foundation (in legal documents the "State University of Iowa Foundation").* Contact the Foundation office for specific language which will ensure gifts of a "deferred" nature are directed to The State University of Iowa Foundation. When memorial gifts are made, the Foundation notifies the next of kin, and honors whatever purpose a fund may be established to serve. If the gift is sufficiently large, a permanent fund can be set up, with investment income from it used as the next of kin or major donors desire. Smaller gifts may be added to a general memorial fund maintained by the Foundation which is used for scholarships, or any departmental gift fund in the Foundation. All memorials created are given recognition in the Annual Report of the Foundation.
24.2 THROUGH THE UNIVERSITY.
* Gifts and bequests to support The University of Iowa College of Law also may be directed to the Iowa Law School Foundation, which predates The University of Iowa Foundation and which functions as another private nonprofit corporation. All gifts are processed through the Foundation, and all Law School Foundation contributors are recognized as contributors to The University of Iowa Foundation.
b. Similarly, honorary gifts may be made, and honorary funds may be established, at The University of Iowa Foundation, which notifies the person honored.
Memorial or honorary contributions can be made directly to the University if the donor prefers. In such cases, the person to initial contact is Treasury Operations. For large gifts, separate accounts are set up, with investment income expended in accordance with the wishes of the donors. For smaller gifts, the principal is expended as the donors direct. (See also V-1.2.)
(See also I-3.6 The University of Iowa Foundation; V-2.3a Transfers to The University of Iowa Foundation; V-3 Deposits and Expenditures of Funds in Allied Organizations; V-5.6 Gifts and Grants.)
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Page last updated September 2013 by Office of the Senior Vice President for Finance and Operations