Policy 3103 – Gift Acceptance

Revision Date:  3/9/2021

Last Review:  3/9/2021

Original Effective Date:  8/26/2000

Responsible Office:  Division of University Advancement

Policy:

All gifts made to the Louisiana Tech University Foundation are officially accepted
by the Board of Directors of the Foundation upon recommendation of the Executive Committee of the Board of Directors.

Gifts of securities, real estate, mineral interests, business property, gifts-in-kind,
and deferred gifts are subject to special acceptance procedures by the Executive Committee of the Board of Directors.  Additional information about the valuation of certain types of gifts and required documentation, e.g., appraisals, is available from Foundation staff.

All proposed gifts are reviewed by the Foundation and may be refused if the proposed
gift violates Internal Revenue Service regulations, other state and federal laws and
regulations, are discriminatory, would subject the Foundation to unacceptable liability
exposure or undue administrative costs and burdens, or are inconsistent with the missions of the University and the Foundation.

Definitions:

Not applicable

Procedures:

Not applicable