Board of Trustees at Western Illinois University

BOT Resources

Approved: November 16, 2001
Section V. Administrative Affairs
Subsection: I. Contributions

General
The Board is charged by statute to succeed to and administer all gifts belonging to the University not held by the WIU Foundation.
Definition
For the purpose of this regulation, contributions are defined to include: cash, bequests, gifts of property including equipment and real estate, marketable securities, closely held stock, life insurance, and deferred gifts with life income options i.e., gift annuities, charitable remainder trusts, and remainder interest in a residence or farm.
Authority to Accept
The President, Vice President for Advancement and Public Services and their designees and other Vice Presidents as appropriate and in consultation with the President are authorized to accept or reject (in cases where there is no academic value or historical significance), contributions to the University. Board approval shall be required prior to acceptance of gifts in the case of contributions which involve a significant commitment of resources for the operation, maintenance, or administration of the contribution.