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Table of Contents
Statement of Policy
Reason for Policy
Who Should Know This Policy
Related Documents
Contacts
Definitions
Guidelines
Special Situations
Statement of Policy
The president of Purdue University shall approve the establishment
and activation of named funds upon the receipt of gifts as
described below:
- The president of Purdue University will set minimum gift
levels and establish guidelines for gift naming opportunities.
The president will receive requests and will work with the
Capital Projects Council to determine gift levels. The Board
of Trustees is vested with final approval and will need
the name of the donor or names of the person or persons
being honored.
- The gift levels listed below are minimum amounts needed
to name the respective opportunities. In most cases, gifts
may be made outright over a multi-year pledge period, through
a trust, or through a similar irrevocable instrument. It
is the responsibility of the dean in consultation with the
provost and the president to make appointments for all endowed
positions.
- Endowments may be established at the $25,000 level. These
guidelines suggest minimums where possible.
Reason for Policy
To set minimum gift levels and establish guidelines for gift
naming opportunities.
Who Should Know This Policy
- President
- Provost
- Chancellors
- Vice Chancellors
- Vice Presidents
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- Deans
- Directors/Department Heads
- University Development Staff
- Business Office Staff
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Related Documents
Contacts
Associate Vice President for Development
(765) 494-6902
Definitions
| Pledge |
A pledge is a commitment
to give a specific dollar amount according to a fixed
time schedule. |
| Endowment |
A gift of at least $25,000 to be invested
for the purpose of producing present and future income. The income may be expended or reinvested with the original gift.
Distributions of income from the endowment will be made based on the spending rate approved by the governing board through the endowment investment policy. Income is expended according to the donor’s stipulation and may be unrestricted or restricted. |
| Minimums |
A gift of at least $25,000 unless otherwise stated is required to start an endowment fund. |
Guidelines
Potential Endowments and names are reviewed by the University Gift Acceptance Committee and/or the Planned Giving Office for approval before being signed by a donor.
Endowments may be established with gifts over a period of up to five years with income reinvested until the endowment minimum is reached.
Note:
Term Naming: Annual Gifts over five years equal to annual endowment earnings may be considered for naming during that term.
Facility naming: Guidelines appear under the policy “Naming of New and Renovated University Facilities (IX.4.2)."
- NAMED SCHOOL: A gift commitment for the general school
endowment will vary with each school.
- NAMED DEANSHIP, DEPARTMENT HEAD: A gift commitment to endow the position
will vary with each school, with a suggested minimum gift of $2 million to endow the position.
- NAMED CHAIR: A gift minimum of $1.5 million is required.
- NAMED PROFESSORSHIP: A gift minimum of $1 million is required.
- NAMED EARLY CAREER FACULTY FUND: A minimum endowment of $500,000
is required.
- NAMED UNDERGRADUATE SCHOLARSHIP: A gift minimum of $25,000 is required.
- NAMED GRADUATE FELLOWSHIP:
Partial Support: A graduate fund that provides annual support for graduate students pursuing a course of study or research. Funds are to be used for stipend, tuition, fees, books, supplies, professional development, travel, and equipment. The funds will be administered in accordance with department, college, and University policies. A minimum endowment of $25,000 is required, with a suggested endowment of $100,000.
Full Support:
This fellowship is not to be used as payment for teaching, research, or service. A minimum endowment of $1 million.
- OTHER: Other school-based
projects, such as directors, lectures, student enhancement, research, and facility funds, may be considered, and the amount will vary with each school.
Special
Situations
All gifts must comply with these guidelines. Requests for special circumstances or exceptions should be given to the Gift Acceptance Committee, comprised of the president, provost, senior vice president for advancement, executive vice president and treasurer, and vice president for governmental relations.
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