University of Virginia Library

1. Gifts of Tangible Personal Property

An offer of a gift to the University of tangible personal property may be accepted initially and conditionally on behalf of the President and the Rector and Visitors by deans, directors of libraries and museums, and other authorized officers. The receipt and acceptance of such tangible gifts with estimated value of $500 or more shall be reported to the Vice President for Development for confirmation and formal acceptance by the Rector and Visitors.

Gifts to the University of tangible personal property such as paintings and other works of art, or furniture, or collections should not be accepted if made on the condition or expectation that the items will be permanently exhibited, or that the collections will be maintained and shown as such. Any gift offered with such a restriction or condition shall be reported to the Vice President for Development and may be accepted only by vote of the Board of Visitors.

• The following are unacceptable restrictions or considerations in connection with gifts-in-kind:
• (a) The acceptance of such gifts shall not involve significant additional expense for their present or future use, display, maintenance or administration.
• (b) No financial or other burdensome obligation or expense is or will be directly or indirectly incurred by the University as a result thereof.
• (c) University officers or faculty members should not furnish valuations or appraisals to donors in connection with gifts-in-kind to the University of Virginia.
• (d) Gifts of tangible personal property (such as books and paintings) will not be accepted if made on the condition, or understanding, or expectation that the items will be loaned back to the donor or persons designated by the donor for life or extended periods of time to be determined by the donor.