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I. Gift Policy Committee

A. Responsibility

Approved crediting policies will cover the majority of anticipated commitments. However, in the event that situations or opportunities occur during the course of the campaign for which these guidelines are inadequate, there will be a Gift Policy Committee empowered to resolve any questions regarding acceptance, valuation, and crediting.

The Gift Policy Committee will approve or disapprove all gifts-inkind to the University that are not immediately convertible to cash and all gifts-in-kind that have donor-imposed restrictions as to their disposition. As necessary, recommendations of the Gift Policy Committee will be forwarded to the Board of Visitors for final approval.

B. Membership

The Gift Policy Committee will consist of the following:

1. Executive Vice President and Chief Financial Officer

2. Vice President and Provost

3. Vice President for Development

4. Associate Vice President for Development

5. Treasurer

6. Assistant Vice President for Development

7. Vice President and Provost for Health Sciences

8. Director of Gift Accounting

C. Meeting Schedule

I. Meetings of the Gift Policy Committee will be called as necessary by the Associate Vice President for Development, who will serve as chair of the committee.

II. Gift Limitations

Gifts with limitations based on race, color, religion, creed, sex, sexual preference, or national origin cannot be accepted by the University of Virginia, except in instances where, after review by the Gift Policy Committee and the General Counsel, such gifts are determined to be non-discriminatory and legally permissible.

The following gift stipulations also cannot be accepted by the University for scholarships, fellowships, or other financial aid funds:

A. Those in which a donor designates a specific recipient;

B. Those designating as recipient the donor's relatives or descendants;

C. Those based on the future employment of the recipient.

III. Gift Recording

The Gift Accounting Department of the University Development Office shall oversee the receipt, recording, depositing, and acknowledgment of all private contributions to the University. Gift Accounting, in turn, will assure that appropriate departments, schools, units are notified in a timely fashion regarding contributions restricted for their use.