4.145 President's Office
MIDWESTERN STATE UNIVERSITY FOUNDATION, INC.
Date Adopted/Most Recent Revision: 2/8/02

Chartered by the State of Texas as an independent, tax-exempt foundation on February 28, 1960, Midwestern State University Foundation, Inc. is responsible for receiving, holding, investing, and distributing proceeds of any gifts of cash, securities, or property made to the Foundation for the benefit of the university. Its resources may be used for no other purpose. Relations between the university and the Foundation shall be conducted according to the following:
  1. No member of the university Board of Regents, administration, faculty, or staff may serve as a voting member of the Foundation Board of Trustees.
  2. The Office of Donor Services and Special Projects may perform reasonable record keeping functions for the Foundation, provided such information is made available for use by the university in its own fund-raising efforts.
  3. The Office of Donor Services and Special Projects may receive, record, and forward gifts made to the Foundation, but may not deposit with the Foundation any gifts made payable to the university unless specifically instructed to do so in writing by the donors.
  4. No university employee may raise funds in the name of the Foundation. They may, however, inform prospective donors that the Foundation does accept gifts for the benefit of the university, especially in those cases where the donor is interested in a form of giving which the university cannot readily accept or administer, i.e., gift annuities, lead trusts, charitable remainder trusts, gifts of real estate, life insurance, etc. The Director of Donor Services and Special Projects also may provide reasonable assistance to donors in preparing such restricted fund agreements as might be required to meet donor objectives.
  5. The President of the university shall refuse to accept any gift from the Foundation which carries a restriction or condition in violation of university policy or state law.
  6. The President of the university and/or the Director of Donor Services and Special Projects may acknowledge gifts made to the Foundation, provided such acknowledgments are made in the name of the university.
  7. The Director of Donor Services and Special Projects shall be responsible for preparing and submitting to the President no later than July 1 of each fiscal year the university's request for annual support from the Foundation during the next fiscal year. The request shall be submitted to the Foundation Board of Trustees by the President.
  8. The Director of Donor Services and Special Projects shall be responsible for preparing and submitting to the Foundation a monthly written request for budgeted funds. The request shall be submitted to the Chairperson of the Foundation Board of Trustees not later than the 15th day of each month.
  9. The Director of Donor Services and Special Projects will distribute information concerning restricted gifts to the appropriate university department or program. The department or program will be responsible for ensuring that all restricted gifts received by the Foundation are used by the university in accordance with the instructions of the donors.