General Policies

 

Gift Acceptance and Allocation Committee

The Gift Acceptance and Allocation Committee, upon referral by the H.E. Rector may set priorities for spending form unrestricted funds. Review any gift that warrants consideration, review recommendations to recognize a donor with a naming opportunity. The committee is chaired by H.E. the Rector and comprise of the Vice Rectors, and three other members assigned by H.E the Rector.

Rights of Donors

The role of the Endowment Office is to serve as an advocate for the donor, and in doing so, adheres to the Donor Bill of Rights.

Confidentiality

Biographical and financial records related to donors will be treated as confidential information and will not be released without approval of H.E the Rector. Selected information for purposes of referral, testimonial or example will be used with the permission of the donor. KFUPM will not sell address lists to outside vendors.

Authorization for Negotiation

The Rector and only those others specifically authorized to do so shall negotiate planned giving agreements with prospective donors following these guidelines. The Rector or his designee shall have the authority to sign legally-binding gift agreements on behalf of KFUPM.

Assignment of Fiduciary Responsibilities

It shall be the responsibility of the Endowment Office to procure and acquire gifts for KFUPM. It shall be the responsibility of the Endowment Fund Board to administer any assets accepted in keeping with the guidelines for investment. When necessary, it shall be the responsibility of the Endowment Office to procure, acquire and report to donors such information that is required by the donor or granting agency.

Drafting Documents

When documents are prepared by the donor's legal counsel that require KFUPM signature, The University's legal counsel shall review the documents prior to execution.

Investment of Funds

Investments of endowed gifts shall comply with the guidelines established and approved by the Endowment Fund Board.

Special Cases

Any deviations from the listed guidelines shall require approval of the Gift Acceptance and Allocation Committee.