and the National Association of College and University Business Officers (NACUBO).
While the KSU Thorobreds Foundation, Inc. is the designated entity for receiving, processing, and managing all philanthropic gifts for the benefit of KSU, certain funds may be received directly by Kentucky State University under specific circumstances. These exceptions require careful review and documentation:
Non-Charitable Revenue and Contractual Payments. Funds that are not charitable contributions in nature, such as sponsored research grants, government appropriations, fee-for-service payments, tuition, auxiliary revenue, or other contractual revenue streams, shall be received directly by KSU through its established financial procedures, or deferred in writing to the Foundation.
Donor-Requested Direct Charitable Gifts to KSU (Exceptional Circumstances). In rare and extraordinary circumstances where a donor explicitly requests that a charitable gift be made directly to Kentucky State University rather than to the KSU Thorobreds Foundation, Inc., such requests will be reviewed on a case-by-case basis. This review will be conducted by the KSU President (or designee) and the CEO of the Foundation, in consultation with KSU legal counsel and Foundation legal counsel. The review will assess implications for gift administration, stewardship, and alignment with KSU and Foundation policies. Acceptance of a charitable gift directly by KSU under this exception requires approval from KSU's President and formal notification to the KSU Board of Regents.
Presidential Exception for Other Funds. Other funds, whether potentially charitable or non-charitable, may be received directly by Kentucky State University if KSU's President determines, after consultation with the CEO of the Foundation and KSU legal counsel, that direct receipt by KSU is mandated by law/regulation or is essential for compelling institutional interests and that processing through the Foundation is not feasible or appropriate. The President shall document the detailed rationale for any such exception in a memorandum, which will be maintained by the President's Office and provided to the Board of Regents in a timely manner upon request.
This Gift Acceptance Policy, particularly its reliance on the KSU Thorobreds Foundation, Inc. as the primary recipient of philanthropic gifts, shall only remain in effect so long as there is an active Memorandum of Understanding (MOU), approved by the KSU Board of Regents and the KSU Thorobreds Foundation, Inc. Board of Trustees, governing the relationship and operational procedures between the two entities. Upon termination or expiration of such MOU without immediate replacement by a new, duly executed MOU, this policy shall be subject to immediate review and potential suspension or revision by the KSU Board of Regents.
A situation in which a person involved in the gift acceptance process has a personal interest that could potentially improperly influence their professional judgment or actions.