A gift given without donor-imposed restrictions on its use, thereby allowing the Foundation and KSU to allocate the funds to areas of greatest need or strategic importance.

PROCESS:

Purpose of Gift Acceptance Policies

The KSU Board of Regents and the KSU President, who is KSU's chief fundraiser, along with Institutional Advancement staff and the Foundation Board, actively seek philanthropic support to advance KSU's mission. These policies and guidelines are established to:

• Govern the acceptance of gifts by the Foundation for the benefit of KSU.
• Provide guidance to prospective donors and their professional advisors.
• Ensure that gifts align with KSU's mission and strategic priorities and do not impose undue administrative burdens or financial liabilities.
• Uphold ethical standards and comply with all applicable laws and regulations.

Ethical Considerations and Professional Advice

• Use of Legal and Philanthropic Counsel by the Foundation and KSU. The Foundation and KSU shall seek the advice of their own legal counsel and other philanthropic advisors as needed, particularly for:
• oGifts of closely held securities, especially those with restrictions or buy-sell agreements.
• oGifts involving contracts, bargain sales, or other arrangements where the Foundation or KSU assumes an obligation or liability.
• oTransactions with potential conflicts of interest for any party involved that could invoke IRS sanctions.
• oGifts of real estate.
• oComplex deferred or split-interest gifts.
• oAny other gift situation where expert counsel is deemed appropriate by the Foundation Board or KSU leadership.
• Encouragement of Independent Advice for Donors. The Foundation and KSU urge all prospective donors to seek independent legal and financial counsel regarding their proposed gifts, including tax implications and estate planning consequences. Neither the Foundation nor KSU staff shall provide legal, tax, or financial advice to donors.

Authorization and Process for Gift Acceptance

General Authority: