• Publicity: This section must identify the expected publicity concerning the program.
• Change in Circumstances: This section must identify what actions can be taken if the program's situation changes.
• Entire Agreement: This section must identify any terms that are being incorporated from previous documents and actions, and it must state that the instant agreement reflects all terms and conditions agreed upon by the parties.
• Amendment: This section must identify how the agreement may be amended in the future.
• Acceptance: This section must identify who may sign the agreement.

concerning the program.

Creation and Approval Process

• a.An endowed fund is identified as not having an executed agreement between the funder and the University.
• b.The Office of Institutional Advancement reviews all available historical information on file for the fund.
• c.Utilizing the internal endowment agreement template, the Office of Institutional Advancement drafts the agreement with any known restrictions from the historical documents.
• d.The Office of Institutional Advancement then submits the draft internal endowment agreement to the Office of General Counsel for review.
• e.Upon review and acceptance to form, the draft internal endowment agreement is submitted to the Vice President for Finance and Administration for acceptance.
• f.Upon acceptance, the Internal Endowment Agreement will be placed in the fund's governing folder and will remain in force until replaced.

Periodic Review of Internal Endowment Agreements

University Internal Endowment Agreements should be reviewed on a periodic basis (every three years, at a minimum) by The Office of Institutional Advancement and/or the Office of Finance and Administration. Agreements will be reviewed for the following:

• oContinued relevance to the University's mission and values;
• oConsistency with new Donor Agreements;
• oReflection of any changes in laws, regulations, accreditation standards, educational goals/practices, University practices, etc.;
• oErrors in fact or language;
• oLocation of any previously unknown governing documents; and
• oAny other potential problems.

If changes to the agreement are deemed necessary, the amendment process should be initiated.

ALL POLICIES ARE SUBJECT TO AMENDMENT

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