Substantive agreement revisions may arise through necessity, or as a result of the regular three-year review. Substantive revisions must follow the standard procedures as set forth in the Creation and Approval portion of this policy. Non-substantive revisions to an internal agreement do not require any review beyond the Office of Institutional Advancement. Non-substantive changes may take many forms, including but not limited to, grammar or spelling corrections, technical revisions, updated names of pertinent offices or departments, and reorganized agreement sections.

If an Internal Endowment Agreement is identified as no longer relevant or necessary due to the locating of an original governing agreement or an executed agreement with the original funder or their designee, the Internal Endowment Agreement shall be superseded in its entirety immediately upon the filing of the existing agreement in the fund's governing folder.

If an Internal Endowment Agreement is updated, revised, amended, or repealed, the older version of the agreement will be archived in the fund’s governing folder.

Administrative Procedures: Operational guidelines that apply institution-wide and require approval only from University Counsel and the President.

Interim Policy: This is a provisional Policy issued when a University Policy is needed before the standard process can be completed. An Interim Policy must carry an expiration date and may be allowed to expire without additional action, extended one more time for a specified period upon special permission from the President, or replaced by a standard University Policy.

Non-substantive Internal Endowment Agreement Revisions: A revision that, as implemented, would be limited in scope insignificant in the operations of a fund or program. Examples would be grammatical clarifications, changes to employee titles or contact information, corrections of misspellings, or website/link corrections.

Internal Agreement Template: Document that sets the standard for how all policies will be written and organized.

Substantive Internal Endowment Agreement Revision: A revision that, as implemented, would result in a significant material change to an endowed fund or program.

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