If changes to the agreement are deemed necessary, the amendment process below should be initiated.
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 section 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or necessary due to the discovery of an original governing agreement, the Internal Endowment Agreement shall be superseded in its entirety.
If an Internal Endowment Agreement is updated, revised, amended, or repealed, the older version of the agreement will be archived in the fund's governing folder. The governing folder for each endowment fund shall contain a sheet that records the dates of all changes to the fund and its governing agreement.
Internal Endowment Agreement Template