GENERAL INFORMATION
The Mission of the UNT Foundation
Structure of the Foundation
Staffing the Foundation
Board of Directors Volunteer Position Description
Conflict-Of-Interest Policy
Directors and Officers Liability
Communicating with the Board
Nondiscrimination/Equal Opportunity/Affirmative Action/Sexual Harassment Policy Statement
Whistleblower Policy
Public Information
ACCOUNT MANAGEMENT
Definitions throughout this Manual
Establishing a New Account
Types of Accounts
Account Holders
Deposits (Contributions) to Accounts
Procedure for Acknowledging and Receipting Gifts
INVESTMENT MANAGEMENT
Endowment Account - Investment Vehicles
Operating Account - Investment Vehicles
Bank, Cash and Funds Management Accounts
Investment Policy
Appendix A
Appendix B
Appendix C
OBTAINING FUNDS FROM ACCOUNT
Withdrawals of Amounts from Endowment Accounts
Distribution Policy
Fees Charged to Endowed Accounts
SPECIAL INFORMATION
Funding Requests from Foundation Unrestricted Assets
Executor Functions
Trustee Functions
GIFT PLANNING AND ACCEPTANCE POLICIES
Overview
Liquidation of Gifts
Appraisal
Tangible Personal Property
Life Insurance
Guidelines for Gifts of Life Insurance
Gifts of Cash
Securities
Individual Wills
Charitable Gift Annuities
Charitable Remainder Trusts
Management
Real Estate Policies
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SPECIAL INFORMATION
Funding Requests from Foundation Unrestricted Assets
The Foundation may, at the sole volition of the Board of Directors, allocate a portion of its unrestricted funds to one or more special project accounts on a schedule that the Board selects. These special accounts may be used to further various projects, or cover all or part of the expenses of a project, beneficial to the University as determined by the Board of Regents and/or the President of the University of North Texas.
All requests for funding from Foundation unrestricted funds shall come from the President of the University of North Texas. The Foundation will not consider requests for funding from other individuals or entities.
The Foundation will move accumulated or unexpended funds from completed University projects in such special project account(s) back to appropriate Foundation unrestricted account(s) as it deems necessary. Decisions regarding this return of accumulated or unexpended funds shall be solely the prerogative of the Board of Directors of the Foundation.
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Executor Functions
The Foundation may, at its own volition, serve as Executor or Personal Representative of Estates where the Foundation is identified as a major beneficiary. The Executive Committee of the Board of Directors will determine if accepting proposed Executor responsibilities is appropriate or not. If the Foundation accepts Executor responsibilities for an Estate, then the following shall always apply.
The Trust Management and Review Committee shall give oversight to the completion of all Executor fiduciary responsibilities. Usually, the Executive Director is the Board’s designee to implement the directives of the Will or other legal guidance document for an Estate.
At the sole discretion of the Board of Directors, all direct and indirect expenses associated with the Executor’s responsibilities will be borne by the Estate, and shall be reimbursed from the Estate being managed, or from the proceeds of the liquidated Estate.
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Trustee Functions
The Foundation may, at its own volition, serve as Trustee of Charitable Remainder Trusts where the Foundation is identified as a major beneficiary. With the recommendation of the Trust Management and Review Committee, the Board of Directors will determine if accepting proposed Trustee responsibilities is appropriate or not.
If the Foundation accepts Trustee responsibilities for a Trust, then the following shall always apply:
- Unless noted otherwise, the laws of the State of Texas shall apply.
- The Trustee will follow all guidelines for Charitable Trust administration established by the United States Internal Revenue Code.
- The Trustee will be custodian of all original records pertaining to the Trust.
- The Trustee retains the authority to delegate any or all of the management operations to approved Co-Trustees, Successor Trustees, or approved managers and agents.
- The Trustee reserves the right to charge reasonable costs to the Trust for its administrative costs.
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