Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

REGENTS’ POLICY MANUALSECTION 7 – UNIVERSITY DEVELOPMENT7.2—GIFTS TO THE UNIVERSITYThe University actively encourages and appreciates gifts to the University that benefit students andthe mission of the University. The purpose and conditions for gifts are expected to conform to the Boardof Regents’ policy, Oklahoma State Regents for Higher Education policy and all applicable laws.The President will announce major gifts (over $250,000) at meetings of the Board of Regents. Specialaction by the Board of Regents is required when gifts involve the naming of University buildings andmajor facilities and the naming of University colleges, schools, and major programs.The University of Oklahoma Foundation, Inc. is an independent organization with its own governingboard and its own policies on accepting gifts. In certain situations that require action by the University –for example, establishing and filling a chair – the Foundation asks the University to join with it inaccepting a gift, and the acceptance of such gifts is covered by this policy.The Board of Regents looks favorably on gifts to the University unless there are clear and compellingreasons to decline. Possible reasons to decline a gift include (a) the funds were obtained fromquestionable sources or (b) the purpose for or conditions on the gift are illegal or not in accord with themission and goals of the University or the policies of the Board of Regents. The Board of Regentsreserves the right to decline gifts, if in its sole judgment, not accepting the gift is in the best interest of theUniversity.(RM, 6-16-93, p. 23390; 12-02-03, p. 28868)THE UNIVERSITY OF OKLAHOMA 308