Access to Gift Accounts by Faculty
Date: 11/07/2024
Policy ID: 1.510
Status: Final
Contact Office:
Controller
Dean’s Office, School of Medicine
PO Box 800793
Charlottesville, VA 22908
phone: 434-297-7492
Oversight Executive:
Chief Operating Officer
PO Box 800793
Charlottesville, VA 22908
Phone: 434-297-7492
Fax: 434-982-0874
Applies to:
Current and former School of Medicine faculty members.
Reason for Policy:
In their roles as educators, researchers, and physicians, faculty members may receive philanthropic gifts to support a faculty member’s research efforts or scholarly activities. This policy clarifies the relationship between donors, faculty members, and the University as it relates to philanthropic gift accounts managed by the School of Medicine.
Policy Statement:
Consistent with IRS policy and University Policy EXT-008: Acceptance, Receipt, and Acknowledgement of Gifts defines the criteria for accepting gifts to support the University’s mission of teaching, research, public service, and healthcare, noting that gifts may be designated for:
- the general purposes of the University as a whole; or
- the specific use of:
- one or more schools; or
- an individual department or unit; or
- a center of the University; or
- a particular facility, program, area of study or organization.
The application of this guidance within the School of Medicine is that faculty members may have a gift account that is specifically designated to support his or her area of expertise or research area. Should a faculty member leave the School of Medicine, provide notice of retirement or separation, or no longer have a paid appointment, the ability for that faculty member to direct the use of any donor funds will cease. This would include Emeritus Faculty, who are no longer eligible to use or direct the use of departmental and donor funds. At all times, the chair and the department administrator are responsible for ensuring gift balances are utilized consistent with the documented donor intent, working with the Office of Advancement as needed and consistent with School of Medicine Policy 1.511: Use of Discretionary Account Balances.
Revision History:
Implemented 2/27/04; administrative updates 2/25/15; revised 2/6/20; revised 11/07/2024
Approved:
Melina Kibbe, MD
Dean