Definition of Gifts
Gift may be in cash or in kind given voluntarily by a donor without any consideration of PU. The gift is irrevocable. The gift can be either ‘restricted’ or ‘unrestricted’.
‘Restricted’ means that the donor specifies a condition(s) upon which the donation can be used. ‘Unrestricted’ means that the donor does not specify any condition for the utilization of the gifts.
Definition of Endowment
Endowment is a transfer of monies or properties as a donation to PU. An endowment may come with stipulations regarding its usage. In some circumstances an endowment may be required to be spent in a certain way or alternatively invested, with the principal to remain intact in perpetuity or for a mutually defined time period. This allows for the donation to have an impact over a longer period of time than if it were spent all at once.
G&E Not Acceptable to PU
The University shall not accept G&E in the following circumstances:
(i) G&E that is inconsistent with the University’s Academic Purposes and Corporate Principles.
(ii) G&E that inhibits/prohibits the University from seeking G&E from other donors.
(iii) G&E that involves discrimination.
(iv) G&E that obligates the University to violate any other applicable law or regulation or which violates the University’s Constitution, Statutes, Rules and/or Regulations.