Perdana University (PU) solicits and receives gifts and endowment (G&E) to further its Mission of Education, Research and Community & Public Service, as well as to support the University’s Philanthropic Initiatives. PU accepts all G&E on behalf of the University and/or PU Endowment Fund.
PU seeks support for the creation of a framework for G&E, which can provide significant financial benefits to the University in order to flourish, sustain and accelerate the University’s outstanding Schools and Centres of Excellence.
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.
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.
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.
Monetary Donations: Monetary donations may be given in the form of cash, cheque, electronic funds transfer, credit card transaction, or other cash or monies transfer media accepted by the University.
Gifts-in-Kind: Gifts-in-Kind are donations of property or item other than cash. The gift can include donations of land, buildings, marketable securities, equipment, furniture, collectable objects, library materials, archival materials and office supplies.
Gifts-of-Securities: Gifts-of-Securities are donations of gifts in the form of shares or securities, which include also donation of mutual funds.
Pledged Gifts: Pledged–Gifts are future committed gifts or donation in cash or kind with clear description of intent and purpose from the donor and include unrestricted gifts.
Gifts for Student Awards and Scholarships: The University accepts gifts for Student Awards for specific purposes, and also Student Scholarships to fund their studies.
Permanent Endowment: With Permanent Endowment, the Donor specifies that the principal amount is to be invested and maintained in perpetuity; it cannot be spent. Only the income/interests derived from the investment may be utilized.
Quasi Endowment: With Quasi Endowment, the University must retain the purpose and intent of the fund as specified by the Donor or source of the original funds and only income/interests may be spent for those specified purposes. The principal may be expended if stipulated by or in consultation with the Donor.
Term Endowment: With Term Endowment, all or part of the principal amount given by the Donor may be expended after the expiration of a stated period of time or occurrence of a specified event, depending on the Donor’s wishes.
Donors: Donors are individuals, corporations or bodies that contribute money or gifts-in-kind to the University’s G&E fund for specific or general purposes of the University.
Due Diligence Exercise: The University will conduct a due diligence exercise on the donor including the source of the purported contribution prior to accepting any donation.
All G&E endowed to the University are subject to the approval of the PU Endowment Fund ‘s Board of Trustees in accordance to the University’s Rules and Regulations.
(a) Monetary donations may be given in the form of cash, cheques, electronic fund transfers, credit card transactions or other cash transfer media accepted by the University. (b) Employees of the University may make donations by way of salary deductions.
(c) For monthly/scheduled donations, the Donor may do so through credit card payments, salary deductions and/or pre-authorized electronic transfer of funds.
(d) Monetary donations shall be issued to the PU Bursary and may be received by Schools, Departments, Centres or any Units in the University. All gifts must be forwarded to the PU Endowment Fund Secretariat for processing.
(e) Receipts shall be issued by the University’s Bursary for all monetary donations under G&E.
For all pledges of value RM10,000 or more, a Letter of Intent or Gift Agreement must be executed by the Donor. All pledged gifts must be realised by the donor within six (6) months from the date of the Letter of Intent or Gift Agreement.
(a) The PU Endowment Fund Secretariat is responsible to evaluate and coordinate the receiving of all non-monetary items of G&E, and to inform the University’s Bursary.
(b) An acknowledgement or receipt shall be provided by the University’s Bursary on all non-monetary donations under G&E.
Perdana University aims to generate additional income and diversify its sources of income, to cater to increased expectations and their related strategic initiatives. More resources would be required to fund Students and Staff mobility programmes, and to attract international collaborations, to increase Perdana University’s global prominence.
The PU Endowment Fund Board of Trustees comprises of:
(b) Director, PU Centre of Research Excellence (PUCRE);
(e) Two External Members
The Board of Trustees will be assisted by a Secretariat comprising;
(a) One Academician
(b) Deputy Registrar
(c) One Administrative Staff
The PU Endowment Fund Board of Trustees is responsible for:
(i) Preparing Policy Documents, Guidelines and SOPs for the G&E Program;
(ii) Strategizing ways to increase G&E funds for PU;
(iii) Appointment of any Sub-Committee(s).
Unless indicated by the Donor, PU Endowment Fund Board of Trustees shall decide on the use of the G&E Funds. This includes Academic & Internationalisation; Research; Talent Development; Resources, Community & Industry Engagement Activities and/or Projects; and all other uses deemed fit by the University.
In order to preserve the real value of PU’s G&E Assets, a spending rate can be proposed that strikes a reasonable balance between current spending outlays and reinvestment of the remainder to support spending in the future. An appropriate percentage of market value will be set annually by the PU Endowment Fund Board of Trustees.
All G&E Funds shall be invested in accordance with PU Investment Policy.
Disbursement of G&E
Disbursement Policy for ‘restricted’ G&E is based on Donors’ Terms of Reference, and ‘unrestricted’ G&E is in accordance with procedures under Section 9 (3) of the Financial Procedure Act 1957.
Anti-Money Laundering Act 2001
The University will report to the Authorities if it has credible belief or information that a donation or purported donation is associated to an Illegal Activity or derives from an unlawful source under the Anti-Money Laundering Act 2001.
The University will ensure that all donations are sourced, received and utilised in compliance with the Syariah Laws.
This G&E Policy may be reviewed and revised yearly to ensure that it remains relevant and effective for the continuity of PU’s Endowment Fund Program.
CIMB: A/C No 8001539175
A/C Name : Perdana University
Note: In the “Recipient Reference” section of your Online Banking, please indicate: PU Endowment Fund
Email your Proof of Transaction to: firstname.lastname@example.org
PU Endowment Fund, Perdana University
Suite 5.3, 5th Floor, Wisma Chase Perdana, Jalan Semantan, Damansara Heights, 50490 Kuala Lumpur
General Line: +0389418646 OR +0320116478 Mobile: +60199126828