The University will seek to avoid the situation where it becomes committed to expenditure for which it has insufficient funds. Accordingly, the terms of any specific donations and endowments must be carefully considered before a gift is accepted.
Until a full assessment is made, restricted donations should not be accepted (see section Specific Donations - Source of Funds H*** for more guidance on what is a restricted donation).
The Development Office can advise on provisional figures required to endow various types of posts and studentships in perpetuity or for limited periods. Their advice should be sought before any costings are put to a potential donor.
The conditions in relation to specific endowments are summarised in Chapter 13 - Trust Funds; they should be referred to for guidance in respect of discussions with potential benefactors. It provides guidance on:
- ensuring a sufficient capital value for the intended purposes
- allowing for related departmental and central costs
- the terms of the gift and subsequent wording of regulations.