It shall also be the policy of MRA to actively seek such gifts and to provide adequate staff and resources for a full and effective program. The Executive Committee shall establish specific guidelines and conditions for various types of gifts through the basic formats that it approves. Authority to Negotiate, Approve Professional staff members of the development office shall be authorized to negotiate with any potential donor gift annuities and life income agreements and trusts that follow the basic format of the agreements approved by the Development Committee without further approval. All other agreements which are binding on the institution and which do not follow these forms shall receive the approval of the Executive Committee before final negotiations with the donor. Authority to Invest Investment policies shall be established by the Finance Committee and reviewed annually. It is essential that the investment policy in each case be clearly stated and rigorously followed. The Finance Committee shall have the authority to designate a trustee to manage the investments. Separate Trustees In arrangements requiring a trustee, donors should be urged to use their bank or trust company as trustee. MRA should act as trustee only when required by law, or when the donor requests that the school do so and cannot be persuaded otherwise. In the case that MRA is asked to serve as trustee, the proposed gift arrangement must be presented to the full board or to the Executive Committee of the Board of Trustees for discussion and consideration before acceptance. Donor’s Rights and Interests In all matters involving donors or prospective donors, the interests of the donor shall come before those of the school. No program, agreement, trust, contract, or commitment shall be urged upon any donor or prospective donor that would benefit MRA at the expense of the donor’s interest. No agreement shall be made between MRA and any agency, person, company, or organization on any matter whether investment, management, sale, or other interest which would knowingly jeopardize or compromise the donor’s interests. It shall be the policy of the school, its trustees and staff to exercise extreme caution against the use of any high-pressure sales techniques when dealing with prospective donors. The task of all shall be to inform, serve, guide or otherwise assist in fulfilling the donor’s philanthropic wishes, but never under any circumstances to pressure or unduly persuade. In keeping with this policy, all staff employed by MRA to administer or promote planned gifts shall be paid on a fixed salary or other basis and not receive a commission related to gifts received in such a way as to create a personal financial interest in any agreement. Commercial programs designated for only one company or one agent shall be avoided. Review of Agreements Madison-Ridgeland Academy shall seek the advice of legal counsel in all matters pertaining to its Planned Giving Program, and shall execute no agreement, contract, trust or other legal document with
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