Management Policies
The planned gifts program legally commits Ashland University and its Board of Trustees to obligations extending into the future. Therefore, the Board of Trustees has formally adopted the following policies which protect:
* The best interests of the donor.
* The official representatives of the institution.
* The welfare of the institution itself.
* The administrators charged with management of the planned gifts program.
The following policies are to be adhered to by representatives of Ashland University:
Conflict of Interest
The planned gifts program is guided by principles of Christian stewardship and is donor-centered to help each individual in the context of his or her own unique circumstances, interests and needs.
The interests of Ashland University will not take precedence over the interests of the donor. No program or commitment is urged upon any prospective donor which benefits Ashland University at the expense of the donor. The University will not knowingly enter into any agreement which will jeopardize the donor's interests.
It is the practice of Ashland University to recommend that an outside party serve as executor of any estate in which the University is a beneficiary.
If Ashland University serves as a trustee or co-trustee of any trust of which the University is the beneficiary or of any partial interest thereof, the trust management/administration will be supervised by the Vice President for Business Affairs, consistent with the current investment policy for trust funds established by the Board of Trustees or its designee, the University's Investment Committee.
In the case of very specialized planned giving instruments that require professional services of a legal investment or purchase nature, neither the University nor any representative or employee of the University shall profit financially, directly or indirectly, from any such transaction. This policy would exempt legal and ethically sound open transactions between close personal friends and previous business associates, but in no way should cast any suspicion or conflict of interest.
Tax and/or Additional Counsel
Prospective participants in planned gift instruments or gifts from estate planning efforts must be urged by University representatives to consult with their own personal advisers (e.g., accountants, certified estate planners, investment brokers, legal counsel, etc.) prior to any formal agreement being finalized.
Solicitation Procedures
Representatives of Ashland University shall exercise extreme caution to avoid pressure or undue persuasion when dealing with prospective donors. Information regarding a plan including benefits, limitations, and tax implications must be provided to a prospective donor before a gift is made.
All personnel employed by Ashland University to contact prospective donors or to promote the planned gifts program shall be paid a salary or fixed wage, and shall not receive commissions or other benefits which could give such personnel a personal interest in any agreement.
Scope of Service
Services of representatives of Ashland University shall extend beyond the interest of the University by encouraging donors to remember personal and family responsibilities.
Confidential Information
All information concerning prospective donors including names and addresses, beneficiaries, nature and worth of estates, amount of bequests, etc., shall be kept strictly confidential by Ashland University and its personnel unless the donors grant written permission to use certain information for purposes of referral, testimony, or example.
Authorizations for Negotiation
Only the personnel approved by the President, in concert with the Vice President for Development and Public Relations, shall be authorized to negotiate on behalf of Ashland University with respect to planned gift programs.
Oversight
The Development Committee of the Board of Trustees shall provide oversight and guidance to the Office of Legacy Estate Programs. Development staff members shall consult with the chairperson of the Development Committee regarding specific policy questions.
