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Policy Statement

This policy will be the guiding principles and requirements for Sustainable Funding / Donations at Prince Sultan University (“PSU”).

Background and Justification

Prince Sultan University (“PSU”) embraces a unique role in contributing to the United Nations Sustainable Development Goals (SDGs). The goals are the blueprint to achieve a better and more sustainable future for all. The University will continue its efforts to engage in Sustainable Funding / Donations within this framework.

Scope and Purpose

Reflecting the strong commitment to the UN Sustainable Development Goals (SDGs), the purpose of the Sustainable Funding / Donations Policy is to govern the acceptance of philanthropic donations, gifts, endowments, and to provide guidance to donors and their professional advisors in making gifts to the University. Donors may be individuals, government agencies, foundations, associations, businesses, or companies.

The policy applies to the receipt of gifts, donations, and funding whether in cash, in-kind, shares, and some grants where there is an intention to give, and the transfer of all rights to PSU. This policy applies to all staff and entities within the University.

Principles of the Policy

• As a socially responsible institution, PSU embraces its unique role in contributing to the United Nations Sustainable Development Goals (SDGs). The Vice-President for Administrative and Financial Affairs Office oversees sustainable donations and funding based on environmental, social, and governance (ESG) standards.
• Each donation and funding will be considered on a case-by-case basis in accordance with this policy.
• All proposed donations to the University must be communicated to PSU President and the Vice-President for Administrative and Financial Affairs prior to solicitation; they will jointly determine whether a donation agreement is required and what due diligence may be necessary.
• Proposals should clearly set out the purpose of the donation and the source of the donation.
• The University will not accept gifts that do not support its mission and goals or are non-compliant with UN SDGs (e.g., activities causing explicit environmental damage, manufacture or sale of tobacco products, etc.).
• The University’s general position is to refuse donations where, following due diligence, the donor’s activities are found contrary to PSU’s values and strategic goals.

Definitions

Fundraising: All PSU fundraising activities including soliciting gifts/donations, managing donor relationships, bidding for and managing philanthropic donations, and the stewardship of funds. It includes managing certain government grants but excludes research grants managed under PSU Research Bylaws.

Endowment: A fund in which the donor stipulates that the principal be maintained inviolate and in perpetuity, with income derived used for specified purposes.

Gifts: An irrevocable transfer of personal or real property by a donor for charitable purposes designated by the donor and without expectation of tangible benefit.

Responsibilities and Implementation Strategies

The Vice-President for Administrative and Financial Affairs Office is responsible for coordinating University-wide funding and donation activities under the direction and approval of the President.

The Vice-President for Administrative and Financial Affairs Office, via the Institutional Financial and Risk Management Committee, annually reviews available and expected funding amounts.

This Sustainable Funding / Donations Policy will be reviewed annually by the Institutional Financial and Risk Management Committee and the Center for Sustainability and Climate, and reported to the Policies and Development Unit (PDU) for review and approval, before submission to the University Council.

Procedures for Handling Policy Violation

1. PSU Institutional Financial and Risk Management Committee, in coordination with the Center for Sustainability and Climate, will evaluate all Sustainable Funding / Donations regularly based on ESG characteristics and sustainability factors. If any non-compliance with the policy is found, the Committee will report to the Vice-President for Administrative and Financial Affairs Office and the Compliance and Legal Office.

References

1. Approved: PSU University Council