Purpose

Reflecting the strong commitment to UN Sustainable Development Goals (SDGs), the purpose of the Sustainable Funding/Donations policy is to govern the acceptance of philanthropic donations, gifts, endowment 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, funding whether cash, in kind, shares and some grants where there is an intention to give, and the transfer of all right is to PSU. This policy applies to all staff and entities within the University.

Policy

Terms Definitions

Fundraising: All fundraising activities of PSU including soliciting gifts/donations, managing relationships with donors, bidding for and managing philanthropic donations, and the receipt and stewardship of funds raised. It also includes bidding for and managing grant funding from Government (e.g. from Local Enterprise Partnerships), but not research grants which are managed according to the Research Bylaws of the PSU.

Endowment: A fund in which the donor has stipulated the principal be maintained inviolate and in perpetuity, but that all or part of the income derived from investment of the principal may be expended for the specified purpose.

Gifts: An irrevocable transfer of personal property (e.g. cash, books, equipment) or real property by a donor for the charitable purpose designated by the donor and without expectation of a tangible or economic benefit to the donor except tax benefits.

• As a socially responsible institution, PSU embraces its unique role in contributing to the United Nations Sustainable Development Goals (SDGs). The VicePresident for Administrative and Financial Affairs Office oversees the 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 communicated to PSU, President, 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 set clearly the purpose of the donation and the source of the donation
• The University will not accept gifts that do not support the University’s mission and goals and non-compliance with UN SDGs (e.g. a. Explicit environmental damage, manufacture and sale of tobacco products etc.). The University’s general position is that it will refuse a donation where, in the University’s opinion and following due diligence and review by the appropriate committee, the activities of the donor are otherwise contrary to the values and strategic goals of the University.

Implementation

• In order to monitor the implementation and ongoing adherence to this Policy, The Vice- President for Administrative and Financial Affairs Office is responsible for coordinating University-wide funding and donations activity 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) and annually reviews amounts available, or expected to be available.
• This Sustainable Funding/Donations Policy will be reviewed annually by the Institutional Financial and Risk Management Committee and Center for Sustainability and Climate and then reported to the Policies and Development Unit (PDU) to be approved then submitted to the University council.