Stewardship Committee
The University of Illinois Foundation Stewardship Committee of the Board of Directors is a permanent committee that provides oversight involving the stewardship of donor funds held by UIF. The Stewardship Committee serves in a donor advocacy role in reviewing and/or addressing matters of donor intent, monitoring practices that protect donor intent, and ensuring confidentiality of donor information. An alternate application request may be made when gifts can no longer be administered as originally intended because the guidelines are improbable, impractical or illegal and the donor is deceased, therefore an amendment cannot be sought.
Guidelines
There is a formal process that must be followed to present an alternate application request for final approval by the Stewardship Committee of the UIF Board. It is not always an option, nor is it always approved.
When an Alternate Application Request is Appropriate
This process is often pursued when the donors are deceased, for example:
- The minimum endowment level required for the purpose of the associated fund has not and will not reasonably be met.
- The purpose for which the associated fund was created no longer exists.
- The criterion of the associated fund is improbable, impractical, or illegal.
This process is not an option when:
- The fund is governed by a Will or some other estate document.
- The existing governing document does not have an alternate application clause.
- In these cases, a Cy Pres proceeding may be required upon legal review.
Alternate Application Request Process
Gather all related documentation (fund agreements, donor/unit correspondence) and provide the requested change and reasoning in an email to Jamie McFarling, OVCIA Senior Director of Stewardship and Donor Relations (jmp@illinois.edu) and Susie Brown, UIF Director of Gift Administration (smbrown1@uif.uillinois.edu) for review. If it is determined that a case can be made for alternate application, a memo must be drafted addressing the below information. Jamie will forward a sample memo for reference.
- Objective: What is the purpose of taking this to the committee?
- History and Background of the Fund: Discuss why the fund was established and when it was spent last.
- Reason for requesting the change: Why are we no longer able to meet intent or why does an amendment need to be created. Are there any living family members involved in the stewardship? Letters from family members can be included if they agree to an amendment.
- Request to update documents to reflect current university policies: This would apply if the fund agreement was created under old policies and practices that have now changed under new boilerplate language.
Once the memo is approved by UIF, VC of Advancement and Dean of unit, Dean will sign memo and Jamie McFarling will route for campus signatures (this includes the Chancellor, Provost, UIF President UIF CFO).
Timeline
All documents and signatures must be sent to the Stewardship Committee at least one week before the scheduled review. The VC of Advancement will present the memo and documentation. You will then be notified immediately after the review of the decision with corresponding documentation provided shortly thereafter.
The Stewardship Committee meets three times per year, but a special session can be requested in cases of multiple funds being presented. Reach out to Jamie McFarling or Susie Brown as soon as you are aware of a fund to consider.