Rule 60304: External Nonprofit Corporations

1.  Title

External Nonprofit Corporations

2.  Rule and Regulation

Sec. 1  Acceptance of Gifts or Bequests.   The Board of Regents recognizes that there are legally incorporated nonprofit organizations (most having the word "foundation" in their charter) whose sole purpose is to benefit The University of Texas System, the institutions, or teaching, research, and other activities within those institutions. These organizations are administered by boards of directors independent from the control and supervision of the Board of Regents. Gifts or bequests from any such external organization to the University must be accepted and approved under gift acceptance policies.

Sec. 2   University-Affiliated Foundations.   The relationships between the U. T. System and U. T. System institutions and nonprofit organizations classified as University-Affiliated Foundations is defined in Regents’ Rule 60305.

3.  Definitions

None

4.  Relevant Federal and State Statutes 

None 

5.  Relevant System Policies, Procedures, and Forms 

Regents’ Rules and Regulations, Rule 60101, Acceptance and Administration of Gifts 
Regents’ Rules and Regulations, Rule 60305, University-Affiliated Foundations 
Regents’ Rules and Regulations, Rule 60306, Use of University Resources 

6.  Who Should Know 

Administrators 
Chief Business Officers 
Development Officers 

7.  System Administration Office(s) Responsible for Rule 

Office of External Relations 

8.  Dates Approved or Amended 

May 15, 2014 
December 10, 2004 

9.  Contact Information 

Questions or comments regarding this Rule should be directed to: 
•  bor@utsystem.edu