Policy 2301: Acceptance of Gifts and Bequests

Subject Area: Private Gifts and Grants
Responsible Office: Financial Services
Sponsor: Trustees
Originally Issued: September 1993
Revised: December 2009
Refer Questions To: Suzanne Baker, 773-702-7536

Purpose: The University is the recipient of gifts and bequests, many of which are for specific purposes or subject to various conditions. The University is often requested to accept such gifts and bequests upon the condition that the University agrees to be bound by the terms and conditions of such gifts or bequests, and to execute documents to that effect. This policy establishes authority to accept such gifts and bequests.


The Board of Trustees has authorized any one of the following officers of the University:

  1. President
  2. Vice President for Operations and Chief Financial Officer
  3. Vice President for Alumni Relations and Development
  4. Vice President and General Counsel
  5. Vice President and Chief Investment Officer

to accept gifts and bequests and agree to their terms and conditions on behalf of the University of Chicago, to receive payments of such gifts and bequests, and to execute and deliver on behalf of the University receipts and other documents that may be required in connection with receipt or payment of such gifts and bequests.