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Policy Name: TWU Foundation and University
Policy No: 7.02
Date Passed: 10/10/1999
Last Reviewed: July 2013
Review Next: July 2015

Memorandum of Agreement between Texas Woman's University
and The Texas Woman's University Foundation

Memorandum of an Agreement made and entered into by and between the Texas Woman's University ("University"), and the Texas Woman's University Foundation ("Foundation"), a charitable, benevolent and educational institution incorporated by a Private and Special Act of the Texas Legislature.

  1. The University recognizes that the Foundation was originally created for the purpose of promoting, fostering, and financially assisting Texas Woman's University, and that it is primarily engaged in acting as an independent corporate fiduciary soliciting, managing and investing funds for the benefit of the University and otherwise supporting the University.
  2. The Foundation and the University are desirous of assuring a continuing cooperative relationship to ensure that the people of the State of Texas are presented with an integrated and consistent fund-raising plan for the University.
  3. It is understood that the President of the University has the overall responsibility for coordinating a University-wide fund-raising plan which utilizes the input from the various fund-raising units, including the Foundation. It is further understood that the President may delegate responsibility for implementation of the fund-raising plan in such manner as the President deems most appropriate to accomplish the University's objectives.
  4. It is mutually understood and agreed that the Foundation shall retain its status as a separate and independent organization. However, the Foundation recognizes that the President, an ad hoc member of the Foundation Board, will convey the University's needs, priorities, and opinions on any matter which relates directly or indirectly to the University. The Foundation shall at all times conduct itself in such manner as to preserve its tax-exempt status under applicable laws and regulations.
  5. It is understood and agreed that the Foundation (including its officers, employees, and agents, if any) shall act solely in the capacity of an independent contractor and not as an agent of the University.
  6. The Foundation shall assume primary responsibility for deferred and planned giving to the University, which is more clearly defined in Attachment "A'' of this agreement, that is not inconsistent with or contrary to the expressed desires of prospective donors and will manage and invest endowment funds on behalf of the University in strict accordance with any appertaining governing instrument.
  7. The Foundation shall conduct its fund-raising and other activities in a manner that is consistent with and supportive of the total fund-raising efforts of the University. In the event the Foundation solicits a gift from a donor who has not expressed a specific limitation or use for the gift, the Foundation shall give priority to the University's preference for such use. Those preferences shall, from time to time, be communicated to the Foundation by the President of the University.
  8. The Foundation and University agree to work in a closely coordinated and cooperative manner to adopt and pursue strategies designed to promote efficiency and to maximize effective contacts with potential benefactors and to eliminate duplications of effort and expense in fund-raising activities.
  9. The University agrees to extend eligibility to the Foundation to utilize University facilities, programs, and services, subject to availability and any established policy and/or procedure applicable to such facility, program, or services, including those relating to the payment of fees and expense, or both associated with such use.
  10. The initial term of this Agreement shall be from August 21, 1998 to August 21, 1999, and it shall automatically renew each year thereafter until terminated. Either party may terminate this Agreement at anytime for any reason upon six (6) months written notice to the other party.
  11. Any notice that may be contemplated hereunder shall be in writing and shall be deemed to be duly given when personally delivered or when deposited in the United States Mail, by Certified or Registered Mail, postage prepaid, at the respective addresses of the Foundation and University as set forth below, or to such other address as either party shall designate by written notice to the other.
    As to the University:
        President
        Texas Woman's University
        P.O. Box 925587
        Denton, Texas 76204

    As to the Foundation:
        Secretary
        Texas Woman's University Foundation
        P.O. Box 425618
        Denton, Texas 76204

  12. In the event either party believes that the other is not honoring the terms and conditions of this Memorandum, then it shall immediately notify the other so that all conflicts, disputes, and misunderstandings can be promptly resolved.
  13. This Agreement supersedes all prior written or oral agreements relating to the subject matter and may not be altered or amended except in writing executed by both parties.

    IN WITNESS WHEREOF, the parties have hereunto executed this Agreement, which was approved by the Texas Woman's University Foundation on May 1, 1998 and by the Texas Woman's University Board of Regents on August 21, 1998.

    TEXAS WOMAN'S UNIVERSITY
    Ms. Sheila Whitaker-Kellagher
    Chair, Board of Regents

    TEXAS WOMAN'S UNIVERSITY FOUNDATION
    Mr. Sennett Kirk III
    Chair, Foundation Board

______________________________________________________________________________________

ATTACHMENT "A

 During the term of the Agreement, the Foundation shall be responsible for conducting planned and deferred giving activities on behalf of the University.

The services to be performed by the Foundation hereunder shall include, but not be limited to:

  1. Solicitation and acceptance of gifts that are to be endowed for the benefit of the University;
  2. Solicitation and acceptance of deferred gifts such as charitable remainder trusts, charitable lead trusts, pool life income plans, life insurance, gift annuities and bequests;
  3. Acceptance of certain gifts of real estate;
  4. Management of a bequest society to give recognition for deferred gifts and bequests, except as noted by the donor;
  5. Issuance of gift receipts, acknowledgment letters, and other appropriate correspondence regarding all gifts and contributions to the Foundation;
  6. Preparation and submission of copies of deposit records and transmittal receipts to the Office of the Vice President for Institutional Advancement;
  7. Performance of duties, where appropriate, with designated personnel of Texas Woman's University to arrange press conferences, news releases, radio/television and other media communications to acknowledge significant gifts to the University through the Foundation;
  8. Preparation and production of appropriate fund-raising materials for planned and deferred giving programs at the Foundation's cost, including but not limited to brochures, slide presentations, pledge forms, and funding proposals;
  9. Furnishing to the University an annual summary of endowed gifts as may be necessary to complete the Annual Report for Private Support and the Council for the Financial Aid to Education Report.

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