Key Aspects of Gift Agreements

Abstract

One of the most important reasons to have gift agreements is to create a satisfactory experience for the donor, says Serena Livingston, director of gift administration and recording secretary for the Rhode Island School of Design (RISD; Providence, RI). “It's also important to have very specific preferences and clarity on what the use of the fund is and how it will be administered,” she says. Working with the gift officer in direct communication with the donor and a senior staff member, Livingston's role is to manage all gift agreements. Certain gifts may also trigger involvement by other staff members, including the finance or legal office, stewardship office, financial aid office, the president or provost, the CFO, the facilities management office, the prospect research office or the gift acceptance committee. When it comes to maintaining integrity and quality in documenting gift agreements, written procedures are huge, Livingston says, “It's really important to have a standardized process and workflow and to specify what will trigger the requirement for additional review.” Source: Serena Livingston, Director, Gift Administration and Recording Secretary, Rhode Island School of Design, Providence, RI. Phone (401) 454-6325. Email: slivings@risd.edu. Website: https://www.risd.edu