Policy 736: Gifts and Donations for Perpetual Endowment Trust Fund

I. OBJET

The purpose of this policy is to provide guidelines for the acceptance of gifts by the School Board for the Perpetual Endowment Trust Fund and the management of non-cash gifts including but not limited to stock, vehicles and real estate.

II. PRINCIPES GÉNÉRAUX

Le Conseil scolaire des écoles publiques de Minnetonka encourage les dons et les contributions afin d'améliorer la qualité de l'éducation dispensée aux élèves et aux habitants. La participation de la communauté par le biais de dons et de contributions permet au district de mieux faire connaître sa vision, sa mission et ses valeurs à ses usagers.

III. REQUIREMENT

Gifts and donations to the District Perpetual Endowment Trust Fund include monetary or in-kind contributions given to the District by groups, organizations, businesses, or individuals for the purpose of enhancing either the district’s educational programs and/or physical facilities.
The proposed use of the donation must be consistent with the mission of the Perpetual Endowment Trust Fund to build a corpus that will generate investment earnings to maintain School Board-designated Programs of Significance for perpetuity.
The School Board reserves the right to accept or decline any gift based upon legal, ethical, financial, operational, or educational considerations.
Contributions of assets other than cash, such as stock, vehicles, or real estate shall be immediately sold and the subsequent cash proceeds invested in the investment vehicles authorized in Minnesota Statutes 118A.04.

IV. IMPLEMENTATION

Afin de garantir une utilisation optimale des dons et des contributions, les donateurs potentiels sont invités à consulter le directeur ou son représentant avant de faire un don.

Note: The provisions of this policy substantially reflect statutory requirements.