Policy 736: Gifts and Donations for Perpetual Endowment Trust Fund

I. OBJETIVO

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. DECLARACIÓN GENERAL DE POLÍTICA

La Junta de Educación de las Escuelas Públicas de Minnetonka fomenta el uso de donaciones y contribuciones para mejorar la calidad de la educación tanto de los alumnos como de los residentes. La participación de la comunidad a través de donaciones y contribuciones permite al distrito transmitir mejor a sus usuarios su visión, su misión y sus valores.

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

Para garantizar el máximo aprovechamiento de las donaciones, se insta a los posibles donantes a que consulten con el superintendente o la persona designada antes de realizar una contribución.

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