Ensure that your intentions are carried out
In the majority of cases, it is appropriate to define how the University will apply a legacy gift to reflect what is important and relevant to the bequestor. A “Statement of Intentions” serves the purpose of translating your motives and intentions into workable instructions for the University over the lifetime of your gift.
The “Statement of Intentions” represents the collaborative efforts of the University of Auckland and the donor in striking the best balance between achieving the donor’s long-term objectives and in supporting programmes and projects of on-going relevance and importance at the University.
A “Statement of Intentions” could include information regarding:
- The distribution schedule for funds (commencement date, tenure, frequency etc.)
- The process of distribution (decision-makers, application process etc.)
- The recipients – criteria for the entity or for the individual (departments and Faculties, programme or research objectives, qualifications and grades, personal and financial situation, contribution to community or profession etc.)
- Type of expenditure (tuition fees, capital expenditure, travel grants, research materials etc.)
- How the University or an individual will recognise and acknowledge the bequestor (or bequestors nominee)
Normally, what works best in terms of a sequence of events is:
- University development staff member clarifies and details the donor’s wishes.
- University development staff member communicates these to the appropriate academic(s) or administrator(s) with approximate gift date and other relevant info if available (likely amount, contingencies etc.) and seek an endorsement from them – as being workable instructions.
- University development staff member checks if the statement could be too restrictive with the University of Auckland Foundation and amend according to their recommendations.
- University development staff communicates the suggested Statement of Intentions to the bequestor making it clear that the statement is able to be amended without re-writing of their will and that a copy will be retained at the University of Auckland to ensure the gift is applied appropriately.
We would be very happy to correspond with you in drawing together a Statement of Intentions that meets your satisfaction if that would work for you.