To document the University’s financial policies and practices related to undergraduate alumni class funds and reunion funds.
May, 2023Responsible Office
The University supports the efforts of alumni classes to raise donations for group funds, subject to the University’s development effort and policies related to reunion projects, managed by the Penn Fund staff in Development and Alumni Relations (“DAR”). The Penn Fund staff maintains detailed procedures for class fundraising.
The University will establish a restricted operating gift fund within The Penn Fund for each class to collect unrestricted donations to the University from class members. Gifts designated by a donor to individual endowed funds or other specific priorities will be restricted to those areas. In addition, classes celebrating quinquennial reunions may select special funds or approved projects for which to fundraise as part of their milestone campaigns. Classes may direct up to 50% (but no more than $250,000) of the unrestricted gifts and pledges made during their milestone celebratory year to the selected special fund or approved project.
Class projects are capped at a maximum of $250,000 unless special approval has been granted by the Executive Director of The Penn Fund and/or the Senior Associate Vice President for DAR. Excess funds once a project goal has been met are designated unrestricted for The Penn Fund.
Procedures for the allocation of incoming unrestricted receipts are administered by The Penn Fund.
Consistent with donor-funded capital projects/named spaces, if renovation or replacement of a capital project or named space previously funded by a class is needed, the University may allow the class a right of first refusal to maintain the named space with additional funding. If the class decides not to participate financially, the University will have the option to rename the space, while continuing to acknowledge the class in an appropriate way.
In addition, the president of the University shall have the discretion to alter the specific terms of a class gift, if: