2235 Gifts to Class Funds and Reunions

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.

• 5^th through 20^th and 55^th through 70^th reunions may select from an approved list of funds which includes endowed scholarship funds, internships, fellowships, and other University initiatives.
• 25^th through 50^th reunions may select from the approved list of funds, from a list of approved projects maintained by the Penn Fund, or a combination of both.
• Only 25^th and 50^th reunion classes may select capital projects, which may include a naming opportunity, from the approved project list; classes celebrating their 30^th through 45^th reunions may select from available non-capital options within the approved project list.

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:

• future developments make it impracticable or imprudent for the University to carry out the specific terms of the gift;
• the University determines that future developments have caused such terms to conflict with University policies; or
• renovations to capital projects/named spaces previously funded by a class are needed and the alumni class is not in existence or is unable to or fails to fund such renovations.