King Washington Gift Agreement Between Donors and University Foundation with Purpose of Gift to Construct Building to be Named after Donors

• Category: Gifts - Donations
• State: Multi-State
• County: King
• Control #: US-13369BG
• Format: Word; Rich Text

Description

This form is a sample gift agreement between donors and a university foundation with the purpose of the gift to be construction of a building to be named after the donors. King Washington Gift Agreement Between Donors and University Foundation with Purpose of Gift to Construct Building to be Named after Donors — Types 1. General Overview: The King Washington Gift Agreement is a formal document that establishes a partnership between individual donors and a university foundation. The purpose of this agreement is to outline the terms and conditions under which the donors will contribute a gift to the university for the construction of a new building, which will be named after the aforementioned donors. This detailed description aims to provide an in-depth understanding of the various components and considerations involved in the King Washington Gift Agreement. 2. Parties involved: The agreement involves two primary parties: the donors and the university foundation. The donors are typically individuals who wish to make a significant contribution to the university, either out of personal philanthropy or with a specific intention or connection to the university. The university foundation represents the institution and acts as the recipient and manager of the gifted funds. 3. Purpose and nature of the gift: The purpose of the gift in the King Washington Gift Agreement is to finance the construction of a new building on the university campus. This building will serve a specific function, which may vary depending on the donors' intent and university's needs. Examples of building purposes include academic facilities, research centers, athletic facilities, or libraries. The donors' goal is to leave a lasting legacy and contribute to the development and growth of the university. 4. Naming rights: One distinctive aspect of the King Washington Gift Agreement is that the new building will bear the name of the donors. This naming opportunity is a way for the university to express its gratitude and honor the impact of the donors' gift. Being named after the donors serves as a recognition and acknowledgment of their philanthropy, while also creating a lasting memorial for generations to come. 5. Gift amount and conditions: The King Washington Gift Agreement will specify the monetary value of the donation committed by the donors. The document also elaborates on any conditions or restrictions associated with the gift, such as allocation of funds exclusively for construction costs or limiting the use of the building to a particular field of study. These conditions ensure that the donors' wishes are fulfilled and that their legacy aligns with their philanthropic goals. 6. Terms of the agreement: The agreement outlines the various terms and conditions that both parties must adhere to throughout the process. This includes the time frame for the construction of the building, expectations regarding regular progress updates, and any additional requirements for the official naming ceremony. It is important for both the donors and the university foundation to comply with these terms to ensure a smooth execution of the agreement. In summary, the King Washington Gift Agreement between individual donors and a university foundation establishes a partnership to construct a building on the university campus, which will be named after the donors. This agreement encompasses various elements such as the purpose of the gift, naming rights, the amount and conditions of the donation, and the terms governing the agreement. By entering into this agreement, both donors and the university foundation can effectively contribute to the growth and development of the institution while leaving a lasting mark on the campus.

King Washington Gift Agreement Between Donors and University Foundation with Purpose of Gift to Construct Building to be Named after Donors — Types 1. General Overview: The King Washington Gift Agreement is a formal document that establishes a partnership between individual donors and a university foundation. The purpose of this agreement is to outline the terms and conditions under which the donors will contribute a gift to the university for the construction of a new building, which will be named after the aforementioned donors. This detailed description aims to provide an in-depth understanding of the various components and considerations involved in the King Washington Gift Agreement. 2. Parties involved: The agreement involves two primary parties: the donors and the university foundation. The donors are typically individuals who wish to make a significant contribution to the university, either out of personal philanthropy or with a specific intention or connection to the university. The university foundation represents the institution and acts as the recipient and manager of the gifted funds. 3. Purpose and nature of the gift: The purpose of the gift in the King Washington Gift Agreement is to finance the construction of a new building on the university campus. This building will serve a specific function, which may vary depending on the donors' intent and university's needs. Examples of building purposes include academic facilities, research centers, athletic facilities, or libraries. The donors' goal is to leave a lasting legacy and contribute to the development and growth of the university. 4. Naming rights: One distinctive aspect of the King Washington Gift Agreement is that the new building will bear the name of the donors. This naming opportunity is a way for the university to express its gratitude and honor the impact of the donors' gift. Being named after the donors serves as a recognition and acknowledgment of their philanthropy, while also creating a lasting memorial for generations to come. 5. Gift amount and conditions: The King Washington Gift Agreement will specify the monetary value of the donation committed by the donors. The document also elaborates on any conditions or restrictions associated with the gift, such as allocation of funds exclusively for construction costs or limiting the use of the building to a particular field of study. These conditions ensure that the donors' wishes are fulfilled and that their legacy aligns with their philanthropic goals. 6. Terms of the agreement: The agreement outlines the various terms and conditions that both parties must adhere to throughout the process. This includes the time frame for the construction of the building, expectations regarding regular progress updates, and any additional requirements for the official naming ceremony. It is important for both the donors and the university foundation to comply with these terms to ensure a smooth execution of the agreement. In summary, the King Washington Gift Agreement between individual donors and a university foundation establishes a partnership to construct a building on the university campus, which will be named after the donors. This agreement encompasses various elements such as the purpose of the gift, naming rights, the amount and conditions of the donation, and the terms governing the agreement. By entering into this agreement, both donors and the university foundation can effectively contribute to the growth and development of the institution while leaving a lasting mark on the campus.