In today's political, economic, and ecologically-sensitive climate a university's or college's indiscriminate acceptance of gifts can have catastrophic consequences. Some donations of cash or even real property can bring with them legal and political, as well as ethical and philosophical complications that can cost the institution considerable…

Guidelines for state colleges and universities who wish to use a foundation as an umbrella organization for receiving all private gifts, restricted and unrestricted, are presented. In examining the need for a foundation, attention should be directed to: establishing credibility, marshalling volunteers, providing for a mechanism for accepting life…