Donations to ACNP as permanent endowments:
The ACNP Council has determined the following will be the policy for members who want to give a gift to the College for the purpose of permanently establishing a travel award or for some other specified purpose:
- 1. The donor will be responsible for providing written documentation stating the purpose for the donation and any restrictions that accompany the donation. ACNP reserves the right to refuse a gift if it determines that the purpose of the gift is not consistent with the ACNP mission and purpose, or if it determines that it is not willing to agree to the restrictions placed on the gift.
- 2. Notwithstanding the stated purpose of the donation and ACNP's acceptance of the gift, the donor will be asked to sign a document acknowledging that if at some point in the future the mission and purpose of the College should change such that the purpose of the gift no longer is appropriate for the College that the ACNP is free to redirect the funds to another suitable purpose within the College.
- 3. The donated funds will be recognized on ACNP financial statements as a permanently restricted asset.
- 4. Only the interest or net gain on the invested funds may be used, and then only used for the purpose for which the funds were donated.
- 5. The funds will be deposited into an investment fund, to be determined at that time, which allows the best return on investment while still protecting the principal.
- 6. To permanently fund a travel award, a gift of at least $100,000.00 will be required.
The above stated policy is intended to apply to ACNP members. In the event that any other individual or corporate entity wants to make a restricted donation to the ACNP, Council will make a determination based on individual circumstances.