Purpose: The purpose of this policy is to establish guidelines for soliciting, accepting, and managing financial contributions to GUST, ensuring that funding aligns with the institution's mission, values, and commitment to sustainability.
Scope: This policy applies to all fundraising and donation activities conducted by or on behalf of GUST, including contributions from individuals, corporations, foundations, and other entities.
Guiding Principles
Alignment with Mission: All fundraising efforts and donations must align with the mission, vision, and values of GUST, supporting the institution's educational, research, and community engagement goals.
Ethical Fundraising: The university is committed to conducting fundraising activities with the highest ethical standards, respecting the dignity and autonomy of donors, and avoiding conflicts of interest.
Sustainable Funding Criteria
Environmental Impact: GUST encourages donations that support environmentally sustainable practices, initiatives, and projects, including but not limited to renewable energy, conservation, and sustainable campus development.
Social Impact: Donations that contribute to positive social impact, such as scholarships, community engagement programs, and initiatives that promote diversity and inclusion, will be prioritized.
Governance and Transparency: GUST values donations that uphold principles of good governance, transparency, and accountability. Donors are encouraged to be transparent about the intended use of their contributions.
Due Diligence
Legal and Ethical Compliance: Before accepting a donation, the university will conduct due diligence to ensure that the funding source and purpose align with legal and ethical standards.
Source Verification: The university will verify the legitimacy and reputation of the donor or funding source to ensure that there are no conflicts with the institution's values or mission.
Donor Recognition and Stewardship
Recognition: Donors will be appropriately recognized for their contributions, with acknowledgment and gratitude expressed in a manner consistent with university policies and donor preferences.
Stewardship: GUST is committed to ongoing communication with donors, providing updates on the impact of their contributions and maintaining a positive and transparent relationship.
Reporting and Transparency
Reporting: The university will provide regular reports on the utilization of donated funds, demonstrating transparency and accountability to donors, stakeholders, and the public.
Transparency: Information regarding fundraising goals, progress, and outcomes will be made available to the public, fostering transparency and trust in the university's fundraising activities.
Review and Revision
Periodic Review: This policy will be subject to periodic review to ensure its effectiveness and relevance in light of evolving best practices, regulatory requirements, and the university's mission and values.
Revision Process: Proposed revisions to this policy will undergo a thorough review process involving relevant stakeholders, including development and fundraising professionals, governance bodies, and other relevant parties.
Conclusion: GUST is committed to sustainable fundraising practices that contribute to the long-term success of the institution while aligning with principles of environmental, social, and governance responsibility.
