NMU's Compliance Database - Northern Michigan University
Philanthropy Protection Act of 1995
| Reviewed By | Internal Auditor Owner |
| Regulation Reference Cite | Public Law No. 104-62 |
| Report Due Date (Actual) | N/A |
| Level | Requirement |
| Oversight Unit | NMU FOUNDATION |
| Person Responsible | Andrew Hill |
| Secondary Person Responsible | |
| President / VP Level | President |
| Description |
Requires the university to provide a disclosure statement to all annuitants in a Gift Annuity Fund and also to provide the same to all prospective donors at the time of solicitation, using a letter or pamphlet format. Prohibits the payment of commissions or remuneration to anyone based on the value of a charitable gift annuity given to a public charity. |
| Contacts and Data Sources |
| TBD |