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Policy Statement
Significant gifts to support the Society of Gynecologic Surgeons (SGS) offer opportunities to recognize donors, which may include the creation of named endowment funds to support the mission of SGS. 

Reason for Policy / Purpose

  • Provide the opportunity to appropriately recognize donors for their significant gifts in support of SGS.
  • Promote long-term fiscal stability for SGS.
  • Ensure donor satisfaction that newly established endowments support the stated, desired purpose.
  • Provide transparency and guidance to donors about the desired gift amounts for naming opportunities.

Policy
By setting minimum gift levels for a unique endowed fund to be established, SGS ensures that sufficient annual payout from the endowed fund will be available to support the designated purpose.  As a result, only the annual payout from the endowed fund may be expended for the designated purposes, at a rate set by the SGS Finance Committee and approved by the Executive Board.  The SGS will manage the endowed fund in accordance with its standing policies and procedures, which may be modified periodically.

Minimum Gift Levels for Unique Endowed Funds
An endowed Lecture Series at SGS must have a minimum funding level of $50,000 for a 10-year term of endowment and minimum funding of $100,000 for a 20-year term of endowment.  One-half of the funding must be received within one year of approval of the endowed lecture series.  The remaining amount is due by the end of the second-year post approval.  If the entire corpus is not received within two years, the Board of Directors may consider an extension of one year or may redirect the funds that have been received to alternative purposes within the mission of the SGS to be determined by the Board of Directors of SGS.

Sources of Endowment
Fundraising for an endowment is permissible prior to formal approval by the Board of Directors and Active Membership.  However, an endowment will not be announced as established prior to its approval by the Board of Directors and Active Members, and minimum-funding level is attained.  SGS will not participate in raising the funds.

Approval of Endowment
An endowed lecture may be proposed to SGS by an external entity or an SGS member who wishes to fund or lead a campaign to fund the lecture.  Donors who approach SGS shall work with the SGS Board of Directors and/or Fund Development Committee to consult on the creation of the proposal, including the naming of the endowment.  The proposal must include the stipulation that the SGS Board of Directors shall maintain control of selecting the speaker and topic.  At the completion of the approved proposal it will be submitted to the SGS Active Membership for full approval.

  • The SGS Board of Directors agrees to support travel and registration for the named person for the first year that the lecture series is officially established.
  • The named person has the option to suggest speakers for the lecture series.  The final decision is made by the SGS board of Directors.
  • The lecture will be included in the current programming format of the SGS Annual Scientific Meeting.
  • The SGS Scientific Meeting Program will include a two-page announcement of the endowed fund acknowledging the donors/sponsors, the first year that the lecture series is included in the SGS scientific program.

If at any time SGS determines that the named person's activities reflect negatively on SGS's public image, or are in material conflict with its mission, SGS will have the right to remove such person's name from an endowment fund.  The fund, however, will remain an asset of SGS and will continue to be used for the designated purposes in accordance with the provisions of this Policy Statement.

Disestablishment of Endowed Lectures
Upon recommendation by the Board of Directors, the President is authorized to disestablish an endowed lecture series prior to the end of the stated term if the endowed lecture ceases to be consistent with the SGS mission.  Upon disestablishment of an endowed lecture series any remaining funds from the endowment shall be redirected to alternative purposes within the mission of the SGS to be determined by the Board of Directors of SGS.  Remaining funds would not be returned.  SGS shall make every effort to consult with the donors prior to disestablishment of the lecture.

At the end of the term of an endowed lecture series of 10 or 20 years, any remaining funds from the endowment shall be redirected to alternative purposes within the mission of the SGS as recommended by the SGS Board of Directors.

Approved 111918