FundSvcs Community

Expand all | Collapse all

Wife Swapping

  • 1.  Wife Swapping

    Posted 13 days ago
    So, something like this happened today: 
    An endowed fund donor calls and asks us to change the name of his fund from 
    The Bob and Sally Smith endowment
    to 
    The Bob and Jessica Smith endowment

    Bob and Sally both signed the original agreement.
    Funding came from Sally's mother's estate.
    Sally is now deceased. 
    Bob is the only party who receives reports and updates on the fund.
    Jessica is the current wife
    Would any of you have reservations about updating the name of the fund, per Bob's request?

    Thanks
    Susan Quinn, Lenoir-Rhyne University

    ------------------------------
    Susan Quinn
    Executive Director of Advancement Services
    Lenoir-Rhyne University
    Susan.quinn@lr.edu
    ------------------------------


  • 2.  RE: Wife Swapping

    Posted 13 days ago

    I nominate this for the best listserv SUBJECT LINE of the year! J

     

    Carol Nash (she/her/hers)

    Advancement Coordinator and Database Manager

    The Awty International School

    7455 Awty School Lane  |  Houston, Texas 77055

    Direct: 713-328-5861  |  www.awty.org

     

    image010.jpg@01D43F65.033811C0

     

    Houston's Premier International School

     

     

     






  • 3.  RE: Wife Swapping

    Posted 13 days ago
    And here I thought you were going to ask about creating a new relationship type :-).

    First, I would ensure that whatever you do is allowed in your naming/unnaming policy or as stipulated in the endowment agreement.

    Then, I would communicate with the heirs of Sally and her mother's estate.  They are the legal representatives, and I'd not touch or alter a legal document executed by Sally without their permission.

    I know of at least one instance where a midwestern University was sued for doing something along the same lines without similar approvals.  Granted, the naming, in that case, applied to a facility - not an endowment.  But still, if Sally executed the endowment agreement, I'd need her family representative (other than Bob) to agree to the name change.  As you mentioned, it was Sally's side of the family that funded the endowment.  Removing her name could make quite a few people mad.

    Here's a better idea:  Get Bob and Jessica to establish a new endowment with new money with a new name!

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987






  • 4.  RE: Wife Swapping

    Posted 13 days ago

    Carol, you beat me to it!

     

    Wholeheartedly support this nomination.

     

    signature_57558027

    Elina Gorelik

    Associate Vice Chancellor for Advancement Operations

    205 East 42nd Street, New York, NY 10017

    Tel (646) 664-3002 | Fax (646) 664-2965