Foundation Questions and Answers
What is the UNC Foundation?
Why is the Foundation separate from the university?
If the University of Northern Colorado is a public university, why does it need private gifts?
How is my gift spent?
Is my gift tax deductible?
Who decides the fund-raising priorities?
Can I designate my gift for a particular purpose?
What is an endowment?
How do I establish a scholarship?
Who governs the Foundation?
How is the Foundation funded?
How can I obtain additional information?
Q: What is the UNC Foundation?
A: Established in 1967, the University of Northern Colorado Foundation (the UNC Foundation) is an independent, privately governed nonprofit corporation whose mission is to support the University of Northern Colorado.
Q: Why is the Foundation separate from the university?
A: Having an independent, nonprofit foundation results in greater fund-raising efficiencies and benefits for the university by assuring proper stewardship of private gifts; providing flexibility and responsiveness; managing assets strategically; engaging volunteers as informed advocates; and ensuring confidentiality of donor records.
Q: If the University of Northern Colorado is a public university, why does it need private gifts?
A: The State of Colorado provides less than 10 percent of the university’s operating budget. Private gifts allow the university to attract and retain the best and brightest faculty, provide scholarships, build first-class facilities, and continue the quality education and research programs.
Q: How is my gift spent?
A: The goal of the UNC Foundation help the university provide the best possible educational experience for students. By reducing administrative expenses wherever possible and optimizing organizational efficiencies, the Foundation provides the university with millions of dollars each year to support scholarships and programs. Each gift received by the Foundation, regardless of the purpose or amount, makes a difference at UNC.
Q: Is my gift tax deductible?
A: The UNC Foundation is a registered 501(c)(3) charitable organization. All gifts to the Foundation are tax deductible to the fullest extent of the law. You should consult with your tax attorney/advisor concerning the deductibility of your gift.
Q: Who decides the fundraising priorities?
A: The Foundation’s Board of Directors, UNC’s president and campus leadership determine which proposed initiatives and projects become fundraising priorities. The Foundation then develops a plan to achieve them.
Q: Can I designate my gift for a particular purpose?
A: Yes. Although discretionary (i.e., unrestricted) gifts provide the university with the most flexibility in responding to the needs of the institution, donors can designate a gift to a particular college/school, department, or even to a particular fund.
Q: What is an endowment?
A: Endowments are often referred to as the gifts that keep on giving. Endowments are permanently invested by the University of Northern Colorado Foundation, and the income generated by that investment is used for the purpose you wish to support—scholarships, supplemental salary support for faculty, research, libraries, programs, and much more. A portion of the income is reinvested each year, enabling the endowment to grow and provide a permanent stream of income over time.
Q: How do I establish a scholarship?
A: Gifts that fund scholarship endowments make it possible for UNC to attract and retain the best undergraduate and graduate students, regardless of their financial circumstances. You can make a difference, by contributing to an existing scholarship or establishing a new endowment to benefit students enrolled in the college/school of your choice.
Q: Who governs the Foundation?
A: The University of Northern Colorado Foundation is governed by volunteer Board of Directors. The Board appoints the Foundation’s president and chief executive officer who manages the professional staff of the Foundation and Alumni Association.
Q: How is the Foundation funded?
A: The Foundation is funded through a combination of mechanisms including, but not limited to, investment income an fundraising service contract with the university.
Q: How can I obtain additional information?
A: If you have reviewed this web site in its entirety and cannot find the information you need, please contact us at 800.568.5213, 970.351.2034 or foundation@uncalumni.org. We will do our best to answer your question(s) in a thorough and timely manner.
