Foundation Questions and Answers
Q: What is the UNC Foundation?
A: Established in 1966, 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. We do different things: The University focuses on transforming students’ lives through teaching and research. We provide the stewardship to assure donors and the University that gifts are well managed.
Q. The University of Northern Colorado is a state school, a public institution. Why does it need private gifts?
A. Only about 16 percent of the University’s operating budget comes from the state government budget. Private gifts allow the University to bridge the gap between tuition and what students can afford, as well as to attract and retain fine faculty who are dedicated to educating tomorrow’s leaders.
Q. How is my gift spent?
A. If you have designated a purpose for your gift, such as a scholarship or program, that is where your money is spent. If you have not indicated a purpose, the gift will be spent on the area of greatest need. Given the recent weak economy and the tight squeeze on higher education, you can be sure that every gift makes a difference to UNC.
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 a particular fund. See “make a gift now” for a list of giving opportunities.
Q: Who decides the fundraising priorities?
A: UNC’s president and campus leadership determine which proposed initiatives and projects become fundraising priorities.
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 full extent of the law. You should consult with your tax attorney/advisor concerning the deductibility of your gift.
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. A new endowment can be established with a minimum gift of $25,000.
Q: How do I establish a scholarship?
A: Gifts that fund scholarships 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 any amount 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 a volunteer Board of Directors. The Board appoints a President to manage the day to day operations of the Foundation and its staff.
Q: How is the Foundation funded?
A: The Foundation is funded in a variety of ways including, but not limited to, investment income, board designated endowments and gift reinvestment fees.
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 firstname.lastname@example.org. We will do our best to answer your question(s) in a thorough and timely manner.