| Frequently
Asked Questions (FAQs)
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Donor
Bill of Rights | UNI
Foundation Facts | UNI Foundation
Fundraising
Types of gifts |
Methods of making a gift | Stewardship
of your gift to the UNI Foundation | Tax and Legal Information
Iowa Supreme Court Ruling on University-affiliated
Foundation Records
Stewardship of your gift to the UNI Foundation
Q. What does the Foundation do with the gifts it receives?
A. The UNI Foundation directs your gifts exactly for the purpose
you specify. Foundation staff works closely with donors and with University
administrators to assure the highest standards of integrity in investing
and spending these funds. About 95% of the funds we receive are "restricted"
gifts, that is, gifts designated by donors for specific purposes. The
Foundation deposits 100% of each restricted gift into one of the appropriate
2,000 accounts in the Foundation. The designation is confirmed on the
thank you and receipt sent to the donor. From the small pool of unrestricted
gifts the Foundation receives, it allocates funds to the University for
areas of greatest need.
Q. How does the Foundation make sure that the funds it
receives are spent for the purposes intended by donors?
A. The Foundation's accounting office carefully monitors expenditures
made directly from UNI Foundation accounts. The Foundation only transfers
funds to the University for the purposes specified by the donor, and the
University's business office then monitors the expenditure of these funds.
An independent audit by a certified public accounting firm is done each
year in accordance with U.S. generally accepted auditing standards.
Q. How are student scholarship recipients chosen?
A. Scholarship recipients are chosen by faculty, department heads,
deans, financial aid officers, or a combination of these. Scholarship
recipients are selected according to the scholarship guidelines written,
in consultation with each donor, at the time the scholarship was established.
The UNI Foundation administers the funds for scholarships supported by
private gifts.
(The University of Northern Iowa also receives financial
aid funds from federal, state, and university sources. These funds are
managed by the university's financial aid office.)
Q. What information does the UNI Foundation provide about
its operations?
A. The Foundation is committed to retaining both the public and
the private trust. The Foundation openly discloses information about its
policies and activities, its financial statements, and other information
to further understanding of its mission and operations. The following
items are available to the public:
- Financial audit, conducted by Carney, Alexander, Marold
& Company
- Annual report
- Operating budget
- Investment policies, expenditure guidelines, and quarterly
performance reports
- Agreement between University of Northern Iowa, the UNI
Foundation, and the UNI Alumni Association
- Policies regarding the establishment of fundraising
priorities
- Copy of IRS Letter of Determination
- Tax form 990, available at http://www.guidestar.org
- List
of Foundation Trustees and Officers
Copies of these items are available during regular business
hours at the UNI Foundation Office, 205 Commons, University of Northern
Iowa, Cedar Falls, Iowa 50613.
Q. How is the
Foundation funded?
A. The UNI Foundation's fundraising and fund managing expenses
are offset in several ways. The Foundation's operational costs are covered
by income sources that include university reimbursements for salaries
and related support services for Foundation development officers who focus
their efforts on individual UNI colleges and other units; a percentage
of earnings on invested gifts; and gifts designated specifically to support
the Foundation's operations.
You can be assured that, if you designate your gift
for a specific UNI program or purpose, it will be used solely for that
purpose.
Q. Who audits the Foundation's books?
A. A certified public accounting firm annually audits the UNI Foundation.
Copies of its audited financial statement (990pf ) can be found at http://www.guidestar.org.
Q. What is the Foundation's Tax Identification number?
A. The Tax Identification Number for the Foundation is: 42-6058591 |
