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Frequently Asked Questions
UNI Foundation Facts
Q. What is the UNI Foundation?
A. The University of Northern Iowa Foundation is a 501(c)3 organization
established in 1959 for the sole benefit of the University of Northern Iowa.
The mission of the UNI Foundation is to sustain, grow and promote the University of Northern Iowa to be the nation's finest
comprehensive university, known for high quality learning environments and a
genuine sense of community.
Q. Why is the Foundation separate from the University of Northern Iowa?
A. The UNI Foundation is a nonprofit, 501(c)3 organization, separate
from the University. About 80% of public colleges and universities have such
foundations and this arrangement offers several advantages:
- Confidentiality. By law, the Foundation
is able to keep confidential gift records, wills, trust agreements,
correspondence, and other personal documents related to gifts.
- Security. Funds given to the
UNI Foundation for designated purposes can only be used for those
purposes. The small amount of funds given as undesignated gifts can be
used only for purposes designated by the Foundation's Board of Trustees.
No other agency, including the State, can designate how these funds will
be used.
- Return on investment. State
statutes limit how state institutions can invest their funds. The
Foundation, subject to different, but equally stringent, rules and
regulations, can realize a significantly higher return on the endowment.
- Flexibility. Gift funds can
also be used for purposes that State monies cannot, for example, to create
new faculty positions at times when State funds for positions are frozen.
Q. Who governs the Foundation?
A. The Foundation is governed by a Board of Trustees of which the University of Northern Iowa president is a voting member.
A list of Foundation Trustees is available at: foundation/trustees.
Q. What services does the Foundation provide for UNI?
A. The University of Northern Iowa Foundation is designated as the central
fundraising agency for the University
of Northern Iowa. The
Foundation conducts campaigns for University priorities and provides central
services to support fundraising, growth of the endowment, administration,
compliance, donor stewardship, and other areas. Services include:
- Nurturing relationships with
donors and prospective donors. This involves acquainting them with the
University's programs and informing them of its needs.
- Assisting donors in making
planned gifts.
- Investing endowment funds
given to support scholarships and programs.
- Providing administrative
services for more than 2000 gift accounts.
- Maintaining the central gift
records service for 59,087 constituents.
- Administering more than 800
scholarships and award accounts for the benefit of UNI students.
Q. How does the Foundation invest the gifts it receives?
A. The Foundation's Trustees and staff are deeply committed to providing
excellent stewardship of gifts the Foundation receives. The Trustees'
Investment Committee confers monthly with our investment counselor to review
the performance of our funds. Thanks to this careful oversight, the
Foundation's investment funds have regularly outperformed the market norms.
Q. How much does the Foundation spend to raise and manage its
money?
A. The UNI Foundation spends less than ten cents to raise and manage
each dollar, an amount at the lower end of national norms. This figure includes
not only fund-raising costs but also the costs of accounting, record-keeping
and reporting to donors.
Q. Can the public see these costs?
A. As a private, non-profit organization, the UNI Foundation completes
and makes public its tax return, Form 990. It is available to view at www.guidestar.org. This form breaks out the
Foundation's revenues and expenses, which include salaries, accounting and legal
fees, supplies, telephone, postage, publications, professional services and
equipment. In addition, although it is not legally obliged to do so, the
Foundation makes public its annual audited financial statement.
Q. Does the Foundation make grants?
A. The Foundation is a fund-raising rather than a fund-granting
institution. About 95% of the gifts it receives have been designated by donors
for specific purposes and are restricted for these purposes. From the small
pool of unrestricted gifts it receives, the Foundation allocates funds to the
University for areas of greatest need.
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