Foundation Q & A
- What is the CU Foundation?
- Why is the Foundation separate from the University?
- If the University of Colorado is a public university, why are private gifts needed?
- How is my gift spent?
- How efficient is the CU Foundation?
- Is my gift tax-deductible?
- Who decides the fundraising priorities?
- Can I designate my gift for a particular purpose?
- Who governs the Foundation?
- Who serves on the Board of Trustees?
- Who manages the Foundation’s endowment?
- How is the Foundation funded?
- Does the Foundation make grants?
- What kind of information is available to the public and media?
- How can I obtain additional information?
A: Established in 1967, the University of Colorado Foundation (the CU Foundation) is an independent, privately governed nonprofit corporation whose mission is to support the University of Colorado. Foundation staff are located on all of the CU campuses, in the central offices in Boulder and in the university president’s office.
Q: Why is the Foundation separate from the University?
A: Having an independent, nonprofit foundation results in greater fundraising 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 Colorado is a public university, why does it need private gifts?
A: The State of Colorado provides about 8 percent of the University’s operating budget, down from 25 percent in 1990. Private gifts are an important revenue source that allows 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 that are the hallmark of CU.
A: Each gift received by the Foundation—regardless of purpose or amount–is carefully processed to ensure that the donor’s wishes are honored and that the University receives the maximum benefit.
Q: How efficient is the CU Foundation?
A: The Foundation is focused on reducing administrative expenses and optimizing organizational efficiencies to maximize the amount of money the foundation transfers to the University each year.
A: The CU Foundation is a registered 501(c)(3) charitable organization. All gifts to the Foundation are tax-deductible to the fullest extent of the law, but circumstances vary depending on each donor’s individual financial situation. You should consult with your tax attorney/advisor concerning the deductibility of your gift.
Q: Who decides the fundraising priorities?
A: CU’s campus leadership determine which proposed initiatives and projects become fundraising priorities in consultation with the university president, the Board of Regents, and the Foundation’s Board of Directors and Trustees. Foundation staff then develop a plan and strategies to seek funding for the priorities.
Q: Can I designate my gift for a particular purpose?
A: Yes: A donor may designate a gift to a particular campus, college/school, department, or even to a particular fund supporting an existing CU initiative. Although discretionary gifts provide the University’s leadership with the most flexibility in responding to the needs of the institution, every gift makes a difference to CU’s future.
Q: Who governs the Foundation?
A: A volunteer Board of Directors has fiduciary oversight, elects the officers of the Foundation and appoints the chief executive officer. A larger Board of Trustees serves as advocates for the University and elects the members of the Board of Directors. The CU president, a representative of the University’s Board of Regents, and another university designee serve as non-voting members of the Foundation’s Board of Directors.
Q: Who serves on the Board of Trustees?
A: The membership of the Board of Trustees is drawn from a broad spectrum of state and national business and community leaders who share a commitment to the University of Colorado.
Q: Who manages the Foundation’s endowment?
A: A volunteer Investment Policy Committee provides fiduciary oversight and determines investment policy. The Foundation’s Chief Investment Officer and portfolio management staff are responsible for managing the portfolio on a day-to-day basis.
Q: How is the Foundation funded?
A: The Foundation is funded through a combination of mechanisms including: a fee on endowments, a development service contract with the university, and interest on account balances.
Q: Does the Foundation make grants?
A: The Foundation’s mission is to support the University of Colorado. Therefore, the Foundation does not make grants to other organizations or to individuals.
Q: What kind of information is available to the public and media?
A: The CU Foundation goes above and beyond state and federal requirements by providing to the public audited financials, summaries of investment activities, annual reports and the IRS Form 990. Documents related to financial expenditures by the Foundation, which benefit the University, are also considered public records under the Colorado Open Records Act. The Foundation does not disclose private information regarding donors or potential donors without their written permission. Further details are outlined in the Foundation’s Public Information Disclosure Policy and Public Records Policy and Procedure.
Q: How can I obtain additional information?
A: If you have reviewed this web site and cannot find the information you need, please contact us by calling 303-541-1200. We will do our best to answer your question(s) in a timely manner.
