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 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?
• Who governs the Foundation?
• 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?

Q: What is the CU Foundation?

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.  The Foundation’s staff works 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 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 Colorado is a public university, why does it need private gifts?

A: The State of Colorado provides less than 10% 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 that are the hallmark of CU.

Q: How is my gift spent?

A: The goal of the CU Foundation is to maximize the value delivered to the University.  By reducing administrative expenses wherever possible and optimizing organizational efficiencies, the Foundation is able to transfer to the University millions of dollars each year.  Each gift received by the Foundation - regardless of the purpose or amount - is carefully processed to ensure that the donor’s wishes are honored and that the University receives the maximum benefit.

Q: Is my gift tax deductible?

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.  You should consult with your tax attorney/advisor concerning the deductibility of your gift.

Q: Who decides the fund-raising priorities?

A:   After consulting with campus leaders, the Board of Regents, and the Foundation’s Board of Directors and Trustees, CU’s president and campus leadership determine which proposed initiatives and projects become fund-raising 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’s leadership with the most flexibility in responding to the needs of the institution by investing in strategic initiatives, a donor may designate a gift to a particular campus, college/school, department, or even to a particular fund.  Regardless of the purpose, every gift makes a difference to CU’s future.

Q: Who governs the Foundation?

A:   An unpaid, volunteer Board of Directors governs the Foundation.  The Foundation’s Board of Trustees elects the directors and officers.  The directors, in turn, appoint the Foundation’s president and chief executive officer who has the responsibility for hiring and managing the professional staff.  The CU president and a member of the University’s Board of Regents serve as ex-officio, non-voting members of the Foundation’s Board of Directors.  Each campus chancellor is an ex-officio, non-voting member of the Board of Trustees.

Q: How is the Foundation funded?

A:  The Foundation is funded through a combination of mechanisms including, but not limited to, an investments management fee, as well as through development service (i.e., fund-raising) contracts with each of the campuses.

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 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, unless they give 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 in its entirety 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 thorough and timely manner.