- Mission Statement
- Public Giving for a Great State University
- Foundation Governance
- Advantages of a Foundation
- Independence is Important
- How the Foundation Directs Gifts
- Ethical Standards
- Standing Committees
- Tax Status
- Foundation Board Members
The UNCP Foundation, Inc. is an independent, nonprofit corporation chartered in 1968 for the purpose of seeking, accepting, and administering the full range of private contributions for The University of North Carolina at Pembroke. The mission of the Foundation is to build positive working relationships between UNC Pembroke and the communities it serves; give leadership to the development of resources for programs not funded or partially funded by the State; approve programs to be funded from identified resources; promote the welfare and future development of UNCP; supervise the administration of such funds; and provide a formal mechanism for identifying and utilizing volunteers to realize these stated goals.
The aim of the Foundation is to link the community and the professional and business worlds with the academic needs of UNCP. The Foundation seeks, receives, manages, and distributes restricted and unrestricted gifts as well as endowed, deferred, and special gifts. A fundamental goal is to identify sources of unrestricted funds, which can be applied to the areas of greatest need on the campus.
The State of North Carolina guarantees that public universities provide a basic level of education to the students they serve. Due to the increasing costs of higher education, UNCP is experiencing a growing need for outside support in order to offer the best faculty, research facilities, and service to its students and community. Adequate endowment funds will secure the competitive advantage of UNCP in the global field of education. Annual investments help to bridge the gap between State support and the level of excellence to which the University aspires.
The support of private benefactors has been instrumental in continuing a tradition of academic and scholarly excellence. It contributes to the University’s rich heritage, and enhances the immediate and larger region it serves as well as the lives of all those who come in contact with it.
The UNCP Foundation, Inc. is governed by a Board of Directors consisting of UNCP alumni and friends who share in the pride of the University’s history and who are committed to its promise in the years to come.
In order to build a greater UNC Pembroke, the Foundation seeks financial support through annual gifts, capital campaigns, planned or deferred gifts and other ongoing fundraising programs.
It is the responsibility of the Foundation’s Directors to manage and disburse assets prudently within a policy that encourages the enhancement of the resources of the Foundation.
The Board has the fiduciary responsibility of managing the activities and affairs of the Foundation, subject to accepted business practices. There are three categories of membership on the Board of Directors:
- Public Directors are nominated by the Membership Development Committee and are elected by the full Foundation Board of Directors.
- Nonpublic Directors serve with a vote and include the Chancellor, President of the Alumni Association and representatives of the University Board of Trustees, Endowment Fund Board and University faculty.
- Ex-Officio Directors serve by virtue of their position at the University. They are the Vice Chancellor of Business Affairs who serves as Treasurer and the Vice Chancellor for Development and University Relations who serves as the Executive Director.
All categories of membership have a vote with the exception of Ex-Officio Directors.
The UNCP Foundation, Inc. provides the following advantages:
- It is a private, nonprofit organization that exists only for the benefit of UNCP. The nonrestrictive environment and political neutrality it provides allow it to operate in an efficient and effective manner.
- It seeks and promotes partnerships between the private and public sectors to raise and manage funds that are not available from the State.
- By using many available resources, the Foundation is able to allocate unrestricted funds to the highest priority needs of the University.
- It oversees the disbursal of restricted funds, assuring the donor the purpose for which such funds were donated will be respected.
- As an independent governing board, it manages funds and disburses earnings in much the same way as the trust department of a bank.
- It serves as the "bank" for other UNCP fundraising organizations: Alumni Association, Braves Club, Friends of GPAC, Friends of the Library and University Music Society among others.
The operation of the UNCP Foundation, Inc. as an entity independent from the University is important because:
- It can manage and control private fund accounts from one fiscal year to the next.
- As a private organization, it can accept and sell property more expeditiously than the State.
- Donor confidentiality, if requested, can be more effectively maintained.
- Its independence allows flexibility in short-term investment options intended for near-term expenditures and in determining investment opportunities for endowment assets.
- Long-term perspective on the needs and priorities of the University can be more effectively maintained by the Foundation as a private, independent organization.
- An independent Board of Directors with its own operating committees can more effectively recruit and organize volunteers to participate in fundraising.
The Foundation was established in order to serve as the University’s primary recipient of private gifts. The Foundation has the mechanisms in place to administer gifts and gift income in the manner required by both the University and the donor. Although some gifts are unrestricted, many are restricted by donors to specific areas or programs of the University.
Gifts of cash, equipment, negotiable securities, real property and deferred monies may be used to support endowed professorships, endowed chairs, scholarships, awards and other educational and public service programs.
In addition to immediate gifts of cash and property, the Foundation also accepts gifts of a deferred nature. They provide an excellent investment for the future benefit of UNCP. Benefactors find this to be an advantageous method for estate planning, increasing income, obtaining investment diversification, and reducing income and estate taxes.
There are several ways of making deferred gifts:
- By making a bequest, the donor indicates in his/her will that a certain dollar amount or percentage of the donor’s estate will be left to the Foundation.
- By deeding real estate, the donor retains a life interest in the property, thereby providing benefits to the donor during his/her lifetime.
- By establishing a charitable remainder trust, which is a flexible option that can receive additional transfers of cash or property, the donor can provide a lifetime income to the donor or to another non-charitable beneficiary while leaving the remainder to the Foundation.
- With any of these options, the donor may specify how the funds so donated should be used within the general guidelines of the University.
The successful partnership between UNCP and the UNCP Foundation, Inc. is based on effective service, trust and accountability. The operations of the Foundation are open to scrutiny. The Foundation Board of Directors is sensitive to considerations of public trust and confidence.
The Foundation has assets and donor records relating to gifts it has received or will receive. It provides confidentiality to donors through stringent restrictions on what kinds of information is recorded and who is able to access that information.
The Foundation’s most evident ethical standards are:
- to serve the philanthropic concerns of UNCP without conflict of interest, by:
- executing a donor’s wishes without special favor to the donor and without compromise to the University;
- being governed by a volunteer board which works in conjunction with state supported staff;
- preventing any personal gain by directors that could result from the investment of funds;
- using the services of independent, professional investment managers.
- to secure the trust, confidence and credibility of donors by safeguarding confidential records and remaining sensitive to the privacy of individuals;
- to provide for freedom of information and public scrutiny without intruding on an individual donor’s rights.
Acts with such authority as the Board of Directors delegates to it when the Board is not in session or in the absence of a quorum of Board members.
Evaluates policies and performance of the investment managers employed by the Foundation. Submits those findings to the full Board. Assists and advises in any other matters assigned to it by the Chair or the Board.
Resource Development Committee
Identifies and evaluates prospective donors and assists in cultivating and recognizing current donors. Solicits gifts on behalf of the Foundation.
Membership Development Committee
Develops criteria for Board membership. Assists in identifying potential nominees. Maintains an updated pool of potential candidates. Monitors Board member performance. Presents the slate of officers for election each year. Collects and maintains biographical background on candidates and nominees. Develops, maintains, and conducts ongoing Board member education.
Develops, reviews and updates criteria for the dispersal of unrestricted funds. Assembles and reviews all requests for support and makes recommendations to the Board for appropriate action.
Recommends changes to the by-laws to reflect the current status of the Foundation mission and operations.
Reviews results of the independent auditor’s report. Recommends action based on the findings.
The UNCP Foundation, Inc. is a qualified charitable organization under sec. 501(c)(3), 509(a)(1) and 170(b)(1)(A)(vi) of the IRS Code. It is an active not-for-profit NC Corporation certified by the Secretary of NC under the laws of the State of NC as in Chapter 55A of the GS of NC and the several amendments thereto. Contributions to the University through the Foundation qualify as tax deductions as provided under current tax law.