McNeese State University Foundation
Date Enacted or Revised: August 8, 2011
The McNeese State University Foundation, a 501(C)(3) nonprofit corporation that is separate and independent of McNeese, is responsible for raising, managing, distributing and stewarding private resources to advance and promote the University’s mission. Contributions made to the McNeese Foundation support endowed and in/out scholarships, professorships and chairs, and ancillary programs. The Foundation is governed by an external board of directors composed of business, industry and community leaders. Beneficiaries of the McNeese Foundation include students, faculty and staff, and alumni and community members.
The purpose of this policy is to specify the roles and responsibilities of the McNeese Foundation, including the following:
- To maintain constant communication with the University President or his designee for the purpose of understanding and adhering to the strategic plans and priorities of McNeese.
- To raise private dollars for enhancing academic programs, constructing and improving facilities, providing scholarships (endowed and in/out), promoting athletics, building alumni relations and advancing other programs that assist McNeese in achieving its mission.
- To identify, cultivate and solicit relationships with potential donors and to steward relationships with current donors.
- To conduct annual giving, major gifts, planned gifts, special projects and other campaigns, as appropriate.
- To remain accountable to the donors that support McNeese, its mission, institutional goals and core values and to act in accordance with donor intent.
- To comply with the affiliation agreement, state law, and Federal Internal Revenue Service regulations for 501(C)(3) corporations.
- To act in accordance with an independent board of directors, elected by contributing members, who are responsible for the control and management of Foundation operations. [University employees are forbidden from serving as board members.]
- To enter into a cooperative endeavor agreement anytime funds or property of the University is donated, loaned, or pledged to any affiliated organization as part of a joint project. The cooperative endeavor agreement must be in accordance with state laws and regulations and/or approved by the ULS Board of Supervisors and the Division of Administration as required.
- To coordinate with the University Advancement staff for accounting, management, database and marketing functions related to the Foundation.
- To conduct an annual, independent audit and to abide by generally accepted accounting principles.
- To maintain and conduct periodic review of asset investment policies that adheres to applicable federal and state laws, including the Uniform Prudent Investor Act.
The McNeese Foundation defines a gift as a voluntary and irrevocable transfer of money, services or property from a donor with no or limited specified conditions. Gifts have some or all of the following characteristics:
- Donor refers to the transfer of funds as a gift, donation or contribution and intends it to be a charitable gift as reflected by the absence of any quid pro quo.
- The gift is from a non-governmental source and is given for such activities as endowments, capital projects, scholarships or other general operations of the University or Foundation.
- The gift has few terms beyond specifying general intent. Any conditions or stipulations placed on the use of the gift are reasonable and serve only to direct the gift to support the donor’s desired area of interest.
- The gift is irrevocable and, therefore, the donor relinquishes the rights to reclaim the gift or any unused portion.
- No financial, technical or progress reports are required regarding expenditure of the gift. However, courtesy, non-technical reports may be supplied.
- The donor makes the award to the University or Foundation without expectation of direct economic or other tangible benefit commensurate with the value of the gift. Indirect benefits such as tax advantages, business or personal goodwill, and benefits derived from donor club status are of an immaterial nature and not sufficient to negate the gift intent.
The Executive Vice President of the McNeese Foundation serves at the pleasure of its board of directors and controls all fundraising activities, activities that are intended to further the University’s mission.
The relationship of between the McNeese Foundation and the University and the extent of any liability arising out of that relationship is clearly described in a formal, written manner through the document, “Affiliation Agreement between McNeese State University and the McNeese State University Foundation.”
In limited cases and for internal purposes only, external funds may be counted as both a grant by the Office of Research Services and Sponsored Programs and as a gift by the McNeese Foundation.
This policy is distributed via Academic Advisory Council, Senior Staff, and the University Policy page.