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Establishing a Fund

How do I establish a fund at the IUC Foundation to benefit a specific area at the IUC?

Establishing a fund to benefit the university is easy with the help of Foundation members. When you establish a fund and make your gift, a Foundation development officer works closely with you to ensure your preferences for the fund are met.

The Foundation has professionals that represent the two colleges, programs and regions. These professionals have experience in planned giving and corporate and foundation giving. Our Team Leader for Corporate and Foundation Giving, Mr. Elon Beckford has over 35 year in the banking, business and donor support sectors.

Discussing your options: The development officer to whom you are directed will explain all the details necessary to establish your fund. The discussion may include determining whether your gift will be restricted (you designate what you want the gift to benefit) or unrestricted (designation is not specified by the donor) as well as whether you want your gift endowed (invested with the net income used by the University, providing long-term support for the University) or expendable (used immediately by the University) and defining the criteria necessary to ensure your gift is used as you wish. When appropriate, Foundation legal or financial professionals may be included in these discussions.

Drafting the fund agreement

The development officer will guide the preparation of a draft fund agreement for you and your advisor's review. This document is developed to aid discussion and to ensure that all elements of your gift and your wishes are understood and included. It outlines the details of your gift. Every fund at the Foundation will have an individual contract guiding the distribution of its benefits to the University.

Approving the fund agreement / making the gift: Once you and your advisors have fully reviewed and agreed upon the draft fund agreement, a final fund agreement will be prepared and provided to you for your approval and signature. Your gift will be received and administered by the Foundation as outlined in the agreement. Your wishes regarding appropriate recognition, publicity and/or anonymity will be respected, and the development officer will work closely with you in carrying out those details.

Can I contribute to existing funds?

Will information about my plans be made public?
Your inquiries and plans are always kept confidential. Gifts are publicized only with your approval.

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