FAQs - WSU Foundation Profile
- Why is private support important?
Who are we?
The Wichita State University Foundation (Foundation) was formed in 1965 as the fundraising arm for the Wichita State University (university). The Foundation is a separate 501c3 nonprofit corporation chartered by the state of Kansas. Any gifts supporting Wichita State University come through the WSU Foundation and are used according to the donor’s wishes. The gifts are tax deductible to the full extent as governed Section 170b of the IRS code. Learn more about our mission and core values (Philosophy).
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Why is private support important?
WSU is a state-assisted public university with 48.8 percent support from the state and the remainder comes from these sources: tuition, auxiliary services, grants and contracts, and private philanthropic support given through the WSU Foundation. Private support becomes more critical each year.
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What happens once a gift is contributed to the WSU Foundation?
The gift will be placed in an existing fund or a new fund will be created, depending upon the donor’s designation. One type of fund is called current, one that can be spent entirely. The other type of fund is an endowed fund, which is invested so it will last for perpetuity and only a portion of the earnings are distributed annually.
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How are WSU Foundation’s fundraising priorities determined?
Each college is assigned a development staff member who discusses the potential priorities with the assigned college dean. Each dean presents his/her priorities to the Foundation’s president & CEO and vice president for major gifts. Next, the Foundation’s president & CEO meets with the WSU provost to determine which priorities will be emphasized during the coming year, as we seek private support (Academic Priorities).
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Are any fees assessed on the gift?
The only fees assessed on gifts received are: estate gifts (2 percent to 5 percent) and on capital building and equipment campaign gifts (5 percent). No other contributions are assessed any initial fees. Annually, endowed funds are assessed an administrative fee.
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Who governs the WSU Foundation?
A volunteer board of directors governs the Foundation. Currentl,y we have a 17-member board (Board of Directors) that meets quarterly and they are elected and authorized to act on the National Advisory Committee’s (NAC) behalf. The NAC is made up of roughly 100 members (National Advisory Committee).
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How does the WSU Foundation differ from the WSU Alumni Association?
Both the WSU Foundation and the WSU Alumni Association are separate 501c3 nonprofit corporations and both exist to serve the university. The focus of the Foundation is to support the educational endeavors of Wichita State University and all related or beneficial activities. (Mission Statement) We work closely with the WSU Alumni Association, but we have separate missions (Alumni Association site).
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