Frequently Asked QuestionsWhat is the purpose of the EMU Foundation?To increase sources and amounts of private funds for the benefit of EMU. All fundraising activities undertaken by individual units of EMU are coordinated through the EMU Foundation. The funds are used to support student scholarships, programs, facility enhancement and faculty research and development. What are the goals for the EMU Foundation?Our goals are to: 1. Manage the assets
This includes investing endowment funds, managing planned gifts such as annuities, unitrusts, bequests, life insurance, real estate, as well as securities and other gifts.
2. Increase private support This includes maintenance and development of our gift process, development of yearly and long-term giving and marketing plans and board development to enhance our fundraising opportunities.
3. Enhance Awareness Our objective is to increase awareness, build trust and continue to educate all constituencies on the role and impact of the Foundation on EMU and its students.
What is the EMU Foundation's tax status?The Eastern Michigan University Foundation is a private nonprofit corporation under the laws of the state of Michigan. It is a tax-exempt organization as described in Section 501 (c)(3) of the Internal Revenue Code. The Foundation holds a Charitable Solicitation License from the State Attorney General's office. The EMU Foundation complies with all laws that relate to the operation of a private, nonprofit corporation and it is audited annually by Plante & Moran, PLLC. Financial information is disclosed in the Annual Report that is distributed to the Board of Regents and major donors. Click here to view the 2011 EMU Foundation Annual Report, call the EMU Foundation at 734.484.1322 or write us at 1349 S. Huron Street, Ypsilanti, Michigan 48197. How will my gift be used?Gifts are received and processed according to your designation. The EMU Foundation manages over 650 endowments, endowed scholarships, unitrusts and annuities. Each has been established for a specific purpose or area and with specific direction for distribution. How much of each gift is allocated to the EMU Foundation for operating expenses?The EMU Foundation does not take a portion of any gift, 100% of your gift is used for your designated purpose. Operating revenue for the EMU Foundation is comprised of the following components: funding from the University; 3.25 percent of the endowment based upon a twelve quarter average market value; funding from an endowment specifically established to support the Foundation’s operations; short term interest income; and tenant rental income. Where are the gifts directed?Your gift can be donated toward programs, departments, colleges and student scholarships of your choice. Gifts to Eastern Michigan University were designated according to the following percentages in 2010/11:
How are members of the EMU Foundation Board of Trustees selected?Potential external trustees are suggested by the EMU Foundation staff, the colleges, the president of the University, and current and emeritus trustees. Those suggestions are presented to the EMU Foundation's Trusteeship committee. Trustees are reviewed and elected according to their ability and willingness to provide leadership in fundraising and provide expertise in asset management. They are expected to support the University financially, as well as assist in fundraising.
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