Role and Responsibility of IU Foundation in Relation to Gifts for IU
May 6, 1983
WHEREAS, the Indiana University Foundation was incorporated in 1936 and its purposes are:
- To acquire, receive, hold, invest and administer property for the benefit of Indiana University;
- To make expenditures to or for the benefit of the University, its faculty and students;
- To promote, sponsor and carry out educational, scientific, charitable, and related activities and objectives for the benefit of the University; and
- To supplement all of the services which the University should render to society; and
WHEREAS, the Board of Trustees of Indiana University has in various past actions requested, authorized and/or designated the Indiana University Foundation to serve the University in a variety of ways; and
WHEREAS, the Indiana University Foundation is preparing to enhance and expand its support of Indiana University, and it is appropriate for the University to confirm its desire that the Foundation continue this historical relationship;
THEREFORE, Be it Resolved by the Board of Trustees of Indiana University that Indiana University Foundation be designated as the fund-raising arm of the University, and that the Foundation be responsible:
- To manage, coordinate, and promote fund-raising efforts for the benefit of Indiana University—whether undertaken by the Foundation itself or with the cooperation and active participation of the various divisions and departments of the University—to seek annual contributions, major gifts, corporate gifts, planned or deferred gifts, bequests, and any other types or kinds of gifts which may be solicited or received for the benefit of Indiana University.
- To administer gift funds and other assets received by the Foundation for the benefit of the University to assure that such assets shall be of maximum benefit to the University, faithfully following any restrictions or conditions which may be established by donors.
- To confer with appropriate University officials to ascertain continuing and new needs for gift support and, accordingly, to establish priorities for special fund-raising projects.
- To complement the efforts of Indiana University to seek and procure sponsorship and financial support for research, teaching, and service projects of the University; to enter into contracts in the name of the Foundation for those grants which the Foundation secures; and in cooperation with Indiana University, to supervise and handle, as required, the administrative matters relating to such projects.
- To administer inventions and developments resulting from research conducted at the University, and to hold and exploit patents covering said inventions and developments.
Upon motion duly made and seconded, the resolution was adopted unanimously as presented.