An unrestricted gift is given to the University without any restrictions on its use—they enable the University to place the contributions where the most critical need exists. Restricted gifts, on the other hand, are earmarked by the donor for a specific college, department, program, or purpose.
The Illinois State University Foundation Board of Directors directs the use of unrestricted gifts based upon their direct knowledge of the University's priorities. Members of the board of directors are volunteers who serve in this leadership capacity to seek and manage funds to benefit Illinois State University.
The Annual Fund is a comprehensive program for soliciting ongoing financial support for Illinois State University's programs and students. The Annual Fund's telephone calls and direct mail solicitations combine department, college, and other annual appeals into one simple and direct program that is more convenient and flexible for its donors.
An endowed fund is a sum of money invested to fund a particular project, such as a student scholarship. The initial investment, called the principal, is intended to continue forever, with the investment income from the principal providing perpetual funding. To endow a fund at Illinois State, a donor must agree to provide a principal of $20,000 and sign guidelines indicating how the earnings on the principal will be used.
The Illinois State University Foundation is a registered 501(c)3 charity, managed by an independent volunteer board of directors who are responsible for ensuring gifts are used as donors have directed. The Foundation was created to assist in developing and increasing education opportunities and the facilities of Illinois State University…and to receive, hold, and administer gifts with the primary objective of serving the education purposes of the University.
Most public universities are organized with an affiliated Foundation. This helps to ensure that charitable gifts intended to benefit Illinois State University are accounted for separately from funding provided by the State of Illinois.
The funding dynamic for public universities has changed significantly. In years past, the State of Illinois provided as much as 70% of the University’s operating budget. Today, less than 1/3 of the University’s support comes state appropriation. Now, more than ever, the charitable gifts garnered and managed by Illinois State University Foundation provide critical support to the Illinois State University students and programs.
The Illinois State University Foundation accepts most, but not all, gifts that are offered by donors. Cash gifts, and gifts which are readily or eventually convertible to cash (stocks, bonds, insurance policies, annuity contracts, etc.), are the most easily accepted. Gifts of real property (land, buildings, etc.) and tangible personal property (artwork, jewelry, historical artifacts, etc.) are accepted on a case-by-case basis after a thorough review of the following factors:
Specific policies, guidelines, and procedures have been adopted by the Foundation to uniformly regulate the review and acceptance of such gifts.
Matching gifts are company-donated contributions that match the contribution made by employees on a one-to-one, two-to-one, or even three-to-one basis. This program enables some donors to increase the impact of their contributions to Illinois State University. Does my company match?
