FOUNDATION FOR INDIANA UNIVERSITY OF PENNSYLVANIA

The Foundation for IUP is an independent non-profit charitable 501(c)3 corporation, organized in 1967 to promote and support the educational purposes of IUP. The purpose of the Foundation, as stated in its charter is to… “promote educational purposes in connection with or at the request of the University be encouraging, sponsoring, and aiding institutional goals; by furthering education and learning in the arts and sciences and the pursuits and professions of life; by making gifts, scholarships, by providing other support for the accomplishment of University objectives; by seeking, acquiring, holding and using gifts, bequests, devises, endowments to meet the needs of IUP; by acquiring or otherwise providing buildings, grounds, or other suitable facilities, improvements or equipment for IUP…” The Foundation is governed by a Board of Directors made up of volunteers. An Executive Committee, chaired by the Foundation President and made up of Directors, meets during intervals between the quarterly Board Meetings. The Board is further organized into standing committees – Finance, Investment, Audit, and Nominating – and occasional ad hoc committees, such as the Housing Committee. The Foundation employs a staff of six, which include a Director, a CFO and a Manager of Contract Administration. The Foundation acts as the repository for private financial support and has fiduciary and legal responsibilities for the management, investment and disbursement of the funds and for the conduct of all the organization’s affairs. Currently the Foundation manages nearly $300 million in assets, approximately $50 million in endowed funds and $250 million in real estate. The Foundation also accepts and maintains ownership of non-financial gifts such as objects of art.