Wichita State University Foundation

Overview

The Wichita State University Foundation is a non-profit 501(c)(3) organization dedicated to supporting Wichita State University through philanthropy and engagement. It operates as an independent entity, with only 9.1% of its operating budget derived from a contract-for-service with the university[3]. The Foundation's mission is to elevate, celebrate, and advance Wichita State University by fostering a strong community of alumni and donors[1][4].

History

Established in 1965, the WSU Foundation has a history of providing essential private support to enhance the university's mission and vision. In 2022, it merged operations with the WSU Alumni Association, which was founded in 1913, to form the Wichita State University Foundation and Alumni Engagement (WSUFAE)[1]. This merger aimed to streamline efforts in supporting the university through combined philanthropy and alumni engagement.

Mission and Activities

The WSU Foundation is passionate about creating opportunities for student success and supporting the academic and research endeavors of Wichita State University. It does this by managing endowed funds and current gifts, which support various programs across the university, including scholarships and university priorities[1]. The Foundation also plays a critical role in addressing the declining state appropriations by increasing private contributions to keep the university at the forefront of educational opportunities[3].

Structure and Governance

The WSUFAE is governed by a Board of Directors, which oversees its operations to ensure alignment with its mission. Additionally, a National Advisory Council composed of nearly 120 alumni and friends promotes the university's interests and expands its reach beyond Wichita[1].

Operations

The Foundation manages almost 2,300 active fund accounts, including endowed and current expendable funds. It ensures that private gifts are expended according to donor intent through its Donor Compliance Services unit, which reviews fund activity and reports to university leaders[5].

Fees and Donations

To support its operations, the WSU Foundation charges a philanthropic support fee on certain gifts. This fee structure is reviewed periodically and is common among similar organizations. Donations to the Foundation are tax-deductible to the full extent allowed by law[3][4]. The fee does not apply to specific types of gifts, such as gifts-in-kind and Shocker Fund gifts[3].

Impact

The WSU Foundation significantly impacts Wichita State University by providing substantial financial support. In recent years, it has distributed millions of dollars in scholarships and university support, contributing to the growth and development of the institution[3].