Foundation Board

Message from the Foundation Chairman

WOW…What an awesome time to be an Eastern Washington University Eagle!

With the near completion of the Pence Union Building, ground-breaking for the new Interdisciplinary Science Center (ISC), our involvement with the state-of-art Catalyst Building, along with the addition of phenomenal new and energetic leaders at EWU, momentum and positive energy is as high as we have seen in years!

As the EWU Foundation is a separate non-profit arm of the University, our sole mission is to engage alumni and friends in the philanthropic support of Eastern. Even though this is a voluntary labor of love, we take this responsibility seriously and with full-fledged Eagle red passion and pride. The Foundation recently celebrated its 40th anniversary at the Red Tie Gala annual event. At this event, we were also able to celebrate with, and recognize the development staff for a record-breaking year by bringing in over $5.7 million dollars in private support to provide for scholarships to our greatest assets… the students at Eastern!

Moving forward, with tremendous goals and opportunities on the horizon, I would be remiss to mention that in order to continue to meet and exceed our objectives, we need the continued efforts of the entire team… development staff, volunteer board of directors and committee members, university staff, and our donors and benefactors. The combined efforts of this group will be key to driving EWU to higher heights.

In closing, as a proud Eastern alumnus, and over my years as a board of director for the EWU Foundation, I have always been impressed by the desire and commitment that not only the volunteer BOD’s bring to the table, but also that of the development team and our university community. At this time, I am really seeing a renewed desire and passion that is becoming infectious, and because of this, I envision greater things happening as we move forward. Thanks to all for your support and effort to improve the educational opportunities and student life of those at Eastern.

Go Eagles!!!

Mark ThompsonMark Thompson ’86 CBPA
EWUF Chair
Vice President/Commercial Banking Officer
Wheatland Bank

Asset Management Policy

In accordance with the standards of care and prudence within the Uniform Prudent Management of Institutional Funds Act (UPMIFA), this document outlines the asset allocation policy and performance objectives for the EWU Foundation (“Foundation”) Endowment Pool and supersedes any prior adopted policies.

The selection of asset classes, the amount invested in each, and the mix among these is the greatest source of return and risk to the Foundation Endowment Pool. Therefore, the apportionment and allocation is the basis of the investment policy. The asset allocation policy, when viewed along with the respective investment policies in each asset class and monitored and measured against agreed upon benchmarks, constitutes the Board of Directors’ view of a prudent and well-reasoned approach to the management of the entrusted funds.

The overall investment goal of the Foundation is to adhere to sound investment strategies in order to provide prudent stewardship of assets donors have entrusted for the benefit of Eastern Washington University.

It is the responsibility of the Investment Committee to select, monitor and evaluate the performance of each Investment Advisor (Schedule B); to determine the overall allocation of the assets in the Endowment Pool; and to adhere to the Foundation Directors Conflict of Interest Policy. The Investment Committee has a responsibility to recommend the hiring, retaining and termination of an Investment Advisor.

The Investment Committee practices due diligence in the recommendation of an investment manager. Selection criteria are clearly defined, the RFP for services widely disbursed and the interview/selection process highly collaborative. During the process the EWU Foundation Asset Management Policy is discussed with a keen focus on the investment asset allocation guidelines and performance expectations.

The Investment Committee will make clear the investment goals, asset allocation schematic, financial condition, and risk tolerance parameters during the selection process, at the time of hire, within the associated Foundation policies, and within the contract with the Investment Manager.

Performance reports shall be compiled at least quarterly and communicated to the Investment Committee and the Executive Committee for review. The investment performance of total portfolios, as well as asset class components, will be measured against commonly accepted performance benchmarks, Consideration shall be given to the extent to which the investment results are consistent with the investment objectives, goals and guidelines as set forth in Asset Management Policy.

The EWU Foundation Board of Directors reserves the right to terminate a manager for any reason, including the following:

  • Violating asset allocation guidelines or mandates.
  • Investment performance which is significantly less than anticipated given the discipline employed and the risk parameters established.
  • Failure to adhere to any aspect of the Asset Management Policy, including communication and reporting requirements.
  • Significant qualitative changes to the investment management organization.

Investment managers shall be reviewed regularly regarding performance, personnel, strategy, research capabilities, organizational and business matters, and other qualitative factors that may impact their ability to achieve the desired investment results.

To meet this responsibility adequately the Investment Committee will meet on a regular basis as determined by the committee, but not less than semi-annually. The Investment Advisor(s) should formally present performance information in person to the Investment Committee not less than annually.

The Investment Advisor is responsible for the day to day investment management of assets in accordance with this Investment Policy. The Investment Advisor shall invest and rebalance the portfolio’s asset categories so that they are consistent with the stated Asset Management Policy and Schedule.

Any Investment Advisor hired will assist the Investment Committee with advice and guidance to achieve the investment objectives set forth within this Policy Statement. In addition, the Investment Advisor will monitor the performance and investment process showing performance against the benchmarks to assure that the objectives and guidelines are maintained and accomplished.

In order to fulfill the stewardship and total return goals of the Foundation, the policy of the Investment Committee should include:

  1. A long-term focus both in terms of expected rates of return and distributions for the funds under supervision by using one, three and five-year moving averages for principal growth and income measured against suitable benchmarks selected by the Investment Committee and approved by the board.
  1. Risk management: price volatility (beta), price-to-earnings ratio (P/E) and P/E to growth rate ratio standards should be similar to those of the benchmark risk analytics.
  1. Asset classes providing diversification.

The EWU Foundation must manage cash, endowments and the endowment pool, and trusts on which it is named as the trustee for the benefit of Eastern Washington University.

a. Operating Capital (Cash)

i. Investments

Cash should be managed to meet the liquidity requirements for disbursements. The overriding objective is liquidity.  A minimum amount to be held in deposit accounts should be set by the Finance Committee.  All cash in this account should be swept nightly for overnight investments.  Funds in excess of this minimum amount should be invested in intermediate term cash vehicles for no more than 90 days.

ii. Earnings

The portions belonging to the endowment pool shall be allocated monthly in keeping with donor intent. All other earnings (i.e. on unrestricted and temporarily restricted accounts not associated with an endowment) are considered unrestricted.

An exception to allow a restricted account to earn interest may be granted by the Executive Director with the concurrence of the Finance Committee. These funds will be invested in a suitable short term investment vehicle. Restricted funds are given by the donor with the intent the receiving program put the funds to use.

iii. Transfers to Endowment

On a quarterly basis, monies earmarked for endowed accounts will be transferred into the endowment pool for investment.  Quarterly transfer period will be the first business day in October, January, April, and July.

b. Endowment Pool

The endowment pool shall consist of readily marketable assets.  Assets that cannot or will not quickly be converted to cash equivalents will be held separate from the investment pool, as gains and/or losses more properly relate to the fund to which asset was donated. Pledges are considered assets when paid and received into the endowment pool.
The endowment pool shall have an asset balance suitable for an endowment that will exist in perpetuity. The Investment Committee shall select or create benchmarks to measure and analyze performance of the endowment pool. The comparison of actual results to the benchmark shall be part of the report to the Foundation Executive Committee and full Foundation Board of Directors and this report shall be made at least annually.

i. Asset Allocation

The asset allocation target and range (schedule A) is established by the Investment Committee and matches the broad allocation percentages defined in the performance benchmark objective.   These objectives must be considered at all times when making investment decisions.

The range around the targets is intended to keep the actual allocation close to the target while allowing for limited discretionary investment advisor flexibility.  The asset mix may deviate from the target as shown below.  Deviations outside the policy range require written notice from the Investment Advisor, along with a proposed plan for an immediate rebalance back to the long-term range.

The total value of assets held in equities should not exceed 80% of the total investment pool.  The target mix represents a long-term asset allocation strategy for the endowment period.

When the asset class falls outside of its range, the goal of rebalancing will be to meet the target allocation with consideration of the other remaining asset classes.  If necessary, the Investment Advisor will propose a rebalancing strategy to the Investment Committee.

ii. Performance Benchmark Objective

The Foundation Endowment investment goal is to match or exceed the return of a policy benchmark consisting of public market indices weighted according to asset allocation targets. The performance benchmark will adjust in line with the Board of Directors adopted asset allocations. Based on the current allocation the invested asset performance should be compared to the following benchmarks or another suitable benchmark that is agreed to by the committee and is in the committee’s judgment, prudent.

  • S & P – large cap proxy
  • Russell 2000 – small cap proxy
  • Russell Mid Cap – mid cap proxy
  • MSCI EAFE – Int’l proxy
  • BC U.S. Aggregate – bond market proxy

While seeking to match the return of the benchmark, the risk of the portfolio, as measured by beta, should not exceed the risk of the blended benchmark. The beta of the portfolio will be reported to the Investment Committee at least annually by the Investment Advisor.

If at any time the beta of the portfolio exceeds the beta of the blended benchmark, the Investment Advisor must explain the rationale behind the decision for the excess risk and the Investment Committee will consider this investment management action a material breach of contract. The Investment Advisor must take immediate corrective action.  The Investment Committee will determine if other punitive actions should be considered.

iii. Asset Restrictions

Non Traditional asset classes: Assets falling into this category are at the discretion of the Investment Committee. The Investment Advisor must obtain prior approval from the Investment Committee before investing in these assets and must limit the exposure to less than 5%.

Quality of Bond Portfolio: All individual bonds should be rated Baa or BBB or better at purchase. If the rating of a bond falls below the equivalent of BBB the Investment Advisor will notify the Investment Committee and make a recommendation as to whether the bond should continue to be held. The Investment Committee will decide how to proceed. The average credit quality of the overall bond portfolio shall be no less than A. Regulated investment companies (Mutual Funds) are exempted from quality restrictions.

No more than 20% of the market value of the bond portfolio may be invested in foreign bonds.

Diversification: At no time shall any security purchased by an Investment Advisor exceed 5% of the market value, at cost, and 10%, at market value, of the total portfolio except for exchange traded or mutual funds.

Leverage: The use of leverage will not be permitted by the Investment Advisor. We recognize that certain approved assets may use leverage within the investment vehicle (hedge funds, mutual funds, etc.) but that use of leverage must be within the investment vehicle and not directed by the Investment Advisor and can have no rights to any other assets in the portfolio. There can be no right to call for additional funds.

iv. Unitized Pool

The endowment pool will be unitized. Similar to a mutual fund, gifts or transfers to funds enter the pool on a monthly basis through the purchase of shares at the unitized, or prorated, market value at the end of the prior month of all endowment pool assets. When funds are withdrawn, withdrawals are based on the unit market value of the investment pool at the end of the month prior to withdrawal. Gains or losses properly belonging to a particular fund will be allocated to that fund and not the pool as a whole.

Income is also unitized and allocated to participants based upon the number of shares owned. Income is distributed annually based upon the spending rate.

Investment income in excess of the spending rate is reinvested in the pool. Any unspent distributions will generally be returned to principal at the end of the fiscal year.

v. Distribution & Fees 

Endowment distribution and fee percentages are determined annually by the EWU Foundation Executive Committee in accordance with the Endowment Distribution and Fees Policy.

c. Endowments Not Pooled

EWU Foundation endowment accounts are pooled in order to improve performance and the Investment Committee’s ability to oversee them, as well as reducing the overhead for Foundation staff to manage the funds.

On an exception basis, some endowments may be invested independent of the pool. This includes accounts waiting for state match, and other situations. With the exception of accounts waiting for state match, the minimum principal balance for independent endowments is $100,000. Although invested separately, asset allocation and restrictions, performance benchmarks, distribution policy and fees mirror that of the endowment pool unless otherwise stated below.

  • Authority to grant: These separate investments may be approved by the Executive Director with the concurrence of the Investment Committee.
  • Investments: Investment mix will be consistent with current investment policy for the endowment pool, unless otherwise indicated. As an example, accounts waiting for state match are to be invested in short or intermediate term investments, based on estimated time when matching funds are likely to be available.
  • Receipt and disbursement of funds: New gifts will be transferred into the investment fund at least quarterly. Cash earnings until transfer are considered unrestricted.

Earnings made available for distribution will be transferred out of the investment to cash in July of each year.

  • Distributions: Distributions will be in accordance with current spending rate policies. In order to use a 3 year a rolling average, these accounts will utilize the pool’s historical unit values until separately invested for more than 3 years.

d. Trusts – EWUF as Trustee

The Trusts shall have an overall asset balance that recognizes the long-term holding period of charitable remainder unitrusts and annuities.

The primary need for earnings from this pool to fund net income distribution requirements and secondary to increase the total asset base of the trust is the objective.

At the formation of each new internally managed trust it shall be the responsibility of the Investment Committee to select funds to invest to accomplish the requirements of the trust.

The Investment Committee shall use prudent discretion in selecting financial institutions to hold and invest such funds, with consideration given to the donor’s current Investment Advisors.  For internally managed trusts, the individual Investment Advisors shall be required to meet with the Investment Committee at least once per year.

Secondary classes of assets held by the Foundation include art, equipment, property, life insurance cash surrender value receivable, stock gifts in the process of being liquidated and gift pledges receivable. Of note, stock gifts are immediately converted to cash; and property is either sold or transferred to EWU; in both of these cases, the proceeds are invested in accordance with the guidelines defined above;

Equity65%60-70%
Domestic Equity*55%45-65%
Developed/Emerging International10%5-15%
Fixed Income35%20-40%
Core U.S. Investment Grade25%20-30%
High Yield5%5-10%
Inflation Protected5%5-10%
Cash≤1%≤1%
Total100%

*To be invested with exposure to the entire US equity market including small, mid and large cap stocks. Within this allocation over 60% should be in large cap stocks (large cap includes “giant”).

UPMIFA Compliance: Manager Expectations & Communication

The EWU Foundation delegates the management and investment of foundation funds to an external agent. In doing so, the EWU Foundation recognizes the responsibility to act in good faith and with the care that an ordinary prudent person in a like position would exercise under similar circumstances. This is accomplished via the following activities and associated processes for each:

Investment Manager Selection

The EWU Foundation practices due diligence in the selection of an investment manager. Selection criteria are clearly defined, the RFP for services widely disbursed and the interview/selection process highly collaborative. During the process the EWU Foundation Asset Management Policy is discussed with a keen focus on the investment asset allocation guidelines and performance expectations.

Establishment of Scope & Terms of the Delegation

The EWU Foundation will make clear the investment goals, asset allocation schematic, financial condition, and risk tolerance parameters during the selection process, at the time of hire, within the associated Foundation policies, and within the contract with the Investment Manager.

Review & Monitoring of the Agent’s Performance

Performance reports shall be complied at least quarterly and communicated to the Investment Committee and the Executive Committee for review. The investment performance of total portfolios, as well as asst class components, will be measured against commonly accepted performance benchmarks.  Consideration shall be given to the extent to which the investment results are consistent with the investment objectives, goals and guidelines as set forth in Asset Management Policy. The EWU Foundation Board of Directors reserves the right to terminate a manager for any reason, including the following:

  1. Violating asset allocation guidelines or mandates.
  2. Investment performance which is significantly less than anticipated given the discipline employed and the risk parameters established.
  3. Failure to adhere to any aspect of the Asset Management Policy, including communication and reporting requirements.
  4. Significant qualitative changes to the investment management organization.

Investment managers shall be reviewed regularly regarding performance, personnel, strategy, research capabilities, organizational and business matters, and other qualitative factors that may impact their ability to achieve the desired investment results.

(This Statement approved & recommended by the Audit committee on 6.22.10 and approved by the Executive committee on 10.21.10)

Reviewed

Reviewed by EWU Foundation Investment Committee March 12, 2019.

Download Policy PDF

Bylaws

Eastern Washington University Foundation (Foundation) was established in the State of Washington as a Washington nonprofit corporation in 1977. It is recognized by the Internal Revenue Service as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Service Code of 1986, as amended (“Code”). The Foundation has been formed to promote and support educational programs and services affecting faculty, staff, and students at Eastern Washington University; to identify, promote, receive, and prudently manage all private gifts from individuals, corporations, foundations, and associations to Eastern Washington University; and to invest and steward the assets entrusted to it by the University and its alumni, friends and donors. The partnership between the Foundation and Eastern Washington University is a cooperative venture of using mutual resources to accomplish the goals and objectives of Eastern Washington University and the Foundation. The Foundation and the University are separate entities, separately governed and separately legislated. The Foundation is independent of the University and, while its members should listen to the administration of the University, the independence of the Foundation should be kept uppermost in the minds of its members as Foundation judgment must be independent.  These Bylaws following should be interpreted in light of this Preamble.

1.1 Name. The name of this Foundation is Eastern Washington University Foundation.

1.2 Seal. The seal of the Foundation shall be circular in form and mounted upon a metal die suitable for impressing the same upon paper. Above the upper periphery of the seal shall appear the words “Eastern Washington University Foundation.” In the center of the seal shall appear the words “Corporate Seal” and the year of incorporation “1977.”

1.3 Principal Executive Office. The principal executive office of the Foundation is hereby fixed and located at Eastern Washington University, 102 Hargreaves Hall, Cheney, Washington 99004.  The Board of Directors is hereby granted full power and authority to change from time to time said principal executive office from one location to another. Any such change shall be noted on these Bylaws by the Secretary, opposite this section, or this section may be amended to state the new location.

2.1 Powers and Duties. The powers and duties of the Foundation shall be vested in the Board of Trustees, hereinafter designated as the Board of Directors, which shall be the governing body of the Foundation.  The Board of Directors shall manage the activities and affairs of the Foundation and have the full authority to act thereon, except as limited by law and the Articles of Incorporation.

Subject to any limitations of law or the Articles of Incorporation, the Board of Directors shall manage and carry out the fiduciary responsibility vested in it by the Bylaws and in so doing shall have all the rights, powers and authority of the board of directors of a corporation.

The Directors are expected to gain a comprehensive knowledge of the Foundation and the University, their vision, missions, programs, and financial conditions.  The Directors are to support the fundraising goals and aspirations of the Foundation and the University through their own personal commitment and by building relationships with prospective donors. The Directors are to demonstrate a personal commitment to continued financial support for Eastern Washington University and to volunteer participation and leadership in support of the University and the Foundation.

2.2 (a) Membership: Regular. The Board of Directors of the Foundation shall consist of not less than fifteen (15) or more than thirty-five (35) Directors, excluding ex-officio Directors not entitled to vote. A Director must be an individual but need not be a resident of Washington. The exact number of Directors may be specified and increased or decreased from time to time by the Board, but no decrease shall reduce the number of Directors to less than fifteen (15) or have the effect of shortening the term of any incumbent Director.       

2.2 (b) Membership: Ex-Officio. The persons in the following five (5) positions shall serve as Ex-Officio Directors without the need for further action to be taken and shall serve until their successors take office:

These five (5), Ex-Officio Directors shall have all rights, powers, and privileges of Elected Directors.

  1. Chair of the Board of Trustees or designee;
  2. President of the Alumni Association;
  3. President of the Associated Students of Eastern Washington University or executive designee;
  4. Chair of the Associated Students of Eastern Washington University Advancement Committee or executive designee;
  5. President of the Eastern Washington University Retirees Association or designee

These two (2) Ex-Officio Directors shall not hold an office nor have voting rights except as provided in Article 2, Section 8 of the Bylaws and Article 8, Section 3 of the Articles of Incorporation as it pertains to Removal of a Director.

  1. President of the University;
  2. Vice President for University Advancement/Foundation Executive Director.

2.3 Election. Directors shall be elected by majority vote of the Directors, entitled to vote and in attendance in person, at the Annual Meeting, provided that a quorum is present.  The Board of Directors shall vote upon the slate of nominees submitted by the Committee on Directors. No more than one-third (1/3) of the Directors shall be subject to election or re-election in any one year, excluding Directors ex-officio.

2.4 Terms. Elected Directors as provided for under Section 2.2(a) shall serve for a term of three (3) years and may be re-elected for not more than two (2) additional terms, totaling nine (9) consecutive years of service. Terms shall expire at the third annual meeting of the Board of Directors subsequent to the Annual Meeting at which the Director is elected.  No Director shall serve more than nine (9) consecutive years unless he/she has served as Board Chair of the Foundation within the nine (9) years prior to the expiration of his/her term as Director. Directors under Section 2.2(a) who have served the maximum number of consecutive elected terms on the Board of Directors shall be ineligible for election for a period of one year following the end of their most recent service on the Board of Directors; and thereafter will be eligible for nomination again.

2.5 Vacancy. Whenever a vacancy is created on the Board of Directors of the Foundation, the remaining Directors, excluding Directors ex-officio not entitled to vote, may elect a successor to complete the unexpired term.

Appointment to fill the balance of the unexpired term where more than half of the unexpired term remains shall be considered a full term. 

2.6 Compensation. The Directors shall receive no compensation for their services.

2.7 Resignation. A Director may resign at any time by delivering written or electronic notice to the Board of Directors, the Chairperson, the Secretary or the Executive Director of the Foundation.

2.8 Removal. Any Director may be removed, with or without cause, at any time by a three-quarter affirmative vote of the entire Board of Directors including Directors ex-officio.

3.1 Annual and Regular Meetings. The annual meeting of the Directors shall be held in the last quarter of the fiscal year. The regular meetings shall be determined by the Executive Director and the Executive committee, and shall be held at regular intervals throughout the remainder of the year, at such time, and at such location as the Chair of the Board of Directors shall determine.  The purpose of the meetings shall include business transactions and activity coordination that may come before such meetings and may also include presentations and updates. Nomination of new Directors, term re-election of Directors, election of officers, assignment of Directors to committees, adoption of the annual Foundation budget and review of the corporate resolution shall take place at the annual meeting of the Directors. Notice of the annual and such regular meetings shall be given pursuant to the provisions of these Bylaws.

3.2 Special Meetings. Special meetings of the Foundation Board of Directors may be called by not less than three (3) of all the Directors entitled to vote at the meeting, or by the Chair of the Directors. The request must be submitted in writing or electronically to the Secretary of the Board of Directors or the Executive Director of the Foundation and specifically state the purpose or purposes for which the meeting has been requested. Special meetings will take place no sooner than ten (10) and no later than thirty (30) days after receiving a request for a special meeting. No business other than that specified in the request will be transacted at a special meeting.

3.3 Committee Meetings. Committees shall hold regular meetings pursuant to a schedule issued by the Chair of the Directors and pursuant to these Bylaws. Special meetings of the committees may be held upon the call of the Committee Chair or the Chair of the Directors at any time that the attendance or consent of at least a majority of the committee can be obtained.

3.4  Notice of Meetings. Written or electronic notice stating the place, date, and hour of the Annual or a Regular meeting shall be delivered to all Directors not less than ten (10) days before the date of the meeting; and not less than five (5) days before the date of a Special meeting. The notice for Special meetings shall include the purpose for which the meeting is called.

Notice of all meetings must be given by personal service, first-class mail, facsimile or electronic mail to each Director. If mailed, such notice shall be deemed to be delivered when deposited in the United States mail addressed to the Foundation Director. Waiver by a Director in writing of a notice shall be equivalent to the giving of such notice.

3.5 Conducting Business and Director Participation. The Board of Directors, Executive Committee, standing committees and special committees may conduct their business by electronic or conventional means including mail, telephone, facsimile, computer, email or other appropriate means provided that all members have access to the information and/or debate through one or more means listed. Directors may participate in any such meeting through use of conference telephone or similar communications equipment, so long as all Directors participating in such meeting can actively participate. Participation in a meeting in this manner shall constitute presence in person at such meeting.

3.6 Quorum. One half (1/2) of the Directors of the Board who are in office and are entitled to vote shall constitute a quorum for the transaction of business at all meetings of the Board of Directors, except as expressly provided otherwise in the Articles of Incorporation, these Bylaws or by resolution of the Board of Directors.

3.7 Voting. A Director may vote at each meeting of the Board of Directors, except that the ex-officio Directors holding the positions of President of the University and Vice President of University Advancement/Executive Director of the Foundation shall not have voting rights, except as provided in Article 2, Section 8 of the Bylaws and Article 8, Section 3 of the Articles of Incorporation as it pertains to Removal of a Director. Voting at meetings of the Board of Directors shall be in person and a majority vote shall rule.

3.8 Conflict of Interest. Each Director and Officer is a fiduciary to the Foundation and has a duty to act in the best interests of the Foundation.  If a Director or Officer has a conflict of interest, the Director or Officer shall disclose such conflict to the other directors prior to any action requiring a vote of the directors.  A Director or Officer with a conflict shall abstain from all action by the Foundation pertaining to the matter creating a conflict. Disclosure of every conflict shall be disclosed in the minutes of the Board of Directors meetings.  A conflict is a matter in which the financial, economic or employer interests of the Director or Officer could result in a gain, personally or professionally, as a result of action by the Foundation. A gain includes benefits to spouses or children in the immediate family of the Director or Officer.

4.1 General. The Foundation Board of Directors shall create standing committees specified herein, and may create such other standing or special committees, as a necessary and effective way to efficiently discharge the business and affairs of the Foundation. The Board of Directors shall delegate authority to the committees to act on behalf of the Board of Directors, to the extent permitted by law, as the Board deems appropriate. All committees of the Board shall serve at the pleasure of the Board of Directors, and shall have such powers, functions and responsibilities as shall be conferred by these Bylaws or by resolution of the Board. Each committee shall report all actions taken, at the next regular meeting of the Board of Directors.

The Foundation Board of Directors shall establish, and assemble as appropriate: (i) Executive Committee which has the general power to bind the Foundation and act on behalf of the Board of Directors; (ii) standing committees which are permanent in nature to oversee operations and study specific areas of activity and may have limited power to bind the Foundation; and (iii) special committees and advisory boards which are temporary or ad hoc groups for only limited purposes and without power to bind the Foundation.

4.2 Composition. All committees must include at least two Directors and a majority of the members of the Audit Committee, Investment Committee and Committee on Directors shall be elected Directors as specified in Section 2.2(a) The Chair of the Board of Directors and the Executive Director of the Foundation shall be members of each committee except the Audit Committee. The Chair of each committee shall be a current elected Director as specified in Section 2.2(a)

4.3 Terms. The committee chairs and all committee members shall be appointed by the Chair of the Board of Directors and shall be approved by the Foundation Board of Directors. Standing committee chairs shall serve two-year terms and may be eligible for re-appointment to one additional two-year term (totaling four consecutive years of service). Committee members shall serve one-year terms. Committee members may be re-appointed at the beginning of the subsequent fiscal year, but are limited to a maximum of six (6) consecutive years unless granted an exception by the Executive Committee.

4.4 Quorum and Voting. The presence of a majority of committee members shall constitute a quorum. Ex-officio members, not entitled to vote, shall not be counted for quorum purposes with the exception of the Executive Committee. A majority of those present at a duly held meeting with a quorum may perform any act or make any decision vested in the committee.

4.5 Executive Committee Composition. The Executive Committee shall be comprised of the Directors holding the offices or positions at the Foundation or University as follows:

  1. Chairperson
  2. Vice-Chair
  3. Secretary
  4. Treasurer
  5. Immediate Past Chair
  6. Chair of the Board of Trustees or designee
  7. The President of Eastern Washington University or designee
  8. Foundation Executive Director

Two (2) additional Directors may be appointed as members of the committee at the discretion of the Chair of the Board of Directors.

4.5.(a) Powers of the Executive Committee. The Executive Committee shall exercise all the powers of the full Board of Directors, subject to the direction and control of the full Board of Directors, except it shall have no authority to:

(1) Amend, alter, or repeal the Bylaws;

(2) Elect, appoint, or remove any member of any such committee or any director or officer of the corporation;

(3) Amend the Articles of Incorporation;

(4) Adopt a plan of merger or adopt a plan of consolidation with another corporation;

(5) Authorize the sale, lease, exchange, or mortgage of all or substantially all of the property and assets of the corporation;

(6) Authorize the voluntary dissolution of the corporation or revoking proceedings therefore;

(7)       Adopt a plan for the distribution of substantially all of the assets of the corporation; or

(8) Amend, alter, or repeal any resolution of the Board of Directors which by its terms provides that it shall not be amended, altered, or repealed by such committee.

4.5.(b) Executive Committee General. The Executive Committee shall meet on a schedule as approved at the Annual Meeting and on call of the Chair of the Board of Directors. The Chair shall serve as Chairperson of the Executive Committee. The Executive Committee shall receive reports of standing committees and recommend appropriate action on such reports to the Board. The Chair may invite other Directors to participate in the Executive Committee meetings as appropriate to the agenda, but these individuals shall not hold voting privileges. The Executive Committee shall report all its activities at the next meeting of the Board of Directors following the Executive Committee meeting when action was taken.

4.6 Standing Committees of the Board of Directors

4.6(a) Finance Committee. The Finance Committee shall advise, counsel, and make recommendations to the Board of Directors with regard to all financial matters affecting the Foundation. The Committee shall review reports, budgets, financial statements, policies and procedures pertaining to the financial transactions and affairs of the Foundation. The Committee shall ensure adherence to established policy in the management of receipts and disbursements of the Foundation. Policies established by this Committee must be ratified and approved by the Foundation Board of Directors. Subject to approval of the Executive Committee, the Chair of the Foundation Board of Directors shall appoint annually a minimum of three (3) persons to serve as the Finance Committee and shall name one of them to serve as Chair, who shall be a Director. Those selected for service on this committee shall have a broad background of experience in the field of finance.

4.6(b) Investment Committee. The Investment Committee shall act as the Foundation’s fiduciary relative to the management and investment of gifted assets. The Committee shall, subject to approval of the Executive Committee, select and engage the Foundation’s investment manager(s). In carrying out its oversight, the Committee shall evaluate investment performance of the fund based on comparison of actual returns with the Foundation’s absolute return objective and with such other benchmarks as the Committee or the Board of Directors may select, monitor the performance of the investment manager(s) and their adherence to established policy, recommend specific investment opportunities, guide and counsel the Chair in the management of the Foundation funds, and develop and make recommendations to the Board of Directors regarding asset management of short-term and long-term investment policies and guidelines. Policies established by this Committee must be ratified and approved by the Foundation Board of Directors. Subject to approval of the Executive Committee, the Chair of the Foundation Board of Directors shall appoint annually a minimum of three (3) persons to serve as the Investment Committee and shall name one of them to serve as Chair, who shall be a Director. Those selected for service on this committee shall have a broad background of experience in the field of investments.

4.6(c) Audit Committee. The Audit Committee shall assist the Board of Directors in fulfilling its oversight responsibilities relating to the quality and integrity of the Foundation’s financial reporting processes and accounting practices; the adequacy and effectiveness of its systems of internal controls regarding finance, accounting, and legal and regulatory compliance; and the performance, qualifications, and independence of the Foundation’s independent auditors. In discharging its oversight role, the Committee has the authority to investigate any matter within its area of responsibilities that is brought to its attention, with full access to all of the books, records, facilities, and staff of the Foundation and the power to retain outside counsel, auditors, or other experts as it deems appropriate and as allowed by the Articles of Incorporation and the Foundation Bylaws. Policies established by this Committee must be ratified and approved by the Foundation Board of Directors.

Subject to approval of the Executive Committee, the Chair of the Foundation Board of Directors shall appoint annually a minimum of three (3) Directors, in good standing, and shall name one of them to serve as Chair. Although not all Audit Committee members need be members of the Board of Directors, a majority of the Audit Committee shall be members of the Board of Directors. The committee may include non-Directors, but individuals who are also members of the Finance Committee may not comprise a majority of the Audit Committee. All members should be independent in order to serve on the Audit Committee.

In carrying out its oversight responsibilities the committee shall select and retain an independent auditing firm and review and evaluate the independence and performance of the independent auditor; conduct post-audit review with independent auditors and management; review with management and the independent auditors, the Audited Annual Financial statements; report on the Foundation’s Audited Financials and the Committee’s activities and actions as appropriate to the Board of Directors; understand and monitor policies ensuring legal and regulatory compliance; understand and monitor the quality and integrity of the Foundation’s financial reporting processes and internal controls regarding finance, accounting and legal and regulatory compliance; and perform such other duties or functions required by law or otherwise as are necessary or appropriate to further the Committee’s purposes, or as assigned by the Audit Committee Charter, Foundation Articles of Incorporation and Amendments, Bylaws or the Board of Directors.

4.6(d) The Governance & Nominating Committee. The Governance & Nominating Committee shall assist the Board of Directors in recruitment, screening, orientation, training, and evaluation of new and existing Directors. The Governance & Nominating Committee is charged with compiling and presenting a slate of officers and directors for nomination to the Board of Directors for a vote of approval at the Annual meeting. This committee shall act sufficiently in advance of the Annual Meeting to permit the Secretary of the Foundation Board of Directors to include the Slate of Officers and Directors in the notice of the Annual Meeting. The Governance & Nominating Committee shall be comprised of the Chair of the Foundation who shall serve as committee chair, the Executive Director and a minimum of two (2) additional Directors appointed annually by the Chair of the Foundation Board of Directors, subject to approval of the Executive Committee.

4.6(e) The Real Estate Committee. The Real Estate Committee shall identify and analyze real estate opportunities and gift prospects, solicit real estate prospects, acquire and manage real property or interests in real property and related assets for the benefit of the Foundation and the University. The Committee shall develop policy and provide oversight related to the gifting, receipt and/or sales of real property. Policies established by this Committee must be ratified and approved by the Foundation Board of Directors. Subject to approval of the Executive Committee, the Chair of the Foundation Board of Directors shall appoint annually a minimum of three (3) persons to serve as the Real Estate Committee and shall name one of them to serve as Chair, who shall be a Director.

4.6(f) The Eagle Athletic Fund Committee. The Eagle Athletic Fund (EAF) Committee shall assist the EWU Foundation and the EWU Athletic Department by serving as an advisory committee for both the EWU Foundation and the EWU Athletic Department. The EAF Committee will furthermore support the EWU Foundation by helping raise financial support, awareness and engagement for Student-Athlete Scholarships and the overall Athletic Department needs of Eastern Washington University. The Committee shall develop policy and provide oversight related to the membership of the Eagle Athletic Fund. Policies established by this Committee must be ratified and approved by the Foundation Board of Directors. All Committee members must make a donation to the EAF at the level defined by the EAF Committee Charter.  Subject to approval of the Executive Committee, the Chair of the Foundation Board of Directors shall appoint annually a minimum of two (2) Directors to serve on the EAF Committee and shall name one of them to serve as Chair, who shall be a Director.

4.6(g) The Marketing and Communications Committee. The Marketing & Communications Committee shall assist the Board of Directors by serving as an advisory committee to the EWU Foundation Executive Director/VP University Advancement on strategies related to marketing/branding of the EWU Foundation.

The Committee shall develop policy and provide oversight related to the marketing efforts of the Foundation, offer feedback on marketing strategies, and recommend and/or participate in marketing research and analysis. Policies established by this Committee must be ratified and approved by the Foundation Board of Directors. Subject to approval of the Executive Committee, the Chair of the Foundation Board of Directors shall appoint annually a minimum of three (3) persons to serve as the Marketing and Communications Committee and shall name one of them to serve as Chair, who shall be a Director.

4.6(h) The Fundraising Committee. The Fundraising Committee shall assist the Board of Directors by serving as an advisory committee to the EWU Foundation Executive Director/VP University Advancement on strategies related to fundraising of the EWU Foundation. The Committee shall develop policy and provide oversight related to the fundraising efforts of the Foundation, offer feedback on fundraising strategies, and recommend and/or participate in fundraising research and analysis. Policies established by this Committee must be ratified and approved by the Foundation Board of Directors. Subject to approval of the Executive Committee, the Chair of the Foundation Board of Directors shall appoint annually a minimum of three (3) persons to serve as the Fundraising Committee and shall name one of them to serve as Chair, who shall be a Director.

4.7 Ex-Officio Committee Members. Individuals serving as ex-officio committee members shall not be entitled to vote and shall not be counted for quorum purposes of any committee with the exception of the Executive Committee.

4.8 Special Committees. The Foundation Board of Directors may create such other committees, standing or temporary, and with such powers or duties, as the Board may deem fit. Membership on such committees need not be limited to Directors, but the Chair of such committee shall be a Foundation Director.

5.1 Officers. The Foundation shall have certain officers as set forth herein. Each officer of the Foundation Board of Directors shall have such authority and perform such duties as provided in these Bylaws or as the Board of Directors may from time to time prescribe. Such authority may be general or confined to specific instances and, unless so authorized by the Board of Directors, no officer, agent or employee shall have any power or authority to bind the Foundation by any contract or engagement or to pledge its credit or to render it liable for any purpose or any amount, except for contracts or commitments in the regular course of business of the Foundation executed by an officer within the scope of his or her authority.

5.2 Composition. The officers of the Foundation shall be a Chair, a Vice Chair, a Secretary, a Treasurer and an Immediate Past Chair, each to be a member of the Board of Directors, and each to have such duties or functions as provided in these Bylaws or as the Board of Directors may from time to time determine. No one person shall hold more than one office. The officers shall receive no compensation for their services as officers of the Foundation Board of Directors. 

5.3 Election. Officers of the Foundation Board of Directors shall be elected at the first meeting of the Board of Directors and at the Annual Meeting thereafter, by a majority vote of the Board, excluding ex-officio Directors. With the concurrence of the majority of the Executive Committee, the Chair may fill, on an interim basis, any vacancies of a Foundation officer position, from among eligible Foundation Directors, until the next annual meeting.

5.4 Term. The term of each officer shall be one year or until a successor is chosen; provided, however, the Chair and Vice-Chair shall be elected to a two-year term.

5.5 Duties and Powers. The officers of the Foundation shall have the following responsibilities and duties.

5.5(a) Chair. The Chair of the Foundation Board of Directors shall preside at all meetings of the Board of Directors and the Executive Committee and shall have general supervision of the affairs of the Foundation, subject only to the direction of the Foundation Board of Directors. The Chair may, subject to approval of the Executive Committee, appoint such standing and special committees as he/she deems advisable. The Chair shall be responsible for the general supervision of corporate affairs, but may delegate such duties to other persons as he/she deems advisable.

5.5(b) Duties of the Vice Chair. The Vice Chair of the Foundation shall perform such duties and have such areas of responsibility as the Board of Directors shall prescribe, and will exercise all the powers of the Chair in the event the Chair is unable to perform their duties.

5.5(c) Duties of Secretary. The Secretary shall attend all meetings of the Directors and the Executive Committee, and shall keep, or cause to be kept, in a book provided for the purpose, a true and complete record of the proceedings of those meetings; and shall perform a like duty for all standing committees appointed by the Board of Directors, when required. The Secretary shall be custodian of the records and seal of the Foundation, and see that the seal is affixed to all documents, the execution of which is duly authorized as being on behalf of the Foundation. The Secretary shall also be responsible for authenticating records, attending to the giving and serving of all notices of the Foundation, filing and taking charge of all papers and documents belonging to the Foundation and shall perform such other duties as the Board of Directors shall prescribe.

5.5(d) Duties of Treasurer. The Treasurer shall keep or provide for correct and complete records of account, showing accurately at all times the financial condition of the Foundation.  The Treasurer shall be the legal custodian of all monies, notes, securities, non-cash assets and other valuables that may from time to time come into the possession of the Foundation and shall periodically review accounting procedures for said items.  The Treasurer shall periodically review the procedures for the deposit of all monies in the name of the Foundation in such banks, trust companies and other depositories as shall be selected by the Board of Directors. The Treasurer shall furnish or cause to be furnished at meetings of the Directors, or whenever requested, a statement of the financial conditions of the Foundation, and shall perform such other duties as the Bylaws may provide or the Directors may prescribe. The Treasurer shall furnish or cause to be furnished full and accurate reports of receipts and disbursements to the Board of Directors at the Annual Meeting.

5.5(e) Duties of the Immediate Past Chair. The Immediate Past Chair office is for a term of one year, beginning on the first day of the fiscal year immediately following his/her term as Chair. The Immediate Past Chair shall assist the Chair as needed by performing duties and tasks as assigned by the Chair. The Immediate Past Chair will serve on and attend all Board of Directors and Executive Committee meetings. The Immediate Past Chair will serve on standing committees appointed to by the Chair and approved by the Foundation Board of Directors.

5.6 Special Acts. All checks, drafts, notes, bonds, bills of exchange, and other negotiable instruments, deeds, and contracts of the Foundation shall, unless otherwise directed by the Directors, or unless otherwise required by law, be signed by the Chair, Secretary, Treasurer, or such other Director, excluding ex-officio Directors, specifically authorized to perform such acts by the Board of Directors. The Directors may, however, authorize any one of said officers in writing or by resolution to sign any such instrument without necessity or countersignature. The Executive Committee shall authorize any one or more officers or others specifically designated by resolution to sign any such instrument on behalf of the Foundation under such limitations and control as the Executive Committee shall require.

5.7 Administration. The Foundation Board of Directors may appoint an Administrator to direct and supervise the day-to-day activities of the Foundation, with such powers and duties, for such period of time and at such compensation as the Directors may determine. The Foundation Board of Directors shall terminate or promote the Administrator as they see fit.

Alternatively, the Foundation Board of Directors may contract with the University to employ a University employee to serve as Executive Director with such powers and duties, and for such period of time as the Directors determine.

The Administrator shall report to the Chair of the Executive Committee on all matters affecting the Foundation’s activities.

6.1 General. When there is a University-wide fund-raising campaign in progress (whether publicly announced or not), the Foundation is to be fully involved.  The Foundation should solicit the President of the University to consult with the Foundation’s Officers and the Executive Director in the selection of a General Chair or Co-Chairs for the campaign. It is to be expected that Directors of the Foundation would in many cases accept significant roles in the campaign.

7.1 Indemnification. The Foundation will provide indemnification to the full extent permitted by the Washington Nonprofit Corporation Act. The Foundation will comply with the Eastern Washington University Articles of Incorporation, as stated in the Articles of Amendment in Article XII Indemnification, Sections:

12.1  Right to Indemnification;

12.2  Right of Indemnitee to Bring Suit;

12.3  Nonexclusivity of Rights;

12.4  Insurance, Contracts, and Funding;

12.5  Indemnification of Employees and Agents of the Foundation; and

12.6  Persons Serving Other Entities.

8.1 Rules at Meetings. Robert’s Revised Rules of Order shall govern all meetings of the Board of Directors of the Foundation and any standing committees, special committees or subcommittees therefore, unless in conflict with the laws of the State of Washington, or the Articles of Incorporation or the Bylaws of this Foundation.

9.1 Policy Statements. The Executive Committee shall have the power to create policy memoranda with regard to exercise of the powers of the Foundation in all matters to include without exclusion by reason of enumeration, policies on acceptance of gifts, administration of restricted funds, establishment of scholarship and faculty chairs and in all matters relating to the relationship between the Foundation and the University.

10.1 Fiscal Year. The fiscal year of the Foundation shall begin on the first day of July each year and end on the last day of June one year subsequent.

10.2 Audit and Financial Reports. An independent auditor selected and retained by the Audit Committee and approved by the Executive Committee shall at such time as it may determine, but at least annually, prepare for the Foundation as a whole consolidated financial statement, including a statement of combined capital assets and liabilities, and a statement of income, expenses, and distributions, and a list of projects and/or organizations to or for which funds were used or distributed for charitable purposes, and such other additional reports or information as may be ordered from time to time by the Board of Directors.  The auditor shall also prepare such financial data as may be necessary for returns or reports required by state or federal government to be filed by the Foundation. The auditor’s charges and expenses shall be proper expenses.

10.3 Fiduciary Responsibility; Acting in Good Faith. Each member of the Foundation Board of Directors shall serve in a fiduciary capacity, and shall exercise his/her powers in such manner as not to disqualify any gift from deduction as a charitable contribution, gift, or bequest in computing any federal income, gift or estate tax of the donor or his/her estate, and not to disqualify the Foundation from federal income tax exemption as a qualified charitable organization and/or from classification as a public charity.  Neither the Board of Directors, nor any of its members individually, shall be liable for acts, neglects, or defaults of an employee, agent, or representative selected with reasonable care, nor for anything it may do or refrain from doing in good faith, including the following if done in good faith: Errors in judgment, acts done or committed on advice of counsel, or mistakes of fact or law.

11.1 Amendments. These Bylaws may be altered or amended by a majority vote of the Foundation Board of Directors, excluding Directors ex-officio of this Foundation not entitled to vote, who shall be present at any regular or special meeting of the Board of Directors; provided, a quorum is present, and provided further, that notice of such meeting shall include the substance of proposed amendment to be brought before such meeting. Any proposed amendment shall be submitted in writing to the Executive Director of the Foundation not fewer than 30 (thirty) nor more than ninety (90) days prior to the meeting at which the same is to be considered.  At least ten (10) days prior to such meeting, the Secretary shall mail or cause to be delivered copies of any such proposal to each Director in the manner provided in Section 3.4 of Article III (relating to Notice of Meetings) of these Bylaws.

Certificate of Effective Date

These Amended and Restated Bylaws shall be effective on the 25th day of September, 2018.

Approved and adopted by the Governing Board of Directors of the Eastern Washington University Foundation on September 25, 2018

Adopted

  • May 17, 1994

Amended and Restated

  • February 12, 1999
  • February 18, 2000
  • January 20, 2009
  • June 30, 2009
  • June 22, 2010
  • June 14, 2016
  • December 5, 2017
  • June 12, 2018
  • September 25, 2018

Download Bylaws PDF

Committee Charters

Amended Dec. 2, 2014

The Audit Committee is a standing committee of the Board of Directors.

Download Audit Committee Charter

Rev. May 24, 2011

The Campaign Committee as an ad hoc committee is to provide the key linkage between the organization and the prospective donor/leader community group within the Foundation.

Download Campaign Committee Charter

Approved June 16, 2015

The purpose of the Governance and Nominating Committee of the Board of Directors of Eastern Washington University Foundation is to provide the Board with the director resources that permit the Board to exercise its responsibilities for foundation governance at the highest level of excellence.

Download Governance and Nominating Committee Charter

Rev. July 1, 2014

The Eagle Athletic Fund (EAF) Committee shall assist the EWU Foundation and the EWU Athletic Department by serving as an advisory committee for both the EWU Foundation and the EWU Athletic Department.

Download Eagle Athletic Charter

Adopted April 12, 2016

The purpose of the Executive Committee of the Board of Directors of Eastern Washington University Foundation shall exercise all the powers of the full Board of Directors, subject to the direction and control of the full Board of Directors.

Download Executive Committee Charter

Adopted June 16, 2015

The purpose of the Finance Committee is to ensure that management has in place strategies, budgets and financial plans and programs to enable the EWU Foundation to meet its goals and objectives.

Download Finance Committee Charter

Rev. May 24, 2011

The Investment Committee has overall responsibility for the operation and administration of the Portfolio.

Download Investment Committee Charter

Rev. Feb. 19, 2013

The Marketing & Communications Committee shall assist the Board of Directors by serving as an advisory committee to the EWU Foundation Executive Director/VP University Advancement on strategies related to marketing/branding of the EWU Foundation.

Download Marketing Committee Charter

Rev. May 24, 2011

The Real Estate Committee shall assist the EWU Foundation Board of Directors in identifying and analyzing real estate gift opportunities and prospects, personally soliciting prospects, and in acquiring, developing, and managing real property, or interests in real property and related assets, for the benefit of the EWU Foundation and the University.

Download Real Estate Committee Charter

Rev. May 24, 2011

The Start Something Big Grant Committee has overall responsibility for the management and disbursement of grant funds allocated to support the efforts of faculty and staff and provide opportunities for development and research.

Download Start Something Big Grant Committee Charter

Fees Policy

In accordance with the standards of care and prudence within the Uniform Prudent Management of Institutional Funds Act (UPMIFA), this document outlines the endowment distribution and service fees related to the EWU Foundation (“Foundation”) Endowment Pool and service fees for other noted Foundation accounts.  This policy supersedes any prior adopted policies.

The EWU Foundation operating budget comes from four (4) sources:

  1. An assessment on the three-year rolling average of market value of endowed accounts. The percentage amount is determined annually and applied quarterly.
  2. A one-time gift fee on all non-endowed gifts, estates, retirement plans and life insurance The percentage amount is reviewed annually and applied quarterly.
  3. Unrestricted giving to the EWU Foundation.
  4. Interest on short term investments.

The EWU Foundation strives to utilize a prudent fee structure to fund the cost of operations and provide support to the University. Similar to peer practice, administrative fees are used to fund the tasks associated with pursuing, managing and investing the various types of funds held by the Foundation. These fees provide essential support necessary to EWU Foundation’s overall operation. The fee structure and rates are reviewed annually by the EWU Foundation Finance Committee and approved by the EWU Foundation Executive Committee.

The distribution rate will be reviewed by the EWU Foundation Finance Committee and approved by the EWU Foundation Executive Committee annually in the fall of each year, balancing the two opposing claims – the need for current students, and the obligation to preserve and grow the endowment for future students.

The distribution rate will be calculated monthly as a percentage of the fair market value using a three year rolling average of the unit value. This will be determined December 31, allowing financial aid and departments time to plan the use of the funds that will be available the following July 1.  EWU Foundation practice does not allow for distribution from endowed accounts that are “underwater”.

Earnings available for expenditure will be transferred into a holding account and, if not allocated immediately, will be invested with the Foundation’s short-term investments. If not allocated by the end of the year, the remaining distribution will be added to respective account’s principal, unless the endowment agreement specifies otherwise.

Distribution from new endowment funds may begin only after the fund has reached the minimum amount required and has been invested for a full twelve months prior to the first distribution assessment in December.

A service fee is assessed to the Foundation endowment.  The fee amount will be reviewed by the EWU Foundation Finance Committee and approved by the EWU Foundation Executive Committee annually in the fall of each year and will be assessed quarterly.  This calculation will be based on the 36 month rolling average of the endowment’s market value, which includes earnings identified for distribution but not yet allocated.  The service fee will be assessed/transferred on the schedule noted below.

Assess FeeTransfer Fee
Q1 SeptemberOctober
Q2 DecemberJanuary
Q3 MarchApril
Q4 JuneJuly

The approved gift fee is applied at the time of the gift. This fee is a national best practice and utilized to support fundraising operations on behalf of the university.

The Planned Gift Realization Assessment including estate gifts, retirement plan distributions and life insurance proceeds will follow the same Gift Fee on Non-Endowed Funds.

The historical record of the annual Endowment Distribution rate and Service fees applied have been approved by the EWUF Executive Committee as recorded on the attached Appendix A.

  • Approved, Foundation Executive Committee – December 4, 2008
  • Amended and Approved, Foundation Executive Committee – October 21, 2010
  • Reviewed and Recommended, Foundation Finance Committee – April 27, 2011
  • Approved, Foundation Executive Committee – May 24, 2011
  • Amendment Board Adopted – July 8, 2011
  • Reviewed and Recommended, Finance Cmte. – Sept. 21, 2011 & Approved, Executive Cmte. – Oct. 24, 2011
  • Reviewed and Recommended, Finance Cmte. – Sept. 19, 2012 & Approved, Executive Cmte. – Jan. 15, 2013
  • Amendment Board Adopted – June 18, 2013
  • Amended and Approved, Finance Cmte – October 16, 2013 & Approved, Executive Cmte – Nov.19, 2013
  • Amendment Board Adopted – Dec 3, 2013
  • Amended and Approved, Finance Cmte – October 14, 2015
  • Amended and Approved Finance Cmte – April 13, 2016
  • Amendment Board Adopted – June 14. 2016
  • Reviewed and Recommended, Finance Committee – April 12, 2017
  • Reviewed and Recommended, Executive Committee – May 16, 2017
  • Amended and Approved – EWUF Board June 13, 2017
  • Amended and Recommended Finance Committee – July 26, 2017
  • Amended and Recommended Executive Committee – August 15, 2017
  • Amended and Approved – EWUF Board September 5, 2017
  • Amended and Approved Finance Cmte – April 18, 2018
  • Reviewed and Recommended Executive Committee – May 15, 2018
  • Amendment Board Adopted – June 12, 2018

Gift TypeFY13FY14FY15FY16FY17FY18FY19FY20
Endowed Funds Distribution Rate (annual)4%4%4%4%4%4%4%4%
Endowed Funds Assessment Fee (annual)2%2%2%2%2%2%2%2%
Non-Endowed Funds Assessment Fee (annual)1.2%1.2%1.2%1.2%1.2%1.2%1.2%0%
Planned Gifts Assessment Fee (one time on realized)2%2%3.5%10%10%0%0%0%
Gift Fee (one time on realized non-endowed gifts)N/AN/AN/AN/AN/A5%5%5%

Endowment Distribution & Fees Policy

Last reviewed and approved by the EWU Foundation Board of Directors June 11, 2019

Download Fees Policy PDF

Other Policies & Guidelines

This policy aims to provide an avenue for all members of the Foundation community to raise concerns and reassurance that they will be protected from reprisal for whistleblowing.

Download Whistleblower Policy

The purpose of this annual policy is to protect the Foundation’s interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the Foundation.

Download Conflict of Interest Policy

This policy is used to guide the Foundation’s efforts to adequately protect and preserve critical documents as required by law and business needs and properly dispose of records as appropriate.

Download Retention & Disposal Policy

Policy stating that all personal information concerning alumni, friends, corporations, foundations, donors, former donors, staff, volunteers, financial data, and business records of the Eastern Washington University Foundation is confidential.

Download Confidentiality Policy

Eastern Washington University Foundation Gift Acceptance Policies and Guidelines

Download Gift Acceptance Policy

To ensure the highest possible gift and campaign integrity, all charitable contributions to the EWU Foundation will be counted and recorded into the University Advancement database of record in accordance with the standards set forth by the Council for Advancement and Support of Education (CASE).

Download Campaign Counting Policy

Eastern Washington University Foundation Disbursement Process and Guidelines

Download Disbursement Process & Guidelines

Third Party Events are defined as fund-raising activities developed, implemented, and managed by individuals or groups other than the Eastern Washington University Foundation (EWUF) staff and volunteers with the net proceeds being donated to EWUF.

Download Third Party Event Fundraising Guidelines