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.
Mark Thompson ’86 CBPA
Vice President/Commercial Banking Officer
Statement of Investment Policy
Approved June 9, 2020
Certificate of Effective Date
These Amended and Restated Bylaws shall be effective on the 9th day of June 2020. Approved and adopted by the Governing Board of Directors of the Eastern Washington University Foundation on June 9, 2020.
- 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
- June 9, 2020
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.
Approved June 9, 2020
The purpose of the Finance and Audit Committee is to assist the EWU Foundation Board of Directors in fulfilling its fiscal oversight responsibilities.
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.
Rev. May 24, 2011
The Investment Committee has overall responsibility for the operation and administration of the Portfolio.
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.
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:
- An assessment on the three-year rolling average of market value of endowed accounts. The percentage amount is determined annually and applied quarterly.
- A one-time gift fee on all non-endowed gifts, estates, retirement plans and life insurance proceeds. The percentage amount is reviewed annually and applied quarterly.
- Unrestricted giving to the EWU Foundation.
- 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. For the December calculation the fee assessment will happen after earnings identified for distribution have been removed but not yet allocated.
|Assess Fee||Transfer Fee|
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
- Amended and Recommended Finance Committee –February 7, 2020
- Amended and Recommended Executive Committee – February 11, 2020
- Amendment Board Adopted – April 7, 2020
|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/A||N/A||N/A||N/A||N/A||5%||5%||5%|
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.
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.
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.
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.
Eastern Washington University Foundation Gift Acceptance Policies and Guidelines
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).
Eastern Washington University Foundation Disbursement Process and 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.