OLR Report 2015-R-0073 provides the (1) Freedom of Information (FOI) requirements, (2) fundraising duties, and (3) total fundraising revenue secured in the past three to five years, of four university foundations in comparison to UConn’s foundation. The foundations include the University of Florida Foundation, the University of Georgia Foundation, the Iowa State University Foundation, and the Ohio State University Foundation.
While Connecticut law specifically exempts public university foundations from the state’s FOI laws, the other states provide broad to limited exemptions. Generally, the exemptions cover donors’ and prospective donors’ identities and personal financial records, but the laws vary in terms of which specific records they exempt from disclosure.
Each foundation serves as its related institution’s primary fundraising arm. Managing university endowments; overseeing private gifts and grants from alumni, partnerships, corporations, and trusts; and providing fundraising services are some of the main responsibilities of these foundations.
According to foundation audit reports, financial statements, and official websites, the average contribution secured by each foundation in the past three to five fiscal years ranges from $37.5 million to $160 million.
