Overview
What is The University Of Tennessee Foundation Inc?
The University of Tennessee Foundation Inc, located at 1525 University Avenue Room 223, Knoxville, Tennessee, is a nonprofit organization dedicated to enhancing the lives of students, faculty, staff, alumni, and friends of the University of Tennessee. Through financial stewardship, alumni engagement, and private gift support, the foundation transfers earnings from invested endowment funds to the university for academic purposes, including scholarships, fellowships, libraries, research, and other projects. Additionally, the foundation covers construction, renovation, and various other costs using restricted gifts from donors. The organization, with a employee count of 294, plays a crucial role in supporting the University of Tennessee community.
Official website here: www.utfi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 100% - Four-Star out of Four Star rating
The University Of Tennessee Foundation Inc has achieved a perfect score of 100% on Charity Navigator, reflecting its strong accountability and finance practices. This high rating is primarily based on their solid financial management and transparency, demonstrating a commitment to responsible stewardship of donor funds. The organization boasts a fully independent board and adheres to rigorous auditing standards, ensuring no diversion of assets has occurred.
Strengths of the foundation include its comprehensive policies for conflict of interest, whistleblower protection, and document retention, all of which are publicly accessible on its website. Additionally, the organization has a high program expense ratio of 70.98%, indicating a significant portion of funding is directed towards its programs rather than administrative costs. Their fundraising efficiency is commendable, with no costs incurred in fundraising, showcasing operational effectiveness.
While the foundation's rating is exceptionally high, potential donors should note that ongoing engagement and updates to their transparency practices remain important for maintaining trust. Overall, The University Of Tennessee Foundation Inc represents a responsible choice for donors looking to support a well-managed nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is The University Of Tennessee Foundation Inc legitimate?
The University Of Tennessee Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The University Of Tennessee Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $6,279,999
Professional Fundraising Fees: $51,579
Other Salaries and Wages: $25,037,616
For more financial information, click here
Official website here: www.utfi.org
What is the mission statement of The University Of Tennessee Foundation Inc?
The University of Tennessee Foundation Inc enriches the lives of students, faculty, staff, alumni, and friends of the University of Tennessee through alumni engagement, financial stewardship, and private gift support. The foundation transfers earnings from invested endowment funds to the university for various academic purposes, such as scholarships, fellowships, libraries, and research. Additionally, the foundation covers the costs of construction and renovation projects using funds from restricted gifts donated by benefactors.
Official website here: www.utfi.org
What is the revenue of The University Of Tennessee Foundation Inc?
The University Of Tennessee Foundation Inc's revenue in 2023 was $211,789,117.
Official website here: www.utfi.org
Who are the executives of The University Of Tennessee Foundation Inc and what are their salaries?
The average compensation at The University Of Tennessee Foundation Inc during 2023 was $122,334. There are 256 employees and 2700 volunteers at The University Of Tennessee Foundation Inc.
Here are 49 key members and their salaries:
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- Other: $64,113
- Compensation: $141,094
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- Other: $30,830
Official website here: www.utfi.org
Where can I find the form 990 for The University Of Tennessee Foundation Inc?
The University Of Tennessee Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.utfi.org
Learn more at the official website: www.utfi.org
Mission Statement of The University Of Tennessee Foundation Inc
The University of Tennessee Foundation Inc, a notable organization, enriches the lives of students, faculty, staff, alumni, and friends of the University of Tennessee. It achieves this mission through three key areas: alumni engagement, financial stewardship, and private gift support.
By fostering alumni engagement, the Foundation builds a strong connection between the University and its graduates. This engagement creates opportunities for networking, professional development, and academic advancement. Alumni are encouraged to stay involved with their alma mater, fostering a sense of pride and loyalty.
Financial stewardship is another crucial aspect of the Foundation's mission. Earnings from invested endowment funds are transferred to the University of Tennessee, primarily for scholarly purposes. These funds contribute to the university's academic growth by supporting scholarships, fellowships, libraries, research, and other academic initiatives. Additionally, restricted gifts from donors are paid to the university to cover costs related to construction, renovations, and various projects.
In summary, The University of Tennessee Foundation Inc plays a vital role in enhancing the lives of students, faculty, staff, alumni, and friends of the University of Tennessee. Through strategic investment and dedicated stewardship, the Foundation supports the university's academic achievements and fosters a strong sense of community among its stakeholders.
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Impact
October, 2024
The University of Tennessee Foundation Inc significantly enhances the educational experience and opportunities for students, faculty, staff, alumni, and other members of the university community. By fostering alumni engagement, the foundation cultivates a strong network that supports the university's mission and initiatives.
Through diligent financial stewardship and the management of private gift support, the foundation ensures that donor contributions are maximized and aligned with their intended purposes. This commitment is evidenced by the transfer of earnings from invested endowment funds directly to the University of Tennessee, facilitating scholarships, fellowships, and essential resources for libraries and research, thereby enriching academic pursuits.
Additionally, the foundation plays a crucial role in funding construction and renovation projects, ensuring that the university’s physical infrastructure meets modern educational needs. This support not only helps maintain and enhance campus facilities but also creates an environment conducive to learning and growth.
Overall, the University of Tennessee Foundation Inc acts as a vital bridge between generous donors and the university community, driving impactful initiatives that elevate the educational landscape in Tennessee and beyond.
This information is meant to be a general summary of The University Of Tennessee Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $29,563,424
- Gross Receipts: $211,789,117
Assets and Liabilities:
- Total Assets: $780,706,685
- Total Liabilities: $31,044,510
- Net Assets: $749,662,175
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Organization Details
Founding Year
2001
Principal Officer
Kerry W Witcher
Website
www.utfi.orgNTEE Category
Code: B11 - Education
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