Purdue Transfers Fundraising Functions
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPurdue University has announced a plan to streamline fundraising efforts. The executive committee of the school's board of trustees has approved transferring its investment and fundraising functions to the Purdue Research Foundation. November 1, 2013
News Release
WEST LAFAYETTE, Ind. – The Executive Committee of Purdue University's Board of Trustees on Friday (Nov. 1) approved the transfer of its fundraising and investment offices to Purdue Research Foundation.
The move, which becomes effective Jan. 1, puts Purdue in alignment with its peer institutions. Currently, nine schools out of 14 in the Big Ten conference have separate fundraising foundations. In Indiana, the other large public schools – Indiana University, Ball State, Indiana State and Ivy Tech – have foundations to support development activities.
The decision follows a review by Purdue University and Purdue Research Foundation conducted over the past several months with a goal to enhance the foundation's role as a supporting organization for Purdue. The study found that the move provides:
-An avenue to support long-term sustainability because one organization will now solicit, process and steward all gifts. Currently, gifts such as real estate involve a thorough, time-intensive process through the foundation and the university. The move of fundraising to the foundation will simplify that process.
-Potential efficiencies through administrative synergies and streamlining of processes within the University Development Office and the Office of Investments.
-Positive outcomes that include the consolidation of the development and investment functions to create a singular focus on raising funds and maximizing returns on investments.
The 160-plus people working in the Purdue development and investment offices will be able to transfer their length of service and equivalent benefits to the Purdue Research Foundation.
The move is consistent with other current initiatives of the foundation, which is a private, nonprofit entity created to advance the mission of Purdue. Established in 1930, the foundation accepts gifts, administers trusts, funds scholarships and grants, and acquires property on behalf of Purdue. Services provided by the foundation benefit the university's academic endeavors and support economic development initiatives. The foundation manages the Purdue Office of Technology Commercialization, which operates one of the most comprehensive technology transfer programs among leading research universities in the United States. The foundation oversees the Purdue Research Park, which is the largest university-affiliated business incubation complex in the country.
In other business, the Executive Committee, acting on behalf of the Board of Trustees, ratified the appointment of Amy Noah as vice president for development. She will continue to serve in that role with the Purdue Research Foundation after the Jan. 1, 2014, transition. Similarly, Scott Seidle will transfer to PRF with the Office of Investments and continue to serve as chief investment officer.
Source: Purdue University