SMU Annual Report 2002-03 - Saint Mary's University of Minnesota

Minnesota Private College Fund
2002-2003 Benefactor Report
THE MINNESOTA
PRIVATE COLLEGE
FUND
The Fund draws support from
foundations, businesses and certain
individuals for our 17 private colleges
and universities to launch the lives and
careers of talented Minnesota scholars.
The Fund is a pass-through organization
— every dollar raised goes to member
schools and their students. Since its
inception, fifty-one years ago, the Fund
has cumulatively raised nearly $70
million.
By way of a federated appeal, the Fund
raises money for three purposes:
• General operating support, which is
the most difficult funding for
campuses to raise — but is absolutely
essential to pay for books, lab
equipment, computers, maintenance
etc.
• Scholarship dollars, to provide
students from low- and middleincome
families the means to obtain a
quality college education. Fund
scholarships assist 500 students each
year.
• Five Special Named Scholarship
Programs, which are funded by
donors who offer generous
scholarships to 140 students annually,
many of whom are students of color,
non-traditional students or students
from low-income families.
FUND FAQs
What is the Fund?
The Minnesota Private College Fund
provides visibility and critical support to
the development efforts of 17 member
private colleges and universities. The
Fund raises general operating and
scholarship money from foundations
and businesses through a federated
appeal — a single gift helps all
seventeen member campuses and their
53,000 students.
Are gifts to the Fund
tax-deductible?
YES! In most cases, your entire
contribution is tax-deductible. The
Minnesota Private College Fund is a taxexempt,
nonprofit Minnesota
corporation. Please get the advice of a
tax professional to determine the total
amount that can be deducted. A written
acknowledgment will be provided for
tax purposes. If goods or services are
provided in exchange for a contribution,
the donor will receive a receipt that
includes a good-faith estimate of the
value of the goods and services that are
not tax-deductible.
Who supports the Fund?
Funding is requested from foundations
and businesses. The Fund does not
formally solicit individuals for financial
support although gifts are accepted from
those wishing to participate. For
example, 100 percent of our board of
directors contributes to the Fund. The
Fund’s base of over 350 donors value the
efficiency of receiving one request on
behalf of all 17 schools and then
supporting them all with a single gift.
The Fund operates seven regional
campaigns which rely on regional
chairpersons and a statewide network of
volunteers from businesses, community
organizations as well as our private
colleges and universities.
How are funds distributed?
The Fund is a passthrough organization
— every dollar raised goes to member
schools and their students. Unless
otherwise designated by the donor, 60
percent of each gift is divided equally
among the schools and 40 percent is
divided based on enrollment.
What is the Fund’s
fiscal/campaign year?
The Fund’s annual campaign runs from
July 1–June 30. This parallels our fiscal
year, as well as the academic year of
many of our member institutions.
Who manages the Fund?
A board of directors, consisting of
business and community leaders and the
presidents of the member colleges and
universities, governs the Minnesota
Private College Fund. A small, missiondriven
staff of professionals carries out
day-to-day activities of the Fund. For a
list of our board of directors and their
affiliations, information on the Fund
staff, or further information about the
Fund, visit our website at
www.mnprivatecolleges.com.
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