ENDOWMENT SHORTFALL
You are most likely aware of the economic challenges we are all facing. The subsequent decline in stock market values is having a dramatic impact on the value of our endowment. In fact, the market value of a large percentage of our endowed funds established within the last 4 years has dropped below the book value and laws prohibit us from spending from any funds that fall under this category.
The income we receive from endowments is vital. In the past, endowment income has been used for scholarships, fellowships, professorships, programs and other academic enhancements. A majority of our students rely heavily on these funds to remain in school and ultimately successfully achieve their academic objectives. Moreover, to effectively compete for talented students, universities are even more pressed to provide scholarship support to these very deserving young people.
As we begin to plan for the upcoming academic year, we are experiencing a significant shortfall in endowment income. Please consider making a gift to help us provide more scholarship support to these very talented students. Make checks payable to the, NCCU Foundation, PO Box 2511, Durham, NC 27703. (Please reference: “Bridge gift” on the memo line.)
If you have any questions, contact the Office of Institutional Advancement @ 919-530-7785.
Thank you in advance for your support!
Why does a public university like NCCU need my support?
NCCU is a state funded school. The state of North Carolina provides funding to help us conduct business. However, the funding provided by the school does not meet the cost of running the university. Central relies on alumni, parents, friends, corporations, foundations and other donors to help make up the difference and provide an impactful educational experience at NCCU.
Can I designate my gift to a particular school, department or program?
Yes. The university offers an enormous variety of academic programs, co-curricular experiences, athletic programs, research endeavors and community-oriented projects to which friends and alumni can make gifts. Donors may also provide unrestricted gifts for the university to allocate to areas with the greatest need.
Can my gift make a difference?
Although it might seem like a gift of $25 or $100 wouldn't have that much impact, every gift adds to the total pool of funds available to the university or to a department. If 10 donors give $100, a seemingly small donation can have a big impact. These kinds of donations can allow many students to earn an education who might not be able to otherwise.
Is my gift tax deductible?
Gifts to the university are tax deductible under current IRS regulations. Our staff can discuss the potential impact of your gift on your overall tax picture. We do advise, however, that you consult your personal legal and financial advisors regarding specifics of your financial situation.
Who supports NCCU?
North Carolina Central University is very grateful for the generous support of alumni, friends, parents, corporations, foundations and organizations. Everyone has the opportunity to make an impact at NCCU!
How can I make a gift to the university?
There are numerous ways in which alumni and friends can make gifts to NCCU. Gifts can be made in the form of cash, check or credit/debit cards, stock transfer, gift-in-kind, or in a variety of planned gift scenarios. For more specific information on how you can make your gift, please contact NCCU Institutional Advancement.
Why was the NCCU Foundation created?
The NCCU Foundation was created as a 501©3 to handle the private donations to NCCU. If private donations are given directly to the university, they must be used according to state laws, because NCCU is a member of the University of North Carolina state system. The purpose of the Foundation is to foster and promote the growth of higher education in North Carolina and specifically, North Carolina Central University.
How are my funds invested in the Foundation?
The finance committee of the Foundation has selected Deutsche Bank to manage the funds of the Foundation in accordance with its investment policies. Investments are allocated in several areas such as large capital-value, large capital-growth, small capital-value, small capital-growth, international, and fixed income.
What is the minimum level of an endowment and how much of it can be spent?
For a permanently restricted endowment, the minimum contribution is $25,000. This is due to the necessity of the investment income to be spent in such a manner that is benefits current and future generations. A spending policy related to the market value of a permanently restricted endowment is also adhered to so it will be available for future generations. For a temporarily restricted endowment, the minimum is $15,000, and it can be totally expended once a need aligned with it's purpose is identified.
