Intercollegiate Athletics Policy Manual
6.00 Development
6.02.1 Fundraising - Longhorn Foundation
FUNDRAISING: LONGHORN FOUNDATION
[Annual Giving and Special Fundraisers]
The Longhorn Foundation was established to receive gifts and donations on behalf of the Department. As a principal fundraising arm of the Department, it is responsible for administering the annual giving campaign, premium seats and suites, capital gifts, and planned gifts and endowments.
All Foundation fundraising activities are coordinated by the Senior Associate Athletics Director for Development in accordance with State, Departmental, University, Big 12 Conference and NCAA rules and regulations. Further, the Foundation complies with the Internal Revenue Service guidelines concerning non-profit fundraising entities and is classified a 170-C1 organization. Contributions and gifts are not to be accepted by Departmental staff members without the express approval of the Director of Athletics.
Longhorn Foundation Advisory Council
The Foundation's Advisory Council is made up of approximately 125 members, business men and women from Texas and throughout the United States, who have an interest in helping the University of Texas achieve its stated goals. The Advisory Council meets twice each year. Advisory Council members are recommended by the Senior Associate Athletics Director for Development and approved by the Director of Athletics based on their areas of expertise and the recommendations of Executive Staff and Foundation staff. Members serve three (3) year terms which are staggered to allow one-third (1/3) of the board to be replaced annually. A small percentage of the Council is made up of lifetime members who have achieved that position through their dedication to the University and the Department of Intercollegiate Athletics.
Fundraising Activities
Fundraising is vital to the success of the athletics program. Funds raised from outside contributions support athletic scholarships, student-athlete tutoring and advising programs, the intercollegiate sports programs, and renovation and construction of athletic facilities.
Funds are solicited by the annual giving program, capital campaigns, and development programs as required and directed by the Director of Athletics. Special events are approved by the Director of Athletics (such as golf tournaments) with the net proceeds benefiting the department of athletics. Longhorn Clubs, in major donor areas, are an additional arm of support for the fund raising programs. All funds and mailings are managed by the Longhorn Foundation staff. Funds are deposited in University Accounts in accordance with required policy and procedures.
All contributions to the athletics program are tax exempt to the extent allowed by law. Upon receipt, contribution checks are processed and deposited through the University of Texas Cashier's Office, as appropriate. Acknowledgment letters are mailed to donors from the Longhorn Foundation Office and the gift/contribution information is entered into the Office’s computer program.
Gifts-in-Kind
The Department accepts contributions of real property, appreciated securities, and tangible personal property (a.k.a., Gifts-in-Kind) based on specific criteria developed by The University of Texas. Staff members are not permitted to accept any gifts of goods or services without first obtaining the approval by the Directors of Athletics. This policy includes acceptance of items that are given with no expectation of benefit or recognition for the gift.
Types of Funds
The Foundation accepts funds in compliance with the donor’s wishes, to include, but not limited to, the following:
- Principal and Capital Gifts
The Department actively solicits endowment funds for their athletic scholarships. Endowment funds are donations to which the donors have stipulated that the principal of the account is to be maintained in perpetuity.
The Foundation is responsible for ensuring that all donations are disbursed and administered in compliance with the donor's stated wishes (i.e., specific departments, scholarship funds, capital programs, and sports programs). Expendable funds are non-interest-bearing funds; the total amount of the fund is to be spent for a specified purpose.
- Restricted and Non-Restricted Funds
Restricted donations are given for specific use and are accepted by the Department with the approval of the Directors of Athletics and according to guidelines established by the Board of Regents.
Non-restricted gifts are given to be used at the Department’s discretion and accepted with the approval of the Directors of Athletics and according to guidelines established by the Board of Regents.
Athletic Account Procedures
In order to ensure that Departmental fundraising operations are ethical and appropriate, it is vital that close communication exist between the Foundation and all Departmental and University activities for which it receives and administers funds.
Donations received by the Longhorn Foundation which are posted according to Foundation procedures and deposited with the University Cashier. (For additional information see Section 10, Finance and Business: Receipt, Custody and Deposit of Funds in this Policy Manual.)
The Foundation coordinates all benefits related to the annual solicitation of donor contributions (e.g., ticket and parking priorities, etc.) with the Athletics Ticket Office, and acknowledges receipt of the donation in the form of a letter to the actual entity donating the funds. Additionally, in conjunction with tax requirements, the University provides a tax receipt to each donor summarizing the value of all provided benefits.
Coaches' Responsibility in Fundraising
Each sports program benefits, either directly or indirectly, from donor activities. Therefore, coaches should feel an individual obligation to actively assist the Department with its fundraising operations.
In order for the Department to take advantage of all fundraising opportunities, coaches should always inform the Foundation Office of luncheons, banquets and alumni gatherings to which they have been invited. The fundraising potential of the appearance can then be assessed.
Additionally, coaches are encouraged to assist the Foundation Office in developing "prospect" lists (i.e., names of potential donors) from contacts they have made with interested friends and alumni. A solicitation effort is then undertaken to recruit these individuals.
Lastly, coaches with lists and/or files of lettermen or past athletes and/or interested alumni are asked to share these names and addresses with the Foundation Office for inclusion in the computer mailing list database.
last updated: February 11, 2009