The University of West Georgia Foundation
The University of West Georgia Foundation, Inc. (Foundation) is a Georgia charitable corporation. It receives and manages private contributions (gifts) made for the benefit of the University of West Georgia. The Foundation has been recognized as an organization exempt from Federal Income Tax under section 501(c)(3) of the Internal Revenue Code, and gifts to the Foundation are deductible as provided for in section 170 of the Internal Revenue Code. The Foundation encourages both restricted (specific purpose) and unrestricted (general use) gifts from donors.
The Foundation's Board of Trustees is composed of business, professional, and community leaders plus officers elected by the Board. The Board establishes and provides oversight of the Foundation's operating financial policies and procedures. In addition, the Foundation is committed to provide for the integrity of original corpus (principal) dollars plus assure that all fiduciary commitments made to the Foundation's donors are honored for the life of their agreements. The officers and trustees of the Foundation are committed to a policy of full-disclosure.
The Board of Regents of the University System has recognized that gifts and income from endowments that provide for the private support of system institutions are not taken into account when determining the allocation of state funds to the institution. The Board of Regents recognizes that all of its institutions are dependent, in part, on private funding and encourages all of its institutions to seek the support of alumni, friends, corporations, and other private organizations.