The University of Arkansas Foundation, Inc., is a non-profit corporation created under and by the laws of the state of Arkansas. The corporation is exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code of 1986. The primary purpose of the Foundation is to advance higher education by securing private financial support for all units and activities of the University of Arkansas. To that end the Foundation is authorized to receive, hold, invest, manage and control property which may be acquired by the Foundation, and to distribute or use such assets for the benefit of the University of Arkansas campuses in accordance with the purposes stipulated by the donors, grantors, or testators.The Foundation values each donor and each gift. We will disclose fully to donors and prospective donors the policies and programs of the Foundation, but will keep confidential those matters requested by donors.
RELATION OF FOUNDATION TO UNIVERSITY OF ARKANSAS SYSTEM
Although the University of Arkansas Foundation, Inc. is the primary avenue of giving to support academic programs at campuses of the University of Arkansas system, there are other organizations through whom donations may be received. On some campuses, the alumni associations accept donations for the support of various activities, and the Razorback Foundation, which is separate from the University of Arkansas Foundation, is the major fund raiser for intercollegiate athletics on the Fayetteville campus.
The University of Arkansas Foundation is governed by a twenty-two member board of directors. Four directors are appointed by the University of Arkansas Board of Trustees and four members are appointed at-large by the University of Arkansas Foundation Board. The remaining board members are appointed in accordance with the Foundation’s bylaws by the volunteer advancement groups serving at the campus or division level.