Foundation exceeds standard for responsible use of gifts

According to the Better Business Bureau’s Wise Giving Alliance for finance standards, when Northwest Missouri State University alumni and friends make a charitable donation through the Northwest Foundation, they can be confident their gift is spent wisely.

The Better Business Bureau is known for providing information on ethical business practices and serving as a trusted intermediary between consumers and businesses. The BBB’s Wise Giving Alliance reviews and reports on national charities, using the 20 BBB Wise Giving Alliance Standards for Charity Accountability. The finance standard for the Better Business Bureau’s Wise Giving Alliance prescribes that no less than 65 percent of total expenses of a charitable organization be spent on charitable programs.

Using this standard, in fiscal year 2008, which ended June 30, the Northwest Foundation exceeded the BBB’s expectations by spending 88 percent of every dollar on University programs. This amounted to $4.7 million, which included more than $627,000 in scholarships and $2.6 million in direct support to Northwest. Furthermore, only 3 percent of the Foundation’s total expenses were fundraising expenses, such as donor cultivation, and 9 percent were management and general expenses, such as auditing services, training and interest expenses.

“The finance standard for the Better Business Bureau’s Wise Giving Alliance seeks to ensure that charitable organizations such as the Northwest Foundation spend their funds honestly, prudently and in accordance with statements made in fund raising appeals,” said Orrie Covert, executive director of the Northwest Foundation. “Not only have we met that expectation, but for the last three years, the Northwest Foundation’s support of University programs has continued to increase while the fundraising portion of our expenses has declined.”

Last month Northwest Foundation officials announced that total private support to the University in fiscal year 2008 topped the $5.5 million mark, making it the third successive year that private support to the Northwest Foundation exceeded $5 million.

For more information about the Northwest Foundation or to make a gift to support Northwest Missouri State University, contact Orrie Covert at covert@nwmissouri.edu or 660.562.0816.

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The Northwest Foundation, a 501(c) 3 not-for-profit corporation, is responsible for receiving, investing, stewarding and disbursing private support on behalf of the donors of Northwest Missouri State University for the benefit of the University, its students, faculty, staff and alumni. The Northwest Foundation, governed by a 29-member volunteer board of directors, is staffed by members of Northwest’s Office of University Advancement.

For more information, please contact:

Mitzi Lutz
Advancement Communications Specialist
Office of University Advancement
Northwest Missouri State University
720 College Ave., Advancement House
Maryville, MO 64468
mitzi@nwmissouri.edu
660.562.0817 (phone)
660.562.1990 (fax)
www.nwmissouri.edu/alumni

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