The CCSU Foundation, Inc. was created in 1971, at the request of the University, as a vehicle to obtain private contributions to support educational programs and research at Central Connecticut State University. Incorporated under the laws of the State of Connecticut, the nonprofit, eleemosynary organization is governed by an independent Board of Directors which includes members of the faculty, the student body, the alumni, and the general public. The President of Central Connecticut State University is an ex-officio member of the Board of Directors. The Bylaws of the Foundation are available here.
The Foundation solicits private contributions to benefit Central Connecticut State University. Funds are allocated in five major program areas: institutional enrichment, scholarships, academic enrichment, research, and unrestricted. The Board of Directors disburses unrestricted funds to University programs and activities deemed by the Board, in consultation with the President of the University, to be the most worthy. Restricted donations are disbursed according to the terms of the donation.
The relationship between the University and the CCSU Foundation, Inc. is subject to Sections 4-37e through 4-37j of the Connecticut General Statutes, which establishes principles for operation of private foundations which exist to benefit public colleges and universities. This relationship is further defined in an agreement between the Board of Regents for Higher Education and the CCSU Foundation, Inc.
The CCSU Foundation, Inc. is not an entity of the State of Connecticut and as such is not subject to Connecticut's Freedom of Information Act, to routine inspection by the Auditors of State Accounts, or to direct regulation by the State. The Foundation employs independent certified public accountants who conduct an annual audit. An online copy of the Foundation's latest audited financial statements is available here. A copy of the Foundation’s latest Form 990 tax return is available here.
The Foundation is exempt from tax under section 501(c)(3) as a 509a3 Supporting Organization of the Internal Revenue Code.