July 29, 2020—Wright State University Foundation helps university during challenging times
The foundation takes an important step in reducing its reliance on Wright State for operating support
During the COVID-19 pandemic, higher education is facing unprecedented challenges and Wright State University is no exception. To help the university focus more of its resources on its core academic mission, the Wright State University Foundation Board of Trustees recently approved a five percent Gift Administration Fee on all non-endowed gifts.
The fee will allow the Wright State University Foundation, which is a separate 501(c)3, to begin reducing its reliance on university funding for its operations. Revenue from the fee will help offset the foundation’s cost of doing business, which includes fundraising, donor stewardship, and gift management.
“Discussions about implementing a gift administration fee have been underway for several years now,” said Scott Rash, president and CEO of the Wright State University Foundation. “With the university’s desire to focus more of its resources on its core academic mission, which is being challenged by the COVID-19 pandemic, this is the right time to move forward. By providing less funding to the foundation for fundraising operations, the university can now shift these much-needed dollars into supporting and educating Wright State students.”
According to Bill Bigham, interim vice president for advancement, implementing an administration fee on gifts is a common practice by various foundations for institutions of higher education, both nationally and in Ohio.
“The fee will help us to continue to provide a high-quality experience for all of our donors,” said Bigham. “Our donors have been incredibly generous in supporting our students, and we want to ensure that they receive the very best in both service and accountability.”