Funding development, alumni engagement, and donor stewardship at the Northern Oklahoma College Foundation:
Northern Oklahoma College and the Northern Oklahoma College Foundation are committed to being accountable to donors and the campus community by providing timely gift receipts, accurate records, expert management of funds, and efficient disbursement of funds to students, faculty, staff and programs. These efforts are funded through a combination of direct support from the College, earnings on funds invested with the NOC Foundation, and gift management and administrative fees managed by the Foundation.
What are the Northern Oklahoma College Foundation’s fees?
Administrative Fee – 5% on all new monies received by the Foundation
Management Fee – 1.5% annually assessed on all permanently restricted endowment funds held by the Foundation calculated on the endowed market value balance held by the fund each December 31st (Calculation Date).
No interest will be credited to non-endowed funds maintained in pass through accounts. This includes, but is not limited to, designated scholarships, departmental or program funds. Any interest earned on these accounts will go to the Foundation as a Management Fee to compensate the Foundation for the administration of these funds.
Why does the Northern Oklahoma College Foundation have administrative fees?
The fees provide the necessary resources to grow relationships with alumni, donors and volunteer leaders through events, programs, stewardship activities, networking opportunities, and publications; to manage the funds donors contribute to benefit the College by collaborating with expert fund managers; and to expand support to the College through meaningful campaigns and fundraising strategies. By assessing fees, the Foundation can grow resources necessary to sustain and enhance the College experience. The Foundation utilizes the 5% administrative fee to support increased outreach, which will ultimately expand the amount of private support directed toward the College. The 1.5% management fee supports the Foundation’s professional stewardship and management of all funds and will be used to support the Foundations operating budget beginning July 1st of the next fiscal year after the Calculation Date and will be transferred annually
What about support from the state?
As a public institution, the College receives approximately 40 percent of its total operating budget from the State of Oklahoma. A majority of the College’s budget is sourced from tuition and fees, federal and state grants and contracts, federal student aid, and revenue from sales and services. Administrative fees allow the Foundation and the Office of Alumni, Development and Community Relations to reduce its reliance on direct funding for its operations from the College, thus freeing College funds for educational purposes.
Will the administrative fees generate all of the resources necessary to build capacity?
No. The administrative fees will generate some of what the College and Foundation will need to realize the potential of its fundraising, alumni and outreach operations. As fundraising efforts reach more alumni and friends, the Foundation will be able to invest more in Institutional Advancement while at the same time build its endowment.
Do other similar organizations charge administrative fees?
Yes. Administrative fees are common throughout the country. Several non-profit organizations in Oklahoma as well as many across the country use administrative fees to fund their advancement and development efforts. The Foundation conducted careful research and benchmarked against several in-state and out-of-state colleges and universities to make sure the Northern Oklahoma College is following accepted best practices.