Annual Report

Foundation President's Message

Russel B. Newton III

The outstanding relationships between the University of North Florida and its donors are a source of pride to me and to other members of the UNF Foundation.

Given the record of accountability the UNF Foundation has maintained for 35 years, it’s difficult for me to understand national news reports concerning universities embroiled in controversies with donors.

In these national cases, the donors allege that the particular university has strayed from the original intent of the gift and funded non-related projects with their money. In some cases expensive legal battles have resulted in an effort to resolve these disputes.

At UNF every major donor negotiates a clear and concise gift agreement with the Foundation. The agreement specifies exactly how the individual’s donation is to be applied whether for scholarships, professorships, capital improvement or other projects. Annually every donor who has created an endowment with the Foundation receives a report which specifies growth and expenditures in their particular account.

It is not uncommon for donors to become interested in new opportunities in ensuing years. The Foundation and staff of Institutional Advancement are always flexible and work with donors to achieve their dreams with new or revised gift agreements.

On a day-to-day basis, staff members and fund managers throughout the University constantly monitor expenditures from various accounts to verify they are in compliance with the intent of the donor.

All of these measures demonstrate how accountability is one of the guiding principals at UNF. Our commitment to accountability assures that the UNF Foundation will always be there to assure your gifts are expended for the purposes intended.

The UNF Foundation is most grateful for support from its alumni and friends. Thank you for your continuing interest in education.

Russell B. Newton III, President,
UNF Foundation

2006-2007 Annual Report

Accountability[pdf]