West Texas A&M University

Accountability 

Checks and Balances

Numerous checks and balances exist to ensure the financial integrity of the Foundation.

Board of Directors
Our board of directors consists of 25 volunteers, each with extensive business experience. These individuals determine our investment and fund-raising policies and approve our annual budget. 

External Audits
The Foundation is audited annually by an external auditor. We print our financial statements in our annual report and provide complete copies to the public on request. 

Gift Administration
We regulate the use of gifts through numerous internal and external controls. Several Foundation and University administrators must approve of every disbursement. In addition, each account administrator can access monthly statements documenting activity for gift accounts. 

Partnership with the University
Several factors ensure the Foundation focuses on the University's funding priorities. We maintain a direct line of communication with the WTAMU President, Dr. J. Patrick O'Brien, and Vice President of Business and Finance, Gary Barnes. Both of these men serve as ad hoc members of the Foundation's board of directors. The University serves as fiscal agent for the Foundation.

Endowments

In addition to fund raising, the Foundation manages gifts made to benefit West Texas A&M University. We manage gifts of all types and sizes, but our financial focus is on managing major gift endowments. Endowments are permanent gifts. The Foundation invests them and disburses the investment income for the purposes donors designate. In this way, endowments remain forever, benefiting generation after generation of faculty and students.

Donor Bill of Rights

Philanthropy is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To assure philanthropy merits the respect and trust of the general public and that donors and prospective donors can have full confidence in the not-for-profit organizations and causes they are asked to support, we declare that all donors have these rights:

  1. To be informed of the WTAMU Foundation's mission, of the way it intends to use donated resources, and of its capacity to use donations effectively for their intended purposes.
  2. To be informed of the identity of those serving on the WTAMU Foundation governing board, and to expect the board to exercise prudent judgment in its stewardship responsibilities.
  3. To have access to the WTAMU Foundation's most recent Annual Report.
  4. To be assured their gifts will be used for the purposes for which they were given.
  5. To receive appropriate acknowledgement and recognition.
  6. To be assured that information about their donations is handled with respect and with confidentiality to the extent provided by the law.
  7. To expect that all relationships with individuals representing WTAMU will be professional in nature.
  8. To be informed whether those seeking donations are volunteers or WTAMU employees.
  9. To have the opportunity for their names to be deleted from mailing lists.
  10. To feel free to ask questions when making a donation and to receive prompt, truthful, and forthright answers.

 

The West Texas A&M University Foundation endorses the text of this statement in its entirety as developed by the American Association of Fund-Raising Counsel (AAFRC), Association for Healthcare Philanthropy (AHP), Council for Advancement and Support of Education (CASE), and Association of Fundraising Professionals (AFP).