Educational Institutions

University of Oklahoma Foundation Inc.

  • Norman, OK
  • https://www.oufoundation.org/portal

Mission Statement

The University of Oklahoma Foundation is an independent not-for-profit corporation that encourages and supports charitable giving for the benefit of the University of Oklahoma. The Foundation acts as the principal organization through which those gifts are made and administered for the benefit of the University. The sole reason for its existence is to serve the University of Oklahoma and the generous donors who support the University.

Main Programs

  1. Scholarships
  2. Support OU Faculty
  3. OU President's Associates
Service Areas

Self-reported

Oklahoma

ruling year

1955

Principal Officer since 2007

Self-reported

Guy Patton

Keywords

Self-reported

OU, OU Foundation, University of Oklahoma Foundation

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EIN

73-6091755

 Number

5217254571

Contact

Cause Area (NTEE Code)

Single Organization Support (B11)

University or Technological (B43)

Fund Raising and/or Fund Distribution (B12)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

The intent of the University of Oklahoma Foundation is to be a powerful catalyst to the University in the accomplishment of its vision of excellence in higher education Furthermore, given the challenges facing higher education in the US, the Foundation has an even greater opportunity to be an agent of change for more effective fundraising, more efficient administrative processes, and improvements in transparency.

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

Scholarships

Increasing unrestricted scholarshipsUnrestricted scholarships give OU's financial aid counselors the most flexibility in directing scholarship funding to both the most deserving students and those with the greatest need.Sustaining the Sooner Heritage Scholarships ProgramThis program is geared for middle-income students who don't benefit from government aid available to low-income students. The Campaign seeks endowment-level gifts as well as annual gifts of $700 for named Sooner Heritage Scholarships.

Category

Education, General/Other

Population(s) Served

Adults

Budget

$15,000.00

Program 2

Support OU Faculty

Private gifts to establish endowed faculty chairs and professorships are key to recruiting, retaining, and rewarding outstanding faculty. Endowed faculty positions are supported by an endowment in perpetuity. The fund is maintained in secure investments by the University of Oklahoma Foundation Inc. Positions can be created in a favorite college, school, program, or interdisciplinary area of interest and may be named for the donor or as the donor wishes.Three options for donors in endowing faculty positions are as follows:Endowed Chairs. Funded with a gift of $1 million. The most prestigious of the faculty endowments, these are awarded to help recruit top professors to OU and to retain our best teachers and researchers. The $1 million endowment will generate about $50,000 a year, which can be used to supplement the professor's salary and support his/her scholarly activities.Endowed Professorships. Funded with a gift of $500,000. These are awarded to help recruit promising young professors to OU and to retain valued teachers and researchers. The $500,000 endowment will generate about $25,000 a year, which can be used to supplement the professor's salary and support his/her scholarly activities.The Presidential Professorship Program is one of President Boren's cornerstone initiatives to recognize and reward top faculty members. Four-year stipends of $5,000 are awarded to assistant and associate professors, and $10,000 for full professors. Nominees are chosen in a highly competitive process. The professorships can be funded with an endowment gift of $250,000, which will generate $10,000 a year for the professor during a four-year term and it is typically directed toward their salary.

Category

Education, General/Other

Population(s) Served

Adults

Budget

$500,000.00

Program 3

OU President's Associates

Since its beginning in 1979, the President's Associates program has provided unrestricted funding that allows OU's president to deal with critical issues and pursue initiatives that enrich OU's academic mission. Because donors can designate half of their gift to a favorite college or program, Associates funds provide the same kind of opportunities to OU deans and program directors. The impact the Associates program can be tremendous.

Category

Education, General/Other

Population(s) Served

Adults

Budget

$1,000.00

Service Areas

Self-reported

Oklahoma

Additional Documents

Funding Needs

In 2015, the University of Oklahoma will celebrate its 125th anniversary. This is not only a major milestone, but also provides a singular opportunity to reflect on our past and to be forward-thinking about meeting the challenges of our future. To meet these challenges, we are launching the Live On, University Campaign. Learn more about the campaign: To learn more about giving to individual colleges and programs, please see:

External Reviews

Source: greatnonprofits.org

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

UNIVERSITY OF OKLAHOMA FOUNDATION INC
Fiscal year: Jul 01-Jun 30
Yes, financials were audited by an independent accountant.

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Operations

The people, governance practices, and partners that make the organization tick.

University of Oklahoma Foundation Inc.

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2014 and 2014
  • Board Chair and Board Members
  • Access to the GuideStar Community
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Principal Officer

Guy Patton

BIO

Guy Patton is President and Chief Executive Officer of the University of Oklahoma Foundation. Prior to assuming this role in October of 2007, Mr. Patton was with Fidelity Investments for more than 22 years. Mr. Patton joined Fidelity in 1985 as a Sales representative in Fidelity's retail business. He held numerous positions within the Finance function during the early part of his career at Fidelity including senior regional finance executive for both the Southwest and Midwest regions.In 1997, Mr. Patton was promoted to executive vice president of Fidelity's Institutional Retirement business. During that time Mr. Patton was responsible for launching the industry's first Internet-based 401(k) product. For this, he was named ""Co-Impact Player-of-the-Year"" by Defined Contribution News in 2000. He then became president of Fidelity Investments Tax-Exempt Services Company; one of the nation's top providers of 403(b), and 401(k) retirement savings plans to tax-exempt organizations in the US. In 2004 Mr. Patton was promoted to President of all of Fidelity's Retirement and Outsourcing business with nearly 5000 employees and revenues of over $2.5 billion.In addition to his general management roles, Mr. Patton was asked to lead the global Human Resources function for Fidelity in 2002. In that capacity he was a member of Fidelity's 12 person Executive Committee. During that time, he was responsible for the company's corporate human resources functions including recruitment, compensation, benefits, employee relations, as well as management and organizational development for the firm worldwide.Mr. Patton received a bachelor's degree in economics in 1983 and a master's degree in 1985, both from the University of Oklahoma.Mr. Patton has been a member of the board of trustees for numerous not-for-profit organizations, including Jobs For The Future, InRoads, The Cincinnati Ballet, and has served as president of the Board of Trustees for the Childhood Trust.

STATEMENT FROM THE Principal Officer

"Amid all the conversation about endowment and asset size, investment performance, tuition increases and cuts in state funding, it would be easy to get lost in the numbers. As stakeholders, we want you to share in the inner workings of the Foundation, but we never want the "how" of giving to overshadow the "why" of your generosity. The purpose of the Foundation is to encourage and support charitable giving for the benefit of the University of Oklahoma. Every day we live that mission through conscientious service to the generous donors who support our University. Below is what we are committed to do for you: Make giving simple - Whether you make a gift online, write a check, perform a wire transfer or create a bequest, we're here to help. Let you know that your gifts matter - Supporting OU is an important expression of your priorities and values. As a transparent organization, we encourage you to play an active role in knowing where your money goes and how it is spent. Invest and manage your gifts wisely - Our outstanding investment results happen by choice, not chance. Our purpose-driven investment management should give you confidence to establish or enhance endowed funds. Ultimately, between your generosity and the Foundation's stewardship of your gifts, the University of Oklahoma will make permanent its aspirations for excellence. Let's not forget that you are the most important part of that trajectory. Guy L. PattonPresident "

Governance

BOARD CHAIR

Mr. Terry L. Carter

Retired (QuikTrip)

Term: Jan 2013 - Dec 2016

BOARD LEADERSHIP PRACTICES

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RESPONSE NOT PROVIDED

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?


RESPONSE NOT PROVIDED

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?


RESPONSE NOT PROVIDED

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?