The Cal Poly Pomona University Educational Trust (UET) has launched an endowment incentive program to provide bonus funds to donors opening new endowment accounts. Those who contribute a minimum of $10,000 or more to establish an endowment will automatically receive an additional $5,000 from the UET to add to their gift.
The UET Board of Directors approved the incentive program on June 7, allocating $200,000 from the UET undesignated cash reserves for funding. The $5,000 incentives will remain available through June 30, 2005, or until funds are expended (As of this date, more than half of the funds have been allocated).
Established in 1994, the UET is Cal Poly Pomonas primary external fund-raising, funds-management and revenue-distribution arm. The organization oversees the university's endowment and partners with public and private organizations to generate resources that help provide students an exceptional education. This support is essential because the university is state-assisted, not state-funded.
Endowment funds are held in trust by the UET in perpetuity. They are professionally managed to ensure the income generated meets the needs of the projects and programs it supports.
A 501 (c) (3) tax exempt organization, the UET is recognized by the CSU Board of Trustees as a Title V auxiliary organization of the CSU. Such recognition allows the utilization of Cal Poly Pomonas name, resources and personnel.
Faculty and staff are encouraged to make gifts through Dec. 31 to receive tax benefits for the 2004 fiscal year. To make a donation online, click here.
For more information on the UET's endowment incentive program, contact Ron Simons at (909) 869-4996 or Francine Ramirez in University Advancement at (909) 869-6989. For information during the holiday break or after university business hours, call Ron Simons on his cell phone at (909) 437-7471.