UC Foundation joins with UT Foundation

UC Foundation joins with UT Foundation

November 1st, 2011 by Perla Trevizo in News

Roger Brown

Roger Brown

ABOUT THE UC FOUNDATION

  • Organized in 1889 as a nonprofit educational institution.

  • In 1969, it amended its name to change it from the University of Chattanooga to the University of Chattanooga Foundation, Inc.

  • It remains a public benefit corporation formed for charitable, scientific, literary and educational purposes for the exclusive purpose of benefiting the educational, research and public service missions of UTC.

The UC Foundation in Chattanooga is for the first time ever affiliated with the UT system foundation, an agreement that the board of trustees called a step in the right direction.

"It will allow us to raise more money for the University of Tennessee at Chattanooga," said University of Tennessee President Joe DiPietro.

The affiliation and services agreement was reached Friday among the University of Chattanooga Foundation, UT on behalf of UTC and the University of Tennessee Foundation.

"It will allow the University of Chattanooga Foundation to grow and develop more capacity for fundraising," said UTC Chancellor Roger Brown.

Among other things, under the new agreement all gifts to UTC will be deposited through the University of Chattanooga Foundation.

Brown emphasized that if a donor wants to make a gift for UTC, it will continue to be solely for UTC.

About $1.2 million of state money is used for development and alumni affairs, which includes partial funding for the UC Foundation. Through the new agreement, the school will be able to use money from the foundation to hire more fundraisers if needed, Brown said.

"It's probably the most significant step for the University of Tennessee at Chattanooga since 1969, when it became part of the university system," said board of trustee member James Hall from Chattanooga.

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