What is ADA University Foundation?
ADA University Foundation is a non-profit organization established by ADA University. Its primary purpose is to continuously support teaching, research, as well as resource development of the university. It promotes and manages the endowment portfolio of the University.
What is an endowment?
An endowment is permanent fund comprised of all financial assets that are intended for the long-term support of a University. In contrast to expendable funds, which are typically used for immediate needs, endowments are built up over years, primarily with donated funds. Some of those funds are given for a specific purpose, such as establishing a scholarship or new building construction or naming a space or facility of the university, while other donations will be for the general support of the University. Endowments are vital sources for the ADA University’s sustainability. Efficiently managed endowment can provide funds for the innovation and research as well as creative projects and ventures.
How does endowment work?
The sole intention of the endowment is to invest it, so that the total asset value will yield a principal amount, along with additional income for further investments and supplementary expenditures of the University. The principal amount of the invested assets remains intact and only the interest each year is used for the specified purposes of the fund. When a donor makes a contribution to the endowment fund, University Foundation honors the donor’s intended purpose for their gift and makes sure that this amount is wisely invested to generate good financial returns for the upcoming years.
Is building endowment an internationally acclaimed practice?
It is indeed. Almost all successful educational institutions across USA and Europe have established endowments in their possessions. They play vital part in the development and financing of the education and research aspects of the universities. Some of the largest endowments include Harvard, Yale and Princeton in the US and Cambridge, Oxford and University of Copenhagen in Europe.
Why does ADA University need donations and gifts?
Although most of the university’s operational costs are covered by the public funding and tuition revenues, giving to ADAU is vital for strengthening its financial base for future. Strong and well-managed endowment ensures institution’s sustainability for upcoming years and generations. Moreover, while public funding covers only the specific basic needs of the University such as the salaries and utility costs, endowment gives it a flexibility and freedom to invest in ventures, improve research and excel the innovative education. It’s the university’s wealth accumulated over the period of several years by contributions and it’s a powerful tool in the hands of the ADAU administration to turn it into a world-class academic institution.
Who manages the ADA University endowment fund?
Most of the strategic decisions including spending and investment are made by ADA University Board of Trustees. It consists of accomplished and influential leaders in both the government and private sector that have joined ADA Foundation to steer its mission and guide its operations. ADAU Foundation also collaborates with several brokerage companies who make the investment recommendations to the Board of Trustees. Fundraising is done primarily by the staff of ADA University Foundation and ADA University in support of the mission of the university, its faculty and students.
What is the minimum amount for giving to ADA University Foundation?
There is no minimum amount. Any contribution matters to ADA University. Every single support from alumni, friends and partners increases the resources being invested and makes larger investment returns possible. However, the minimum amount to endow a named space at ADAU campus is 2,500 AZN and establishing a named endowment scholarship requires 250,000 AZN. This is to ensure that the particular fund will be operational throughout a certain period and successfully fulfill its goal.
I want to give to ADA University Foundation. How do I do it?
If you would like to contribute up to 1000 AZN, we encourage using our online donation service for your convenience. For greater donations, you can directly contact one of our offices in Baku or Washington DC and the Foundation’s representative will gladly guide you throughout the whole process.
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