documentation and proof of University involvement or support. Final approval for expenditures rests with the Executive Secretary of the Foundation.
Vision 20/20 (Bucks for Brains)
During the Vision 20/20 initiative, contributions to the University were eligible for state matching funds. In most cases, the donations were made to the Foundation. Matching funds were held in the University endowment. This is consistent with how the other state universities managed the “Bucks for Brains” program.
The Foundation is responsible for reporting to donors on funds donated to the Foundation. The University is responsible for reporting to donors on matching funds and those funds that were maintained in the endowment.
The Foundation has no involvement in the management of the University endowment.
The Kentucky State University Research Foundation, Inc. was incorporated on January 12, 1989, for the purpose of receiving grants from individuals, foundations, partnerships, associations, government bodies, and public or private corporations, and to maintain, use, and apply such grants therefrom exclusively for the benefit of Kentucky State University.
The Research Foundation is a not-for-profit corporation. While it is an active corporation with the Kentucky Secretary of State, it holds no assets and has received no donations since inception. The directors and officers of the Research Foundation are the same as that as the Kentucky State University Foundation, Inc. From an operational standpoint, it is inactive.
The Kentucky State University Wesley Foundation, Inc. was incorporated on January 10, 2018, for the purpose, per the articles of incorporation, of the promotion of the Christian religion through a program of mission and ministry to the Kentucky State University campus. The United Methodist Church currently sponsors Wesley Foundations at all state universities. Kentucky State University has no financial relationship with the Wesley Foundation and does not provide funds to or receive funds from the Wesley Foundation.