Cleveland State University Foundation

In fiscal year 2023, the Foundation received $25.1 million in new gifts and pledges, including $10 million for scholarships. Gifts received by the Foundation fall into two basic categories; restricted and unrestricted. Unrestricted gifts may be used for University priorities, programs and services not supported by state funds, endowment income, or other sources. Most gifts received are restricted for specific purposes as directed by the donors, the Foundation, and the University. For example, restricted gifts can be directed to a specified academic department, scholarship, etc. whether restricted or unrestricted, annual gifts are usually spent within the year they are received. Endowment funds are pooled with other gifts and invested. Under the direction of the Foundation's investment committee, endowments are invested by professional fund managers for maximum yield with minimum risk. Endowment funds support general University operations, all nine academic colleges, the School of Nursing, Athletics, and the library.At CSU, 30% of students are from underrepresented minority populations and more than 40% of undergraduates are the first in their families to attend college. More than half of undergraduates receiving federal aid qualify for the maximum amount and 88% of first-time, full-time freshmen rely on financial assistance.The Cleveland State University Foundation (CSUF) is a non-profit organization incorporated under the laws of the state of Ohio and tax-exempt under section 501(C)(3) of the Internal Revenue Code. An outright gift to the CSUF is a fully tax-deductible charitable donation. The CSUF does not receive public funds, such as state and federal grants.State of Ohio appropriations help fund the University's basic operations. Other sources of revenue, such as student fees and auxiliary services, help meet basic operating costs not covered by state funding. Private support, generated through gifts to the CSUF, provides the University a margin of excellence by creating students and faculty resource opportunities from private fundraising that would otherwise not be available. The Foundation further serves the University by maintaining private fund accounts (endowment and current use) from one fiscal year to the next.The CSUF is governed by an independent volunteer board of directors, consisting of no more than 50 directors, and ex-officio directors, including the president of the University. The Foundation's financial records are audited annually by independent auditors.

The Cleveland Schools Book Fund is an endowment within the College of Education and managed by the Cleveland State University Foundation as part of the overall investment portfolio. Oversight is provided by a board comprised of both CSU and non-CSU members.The Cleveland Schools Book Fund helps students develop reading skills for academic life success and over the past 10 years has grown to more than $5.5 million. The fund has helped children in the Cleveland Metropolitan Schools become better readers and citizens by providing each pre-k to fourth grade classroom with a library of high-quality storybooks that are specifically chosen to present models of good behavior and citizenship. The book fund has delivered over 200,000 books to classrooms throughout the city, including Campus International School, and nearly 20,000 students read those books every year. In addition, more than 1,000 classrooms have received specifically designed book cases.