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Elizabeth City State University

The ECSU Foundation

Building the Legacy, By Elevating the Endowment

The ECSU Foundation mission is to serve as the steward of private contributions to Elizabeth City State University in order to provide educational assistance for students, to support faculty, and to secure the operational needs of the university. The Foundation receives, invests, and administers funds received, as a result of charitable contributions from the private sector, on behalf of the students and programs at ECSU and, as a result, for the greater good of the community.

A Blended Component Unit of ECSU | Although legally separate, Elizabeth City State University Foundation, Inc. and Subsidiary, is a component unit of the University and is reported as if it were a part of the University. The Foundation is governed by a 25-member board consisting of 13 ex officio directors and 11 elected directors. The Foundation's purpose is to aid, support and promote teaching, research and service in the various educational, scientific, scholarly, professional, artistic and creative endeavors of the University. Because the elected directors of the Foundation are appointed by the members of the Elizabeth City State University Board of trustees and the Foundation's sole purpose in to benefit Elizabeth City State University, its financial statements are blended with those of the University.

ECSU Endowment | The ECSU Foundation is committed to ensuring the future of the university by building ECSU's endowment to provide for its needs in perpetuity. The investment and annual reinvestment, allowed at a higher rate of return than other reserve funds, of the ECSU Foundation endowment allows the university to increase its impact on the region as well as the capacity to meet the needs of the students it serves. The Foundation secures and manages funds, on behalf of ECSU, to establish scholarships, support distinguished professorships and deliver both academic and community outreach programming. In all its efforts, the ECSU Foundation is dedicated to the advancement and promotion of Elizabeth City State University.

  • to steward the resources entrusted to the organization's care, 
  • to support and assist others in conjunction with ECSU, 
  • to provide opportunities to individuals who might not otherwise be able to attend college,
  • to invest wisely and conservatively to ensure growth of the endowment, 
  • to partner with the university to meet its mission in the community, 
  • to communicate openly, frequently and honestly with our constituents, 
  • to honor the privacy of our donors and friends, 
  • to value diversity in all its forms and respect the dignity of the individual, 
  • and to ensure that the organization meet both the letter and the support of the laws that govern our work

Effective July 1, 2013 The Elizabeth City State University Foundation (The Foundation) approved to establish a nominal fee to be charged on collections and funds all in accordance with applicable law known as administrative and gift fees. These fees will be used to cover the costs of fundraising and foundation administrative activities in support of the Foundation's mission.  

The ECSU Foundation Board of Directors establishes two fees illustrated below:

Gift Fees: Effective July 1, 2014 a 2% gift fee shall be assessed to each non-endowed gift to the ECSU Foundation. The full gift less any applicable quid pro quo restrictions remains tax-deductible.

  • Currently, seven UNC institutions are using gift fee (GF) or endowment fees (EF): East Carolina- 3% GF & 1% EF; NC State- 5% GF & 1.00-1.05% EF; UNC Asheville- 1% GF; UNC-CH-10% from Annual Fund & .08% EF; NC Central-2% EF; Appalachian State-1.25% EF and NC A&T- 6% GF.
  • Four others are considering establishing gift or endowment fees.
  • According to a survey developed by the Council for Advancement and Support of Education (CASE) in 2010, 83% of institutions have established or are planning to assess an endowment management fee, which is up from 68% who reported using a fee in 2006. 
  • Administrative Fees: Effective July 1, 2013 a 4% administrative fee will be assessed on all eligible Foundation funds based on the language in the fund agreement documents. After July 1, 2014, this administrative fee shall be assessed only on applicable endowed funds.

The Foundation strives to utilize an equitable fee structure to fund the cost of operations. Administrative fees are used to fund the tasks associated with pursuing, managing and investing the various types of funds held by the Foundation. These fees are essential support necessary to The Foundation's overall operation. The fee structure and rates are reviewed annually by The Elizabeth City State University Foundation Investment Committee.

  • Disclosure Statement: Each gift receipt generated by The Elizabeth City State University Foundation will have the following disclosure statement: "It is the policy of The Elizabeth City State University Foundation that a modest portion of gifts and/or the income from gifts may be used to defray the costs of raising and administering funds."
  • Effective Date: The administrative fee is effective as of July 1, 2013 and the gift fee is effective July 1, 2014. All policies are subject to periodic review and amendment by The Elizabeth City State University Foundation Board of Directors.


Mrs. Kimrey Rhinehardt, Chair
Ms. L. Chantel Cherry-Lassiter, Vice Chair
Dr. Lenora Jarvis-Mackey, Secretary
Mr. Jermaine McKinley, Treasurer
Dr. Karrie G. Dixon, Chancellor
Dr. Gary Brown, Vice Chancellor for Student Affairs and University Advancement
Mr. James Cherry II, ECSU National Alumni Association
Mrs. Christine Evans, Board of Trustees
Miss Alexis Cowell, Vice President, Student Government Association
Mr. James Bell
Ret. Col. Randy B. Bell
Dr. Sadie Johnson Carter
Ms. Bernadine A. Cobb
Mrs. Lydia Daniel
Mrs. Diana M. Gardner
Mr. Emmanuel D. Harris
Mr. Elston Howell
Mr. Christian Lewis
Mr. Timothy Minor
Mrs. Annalisa Carawan Morgan
Rev. Jerry Spruell
Dr. Tracey Tullie
For More Information

Division of University Advancement
Campus Box 978