Comprehensive Standard 3.2.13
An institution-related foundation, not controlled by the institution,
has a contractual or other formal agreement that (a) accurately
describes the relationship between the institution and the foundation,
and (b) describes any liability associated with that relationship. In
all cases, the institution ensures that the relationship is consistent
with its mission.
The LSUA Foundation was established in July 1992 as a non-profit
501(c)(3) organization to benefit Louisiana State University at
Alexandria. The Foundation is governed by an independent board of
directors. The LSUA Chancellor and Vice Chancellor for Finance and
Administrative Services serve as ex-officio members. The purpose of the
Foundation, as reflected in Article II of the Articles of Incorporation
[1]  and Article II Sections 1, and 3 of the Bylaws of the LSUA Foundation [2] ,
is to promote the education and cultural welfare of Louisiana State
University at Alexandria by providing support for various programs and
projects and to aid and facilitate the attainment of the goals of the
University. Because of the Foundation’s close affiliation with the
University, the corporation shall be conducted at all times in such a
manner as will in no way conflict with the authority of the Board of
Supervisors of Louisiana State University and Agricultural and
Mechanical College or the University. Because the primary objective of the Foundation is to provide support to the University, an Affiliation Agreement [3]
was entered into by the Foundation and the LSU Board of Supervisors on
January 1, 1999 to clearly outline the affiliation between the two
entities and to document the relationship between the University and
the Foundation. An addendum to this agreement was executed in February
2004 to better define their respective responsibilities and authority.
The foundation provides support by soliciting and accepting funds of
all kinds, and administering such donations, bequests, and gifts for
the purposes determined by donors.
As reflected in Article X of the Articles of Incorporation [4] and Article X of the Bylaws of the Foundation [5] ,
the incorporators, officers and directors of the corporation claim the
benefits of the limitation of liability and indemnification provisions
of applicable Louisiana Statutes to the fullest extent allowed by law.
Documentation
[1] LSUA Foundation Articles of Incorporation, Article II (758kb)
[2] Bylaws of the LSUA Foundation, Article II - Sections 1 and 3 (60kb)
[3] LSUA Foundation/LSU Alexandria Affiliation Agreement (620kb)
[4] LSUA Foundation Articles of Incorporation, Article X (758kb)
[5] Bylaws of the LSUA Foundation, Article X (60kb)
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