YSU Foundation

Images 12/19/2011

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Images 12/17/2011

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Location

Category

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Address


606 Wick Ave
Youngstown, OH
44502

General information

In 1966, when the Youngstown University became the Youngstown State University, a separate, private, non-profit corporation known as the Youngstown Educational Foundation was formed under the auspices of Dr. Howard Jones and 37 community leaders. Dr. Jones had been president of Youngstown College and Youngstown University for 35 years. The name of the Foundation was changed in 1983 to its present form, the Youngstown State University Foundation, without affecting the private sector ownership or independent operation of the corporation.

The Foundation is devoted to the support, expansion and development of educational programs at Youngstown State University deemed useful to the student and beneficial to the community. In the beginning, the Foundation provided only scholarships, loans, and grants-in-aid for students at YSU, but as the University's commitment to community service grew, the Foundation's commitment was broadened also.

A continuous effort to augment the Foundation's resources is needed because of the ever-increasing costs of education and demands for financial assistance. Gifts or bequests from individuals or organizations provide the Foundation with funds to support these growing needs. Under the tax laws, the Foundation is classified as a "public charity" because it is operated in connection with the University. Gifts and bequests to the Foundation are deductible for Federal tax purposes to the fullest extent permitted by the tax laws.

The investments of the YSU Foundation are in government securities, corporate bonds, and common and preferred stocks. The focus is long term with an eye on increasing income. Prudent investments in common stocks will show dividend increases and thus, total income far out producing those of fixed income securities.

Separate funds can be maintained to show the growth of each account. Funds are held by various Youngstown banks and because of the size of the Foundation, we enjoy most favorable treatment. The investment committee is selected from interested board members with various backgrounds. All members of the committe serve, as do all Foundation Trustees, without remuneration.

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