The University is in compliance with Criterion 6.6. The Auburn Alumni Association and the Auburn University Foundation are separately incorporated 501(c)(3) University corporations. Both were established and exist to further the many instructional, research, and extension programs of the University. This chapter discusses these two University corporations.

2 AUBURN ALUMNI ASSOCIATION

The purposes of the Alumni Association are to promote the growth, progress, and general welfare of Auburn University; to foster mutually beneficial relationships between the University and its alumni; to foster and encourage improved educational enterprises, programs and services of Auburn University; to perpetuate the traditions, purposes, growth and progress of Auburn University.

The Alumni Association is managed by a Board of Directors, which consists of 17 members, and the President of the University and the Chief Financial Officer of the University. Both these University officers serve as non-voting ex officio members. Neither is additionally compensated for service on the Alumni Association Board. More specific information about the administration of the Alumni Association is included in the Auburn Alumni Association By-Laws.

The Auburn Alumni Association is audited yearly by an independent accounting firm. A copy of the most recent audited financial statement is in the SACS Library. Independent accountants also review accounting controls and risk liability of the Association. Both the accounting controls and the risk liability are appropriate.

The Auburn Alumni Association contributes to and complements the mission of Auburn University by fostering mutually beneficial relationships between the University and its Alumni. The Auburn Alumni Association also works closely with the Auburn University Foundation, the fund-raising arm of the University, in the management of development programs, and by soliciting and encouraging alumni and friends of Auburn University to make gifts, devises, bequests, and contributions to the benefit of Auburn University.

3 AUBURN UNIVERSITY FOUNDATION

The Auburn University Foundation was organized in 1960 with the sole purpose being educational. Its objective is to develop and increase the facilities of Auburn University for broader and increased opportunities in this realm for and service to its students, alumni, and the citizens of the State of Alabama and the Nation, by encouraging gifts, grants and donations of money, property, works of art, historical papers and documents, museum specimens, and any other such material and/or asset of educational value, and by such other proper means as may seem advisable; to receive, hold and administer such gifts, grants, and donations and also to act without profit as trustee and to have trust powers to be exercised when necessary or desirable and to perform any and all acts concerning: management, investment, reinvestment and expenditures in furtherance of the educational interests of Auburn University.

The Auburn University Foundation is governed by a Board of Directors consisting of 17 persons serving staggered periods of time. The President of the University is the only University employee serving on the Board of Directors. The President serves as an ex officio member and is not additionally compensated for this service. More specific information is included in the Auburn University Foundation By-Laws found in the SACS Self-Study Library.

The Auburn University Foundation is audited yearly by an independent accounting firm and its most recent financial statement is in the SACS Self-Study Library. Independent auditors review internal controls and risk liability yearly and have found them to be appropriate.

The Auburn University Foundation serves as the fund-raising arm of Auburn University and contributes significantly to and complements the mission of the institution as a result of the fund-raising efforts.