Standards of Accountability
Those who give to Cedarville University do so voluntarily because they believe in our mission, our students, and the influence they can have for Christ. Those who give to Cedarville must also trust the University. Operating with integrity and thereby meriting this trust are of paramount importance to our board of trustees, officers of administration, faculty, students, alumni, and friends.
Ensuring that trust involves the following measures:
- Having the University's financial statements audited every year by an independent accounting firm (most recently, Ernst and Young).
- Maintaining our non-profit educational 501(c)(3) tax status with the Department of Treasury, Internal Revenue Service(IRS), assuring full deductibility of gifts which meet their requirements, and permitting periodic IRS audits to certify compliance.
- Operating under an independent, self-perpetuating board of trustees that includes neither officers of administration, nor relatives of officers of administration as voting members.
- Using gifts as designated by donors and, when undesignated, using gifts for the Cedarville Fund or other University priorities.
- Issuing receipts promptly for every gift, including information necessary to satisfy all IRS requirements.
- Conducting gift solicitation only by University officers, employees, or volunteers and never external, professional fundraisers.
- Using items that express affiliation by, and appreciation for donors, but which do not compromise the full tax-deductibility of gifts to the University.
- Refusing to sell or rent mailing lists to any organization.
- Answering all inquiries from donors promptly.
- Ensuring approval of budgets, investments, reviews, audits, and salaries by the board of trustees and its committees.
- Providing reports of expenditures for examination by the University's approval and accrediting agencies to assure appropriate allocations for collegiate institutions.
- Maintaining confidentiality of donor records to the extent provided by the law.