The Indiana Code (“IC”) provides statutory authority to Indiana University to issue bonds, notes and other forms of indebtedness. The borrowing authorization allows financing for the acquisition, construction, repair and renovation of physical facilities. The University issues debt as both a governmental issuer and a 501(c)(3) organization.
Indiana University tracks endowments and funds functioning as endowments (“quasi-endowments”) for which funds by the donor were given directly to Indiana University (“IU”). IU’s preference is to have donations given through the Indiana University Foundation.
IU may enter into contractual agreements to serve as fiscal agent for certain entities which are external to IU governance (External Agencies), for the purpose of facilitating the mutual achievement of educational, research and public services purposes and goals, but only in such instances where the purpose and function of the External Agency relates to, and is consistent with, IU’s mission.