Purdue for Life Foundation: Comprehensive Company Profile

Background

The Purdue for Life Foundation, established in 2020 through the unification of the Purdue Alumni Association and the University Development Office, is dedicated to fostering lifelong connections among Purdue University alumni, friends, and supporters. Its mission is to help individuals who cherish Purdue stay connected, get involved, and give back, thereby enhancing the university's global community and advancing its objectives.

Key Strategic Focus

The foundation's strategic focus encompasses:

• Alumni Engagement: Coordinating activities that maintain and strengthen relationships with Purdue alumni throughout their lives.

• Fundraising and Development: Leading initiatives to secure private funding that supports the university's capital projects, operational needs, and scholarship programs.

• Lifelong Learning: Offering educational opportunities beyond traditional campus settings to promote continuous personal and professional development.

• Diversity, Inclusion, and Belonging: Implementing strategies to create and strengthen connections with diverse alumni groups, industry partners, and donors.

Financials and Funding

The Purdue for Life Foundation operates as an independent entity within the Purdue Research Foundation and does not receive central funding from Purdue University. Its funding sources include:

1. Endowment Administration Fee: A 1.2% fee based on the trailing 12-quarter average of the endowment's market value.
2. Alumni Association Support: Approximately $1 million annually from the Purdue Alumni Association.
3. Administrative Fees on Planned Gifts: Fees applied to planned gifts exceeding documented intentions to sustain and grow the foundation's operations.

In the fiscal year 2021, Purdue University raised over $542 million in commitments, averaging $428 million annually over the three fiscal years from 2019 to 2021. The cost of fundraising was 7 cents per commitment dollar and 10 cents per cash dollar, significantly below the national average of 20 cents per philanthropic dollar.

Leadership Team

• Matt Folk: President and CEO (until May 2024). A 1991 Purdue electrical engineering graduate, Folk led the foundation since its inception, overseeing significant growth in fundraising and alumni engagement. He transitioned to the role of Ambassador for Purdue in Indianapolis in May 2024.

• Jacqueline M. Gatson: Assistant Vice President of Advancement for Diversity, Inclusion, and Belonging. Gatson leads initiatives to develop alumni engagement and fundraising strategies that promote diversity and inclusion.

Leadership Changes

In May 2024, Matt Folk announced his departure from the role of President and CEO to focus on Purdue's new Indianapolis campus. A national search is underway to identify his successor.

Competitor Profile

Market Insights and Dynamics

The Purdue for Life Foundation operates within the higher education advancement and alumni engagement sector, which is characterized by:

• Increasing Competition: Universities are intensifying efforts to engage alumni and secure private funding.

• Technological Integration: Adoption of digital platforms for engagement and fundraising is becoming standard.

• Diversity Initiatives: There's a growing emphasis on diversity, inclusion, and belonging in alumni relations.

Competitor Analysis

While specific competitors are not detailed in the available information, the foundation's strategic initiatives position it favorably within the sector.

Strategic Collaborations and Partnerships

The foundation has established significant collaborations, including:

• Diversity, Inclusion, and Belonging Division: Launched in April 2022 to support Purdue University's diversity priorities and the Equity Task Force.

• Alumni Engagement Expansion: In May 2021, the foundation formally assumed the role of coordinating all alumni-related activities, enhancing engagement opportunities.

Operational Insights

The foundation's operational strategies include:

• Integrated Engagement Model: Combining fundraising and alumni engagement functions to streamline operations and improve communication.

• Lifelong Learning Programs: Offering over 450 online courses to promote continuous education among alumni.

• Volunteerism and Mentorship: Encouraging alumni to participate in volunteer opportunities and mentorship programs to strengthen community ties.

Strategic Opportunities and Future Directions

The Purdue for Life Foundation is poised to:

• Enhance Digital Engagement: Expand the use of digital platforms to reach a broader alumni base.

• Strengthen Diversity Initiatives: Build upon existing diversity and inclusion programs to foster a more inclusive alumni community.

• Increase Fundraising Efforts: Develop innovative fundraising campaigns to support Purdue University's growth and development.

Contact Information

For more information, visit the Purdue for Life Foundation's official website.