We are an organization of like-minded people who wish to contribute for the welfare of the USTC as well as the entire alumni community. USTCAF is a non-profit, non-partisan organization registered in Delaware, USA. It is also an IRS 501(c)(3) organization with tax-exemption status. All donations are thus tax-deductable.
USTCAF is managed by a Governing Board (GB) elected by all USTCAF members. An election is held every year in February. All GB members are volunteers without pay.
We are not an organization of "a few rich men." The median contribution amount per donor is $110.We appreciate small contributions as much as large ones.
Thanks to the participation of more and more enthusiastic alumni, AF grows steadily since it was founded on June 20, 1995. Since then, we received over $1.8 million from more than 3000 alumni and friends. In 2008, the donation amount is over $400K. The AF is actively seeking ideas on new programs to put the fund to good use.
Minimum Expense and Transparency
The foundation's expense/donation ratio is 0.6% since inception. Recently, most of the expenses were incurred by the fee during credit card donations. We also provide full transparency of our operations.
100% Award Distribution
Although USTC act as the intermediary for our awards, no overhead is taken by the school. In fact, USTC put up matching fund to match many of USTCAF awards. The entire amount of the awards goes to the recipients.
Each year, USTCAF awards outstanding new USTC students, outstanding faculty members in teaching or research, and Goodwill Scholarship awardees based mainly on financial needs. By 2008, we awarded 25 outstanding faculties and about 350 outstanding new students. Our Goodwill scholarship supported more than 300 students including 195 current students.