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July 20, 2001

ISU Foundation to purchase NFO building

by Barbara Dietrich Boose, ISU Foundation
The Iowa State University Foundation plans to purchase the National Farmers Organization (NFO) building, 2505 Elwood Dr. "The new facility will enable the foundation to respond to the university's increasing need for private gift support," said Arend Sandbulte, chair of the foundation's board of directors. "It also will provide the university more space in the Memorial Union."

The NFO has accepted the foundation's offer, subject to satisfactory inspections over the next 60 to 90 days. The foundation also will vacate space it rents at 2300 Lincoln Way. The foundation expects to occupy the NFO building by late June 2002.

"Iowa State University has had an increased need for private gift support in recent years, and that need will only grow," Sandbulte said. "Our foundation staff will also grow to serve this need and engage donors in the life of the university."

"We certainly can use additional space in the Memorial Union for student-related services," said Warren Madden, vice president for business and finance. "The future uses of space currently occupied by the foundation will have to be discussed with student leaders and the Memorial Union's board."

The foundation's board identified increased space as a priority in its strategic planning process over the past two years. In consultation with university administrators, the board encouraged foundation leaders to explore options.

The NFO building is south of The Hotel at Gateway Center, which is owned by the foundation. Proximity to Gateway will better serve donors and reduce the foundation's need to create extensive meeting facilities in the NFO building, Sandbulte said.

A small number of private donors who have expressed interest in improved foundation facilities will provide the funds to purchase the NFO building. The purchase price is $2.85 million.

Foundation development officers who serve Iowa State's eight colleges and other affiliated units will continue to have offices in the units they serve, said Thomas Mitchell, president of the ISU Foundation.

"During our discussions with deans and directors, we all shared the belief that development officers need to be intimately familiar with the priorities and activities of the colleges and departments to be successful," he said.

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