The University of Connecticut’s nonprofit fundraising arm will have to submit an annual financial report to the General Assembly that would become public record, if Gov. Dannel P. Malloy signs the bill.
The House of Representatives Tuesday voted 139-7 to adopt the bill, S.B. 333. The Senate already approved the legislation 27-8.
In addition to the final report, the bill requires the UConn Foundation to disclose the name of everyone who donates beginning July 1, 2017. It would, however, allow donors to opt to have their personal information shielded from public disclosure.
The UConn foundation currently has a statutory exemption from the state’s Freedom of Information Act.
Rep. Whit Betts, R-Bristol, said the legislation was the result of “a lot of hard work” by the legislature and UConn Foundation officials, and strikes the right balance.
“It meets the goals of transparency but also protects the privacy of donors,” said Betts.
The foundation is a nonprofit entity that is UConn’s fundraising arm and manages a $383 million endowment. It raised $78 million last year, according to UConn Foundation President Joshua Newton.
UConn gave the foundation $8 million last year.