University of Oxford Development Trust Fund ('OUDT')

The University's largest trust fund

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The University launched its 'Campaign for Oxford' in October 1988. It decided in 1989 to establish a new trust fund, to be known as the 'Campaign for Oxford Trust' into which it could receive donations for its own benefit and/or the benefit of the colleges.

In 1995, after the Campaign ended, Council agreed that the fund should continue, but under another name. The name was changed to the Oxford University Development Trust by means of a supplemental deed which was effected in March 1995.

In 2010 Council resolved to update the original trust deed in the light of legislative changes over the preceding twenty years, and to add some new features. The revised and restated Trust Deed was executed on 7 December 2010.

 

The objects of OUDT are “to procure, assist and secure the advancement of education, learning, teaching, scholarship and research at or in connection with the University and its Colleges and other Societies insofar as the same are charitable”.

Notes:  

(1) These objects  do not include religious or heritage objects. Any gift of that kind to colleges should not be routed through OUDT.

(2) Although “College”, for OUDT purposes, is defined to include the Permanent Private Halls, OUDT does not cover the Recognised Independent Centres, the University Church, Rhodes House or Maison Française.

The University is the sole Trustee of OUDT. It has established the Trusts Management Board (TMB) to carry out all of its delegable functions as trustees, with the exception of the management of investments which is delegated to the Investment Committee. The University Trusts Administrator serves as Secretary to the TMB.

The funds of OUDT continue to be expendable endowment, unless the terms of a particular donation specify otherwise.

Within OUDT there are a number of “broad purpose funds”, the current ones being:-

  • the Vice-Chancellor’s (General) Fund;
  • the Oxford Teaching Fund;
  • the Oxford Undergraduate Scholarship Fund;
  • the Oxford Graduate Scholarship Fund;
  • the Widening Access and Participation Fund;
  • the Sports Fund;
  • the Humanities Divisional Fund;
  • the Mathematical, Physical & Life Sciences Fund;
  • the Medical Sciences Divisional Fund;
  • the Social Sciences Divisional Fund;
  • the Department for Continuing Education Fund;
  • the Bodleian Fund;
  • the Ashmolean Fund;
  • a Fund for the other University Collections; and
  • a Fund for each College.

 

The context in which these operate, and the manner in which the Development Office uses them in the solicitation of benefactions, can be seen from the Memorandum for Intending Benefactors. The Trusts Management Board is responsible for the oversight of each of these funds, and for the allocation of investment income to each fund in the appropriate proportions.

Unrestricted gifts are credited to the Vice-Chancellor’s Fund (which is itself one of the broad purpose funds).

On occasion, OUDT also acts as the conduit for donations intended for other University or College trusts.

The creation of the Campaign for Oxford Trust, and its continuation as OUDT, provides assurance that endowment gifts that are not earmarked for specific purposes will not be ‘lost sight of’ among the University’s general revenues. Such unrestricted gifts are important to the University, providing flexibility that enables the University always use the gift in support of its key priorities and needs as they evolve over time. 

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