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Gifts for Every Intention
The world of philanthropy is full of wonderful individuals who, like you, want to invest in the future of the organizations they truly value. But, it can be a little confusing, with so many options and so many terms. Use the information below to give you a better idea of what form your gift might take to best reflect your intentions.
Annual funds are current-use financial resources used to support priority programs not covered through state funding. Many donors choose to designate their annual gifts to the College's Fund for Excellence. The Dean of the College annually determines the priorities for this fund. In recent years it has supported our minority student recruitment efforts, enriched student leadership programs, and enhanced technology training for student and faculty. Annual fund dollars can also be designated to the William Chandler Bagley Scholars Program. Entirely funded through private gifts, this program enables us to provide merit-based scholarships and fellowships to some of our most talented students. During 2002-2003 academic year, 37 students directly benefited from this program.
Wherever you designate your annual fund gift, you can be assured that your donation is going directly to support the research, teaching and service missions of the College of Education. With no minimum gift, this is a great way to begin your investing in the College of Education.
Endowed funds are gifts large enough to generate yearly income. The principal remains intact through investment and only the interest is used. Endowed funds are attractive because they guarantee that financial resources will be available for years to come. Generally, endowed funds are named in recognition of the donor or donors. The size of the donation to establish a permanently endowed fund is determined by the purpose of the gift (i.e. scholarship, professorship, etc...) as well as by current financial market considerations. To learn more about creating an endowed fund you can visit the University of Illinois Foundation web site or contact one of the College gift officers.
Current Use Gifts
Current use gifts can be put to use by the College immediately upon receipt from the donor. Examples might include a newly endowed scholarship, a one-time gift to purchase new computers for one of our departments, or a donation to one of our Annual Funds. When you hear the words current use, it basically means a gift that can be put into immediate action.
Deferred gifts are ones that are designed to be put to use at a future time. While these gift agreements may be made at any time, the execution schedule of the donation is the result of careful planning that integrates the donor's charitable gift into his or her overall financial, tax, and estate planning objectives in order to maximize the benefits for both the donor and the College. Examples of deferred gifts might include an estate bequest.