The Foundation will accept donor gifts made in remembrance of deceased family members, friends or loved ones (memorial gifts) as well as those gifts made in honor of living individuals (honorary gifts). Memorial gifts are often made in response to announcements in obituaries or memorial service programs. Honorary gifts are often made in recognition of personal/professional accomplishments or important life occasions such as birthdays or retirements.
To promote proper recording and stewardship, such gifts should be forwarded directly to Gift Accounting. All gifts made to a memorial will be deposited into the general fund for the various schools, colleges, and units within the University. Gift Accounting will earmark these funds so the gifts that were donated to the memorial may be tracked. After 1 year (unless the minimum endowment is reached earlier) if the minimum endowment for the memorial is met, Financial Services, at the request of the school, college, or unit, will proceed with setting up the endowed fund in the name of the deceased. If the memorial has not met the minimum for an endowed fund after one-year, all the proceeds from the memorial will stay in the general fund and support the school, college, or units need, as determined by the Dean, Director, or Vice President. In many instances, however, such gifts are received by the various schools, colleges, and units within the University. When received by a unit other than the Foundation, the gift and any accompanying documentation should be transmitted to Gift Accounting as a “memorial” or “honorary gift.”
As with other Foundation contributions, memorial/honorary gifts may be designated for restricted or unrestricted use by the University. In some instances, donations may be made to specific funds with the intent that the donations be used for a special, one-time purpose. The Foundation has the capability to track such contributions and will follow all known intentions in such cases. Memorial gifts and honorary gifts may be made via cash, check, credit card, stock, or any other means approved by the Foundation.