Frequently Asked Questions
Giving to UM
Q: What is the Annual Fund?
A: The University of Miami’s Annual Fund is the most popular way that alumni, parents, students and friends support the University. Annual Fund gifts are expended in the same fiscal year in which they are received.
The Annual Fund provides general, unrestricted support for the University, providing general operating support to the University.
Q: Why does the Annual Fund need my support every year?
A: Unlike gifts to the endowment, 100% of Annual Fund dollars are spent to provide immediate support to the University’s annual operating budget. With each new fiscal year, comes a new operating budget, and with each new operating budget, comes the need for renewed Annual Fund support.
Q: If I can only afford a small gift, is it worth it to the University?
A: Absolutely! Regardless of the size of your gift, your participation in the Annual Fund is very important. Organizations that rank and compare Universities use the percentage of alumni who give to each University as one of the criteria factored into their comparative rankings. In addition, many corporations and foundations use alumni giving participation as a determining factor in deciding whether or not to fund grant requests.
Q:When should I make my gift?
A: It depends. The University of Miami operates on a fiscal year which begins on June 1 and ends on May 31. Many donors choose to make their gifts closer to the end of the calendar year, in order to take advantage of the IRS tax benefit.
Q:What are the Annual Fund goals for fiscal year 2008?
The goal is $5 million to be received by May 31, 2008, with 20% alumni participation.
Q:What is the President's Circle?
A: The President's Circle is the recognition group for alumni, parents and friends who show great generosity and leadership in their financial support for the University of Miami. President's Circle receive a special lapel pin, invitations to special University of Miami events, and other benefits.
Q:How do I become a member of the President’s Circle?
A: When you make a gift or gifts that total $1,000 or more to any University of Miami school, college or program in one fiscal year, you become a member of the President’s Circle. Corporate matching gifts count toward this total, and contributions to different areas of the university are aggregated. Depending on your gift designation, you may also qualify for other leadership circles throughout the University. Visit the President's Circle web page for more details.
Q:What are matching gifts and how can I make sure my gift is matched?
A: Many employers will match gifts made by their employees, retirees, and directors to non-profit organizations; some even offer a higher than 1 to1 match. You can check online to see if your company is a matching gift company, or you may contact your company's human resources department. By spending a few short minutes filling out a simple form, you can often double the power your gift.
Q: Am I recognized for my matching gift?
A: Yes. For example, if a donor gives $500 to the Annual Fund and his/her company matches that gift with another $500, the donor is recognized for the full $1,000 donation, and then becomes a member of the President's Circle.
Q: What is the endowment?
A: The University of Miami endowment is the investment account of the university, created to ensure long-term financing and growth. The investment account is managed by a subcommittee of the Finance, Audit and Management Committee of the Board of Trustees. To account for inflation and ensure that the funds invested will remain in perpetuity, only a portion of the earnings on the investment portfolios can be spent each year. A sizeable endowment ensures that the University of Miami can continue to fund scholarships, faculty positions, programs and other continuing needs.
Q: Are Annual Fund gifts tax-deductible?
A: Yes! Any gift to University of Miami, a 501c (3) charitable organization, is fully tax-deductible to the extent allowed by law. Gifts of stock, mutual funds or other appreciated securities have special tax benefits. Please visit Estate and Gift Planning for more information.
Q: Can my Annual Fund donation be directed to a specific area?
A: You may request that your Annual Fund gift be directed to any school, college, department or program at the University.
Q: Can I dedicate my Annual Fund Gift to someone?
A: Yes, you can give an Annual Fund gift in honor of, or in memory of, someone special to you.
Q: How often can I expect to be solicited for the Annual Fund during the fiscal year?
A: The solicitation period for the Annual Fund usually begins in late August and goes right up until the end of the fiscal year on May 31. Throughout this period, you can expect to be solicited several times either by the University or a volunteer asking you to support the Annual Fund. If you make a pledge, you will receive reminder notices until the pledge is fulfilled.
Q: What are the different ways I might be solicited for an Annual Fund gift?
A: Alumni are solicited in a variety of ways: letters, brochures and postcards through the mail, e-mail, phone calls and face-to-face contact by students, volunteers, and university administrators.
Q: Why am I encouraged to make a larger Annual Fund gift in a Reunion year?
A: Reunion is a special time for members of a class to reunite with old friends and share the excitement of being back on campus together. It is also time for a class to reaffirm its ongoing commitment to the University. One way this commitment is demonstrated is in the class reunion gift, which is presented to the University during reunion weekend. As has been the longstanding tradition, classes set ambitious Annual Fund dollar and participation goals in an attempt to raise a class gift that meaningfully reflects the strength of the class and its deep appreciation for the University.
