Clarifying what all that fund-raising lingo mean

King, Wayne

English

Furman University

Furman MagazineVolume 48Issue 1 Spring 2005 Article 204-1-2005Vocabulary lessonWayne KingFurman UniversityFollow this and additional works at: https://scholarexchange.furman.edu/furman-magazineThis Article is made available online by Journals, part of the Furman University Scholar Exchange (FUSE). It has been accepted for inclusion in FurmanMagazine by an authorized FUSE administrator. For terms of use, please refer to the FUSE Institutional Repository Guidelines. For more information,please contact scholarexchange@furman.edu.Recommended CitationKing, Wayne (2005) "Vocabulary lesson," Furman Magazine: Vol. 48 : Iss. 1 , Article 20.Available at: https://scholarexchange.furman.edu/furman-magazine/vol48/iss1/2026 Furmanphi lanthropy Vocabulary lesson TECHNOLOGY FACULTY RESEARCH 3% % SCHOLARSHIPS 90% This illustrates how unrestricted gifts to Furman were used during the 2003-04 school year. Furman received slightly more than $2 million in unrestricted gifts in 2003-04 and has a goal of almost $2.25 million for 2004-05. The fiscal year ends June 30. Clarifying what all that fund-raising lingo means Those of us who work in fund-raising often throw around terms l ike "capital g ifts" or "planned giving" as if everyone knows what we're talking about. Members of Furman's Young Alumni Council recently reminded us that such is not always the case, and that donors to Furman would probably benefit from a brief vocabulary lesson about the uni­versity's development efforts. They sug­gested that we publish a glossary of terms and their definitions in an effort to ensure that alumni and friends won't scratch their heads in confusion or uncertainty when words such as "endow­ment" or "restricted gifts" are mentioned. So we've followed up on their idea, compi l ing a list of terms and their defini­tions. We hope this helps clarify the dif­ferent types of contributions that can be made to Furman, as well as how they are used to benefit various areas. • Unrestricted gift: A donation from an alumnus/alumna, parent, student or friend without a specific designation. Unrestricted gifts are a significant source of funding for student financial aid and scholarships, faculty research ,  l ibrary resources and classroom technology. • Restricted gift: A contribution from an alumnus/alumna, parent, stu­dent or friend designated for a specific campus project, program or department. • Young Benefactor: An alumnus/ alumna who graduated within the last 20 years and who makes an annual donation of $1 ,000 or more either as an unrestricted gift, a contribution to the Paladin Club for athletic scholarships, or a combination of the two. • Capital gift: A special gift, beyond one's unrestricted gift, to support a unique project. It is typically payable over a period of three to five years and becomes a permanent asset of the university. • Partners donor: One who gives $25,000 annually for student scholar­ships or $30,000 to an endowed scholar­ship. As a Furman Partner, the donor establishes a personal relationship with the student(s) supported by his or her scholarship. • Reunion giving: A program through which classes celebrating reunions make special efforts to increase their giving. The result is a class gift to Furman that includes all contributions received during a reunion year plus all pledges made by class members that are due within 1 0 years. (See article about Bet Fant '69 on facing page.) • 50-plus percent: The percentage of alumni who have contributed to Furman for seven consecutive years and thus helped increase the university's national stature. Furman ranks among the top 1 0  larger colleges and universi­ties in the nation in the percentage of alumni who contribute. • Endowment: The university's financial foundation, or "savings account." It includes a pool of gifts perpetually invested without the principal being used. The endowment is overseen by the board of trustees, which determines what percentage of the endowment can be used to provide an income stream for campus projects and programs. • Endowment per student: The university's total endowment divided by its number of students. This is a key indicator through which Furman compares itself to its peer institutions and attracts outstanding students and faculty. • Endowment for maintenance: A percentage of a new building's con­struction costs set aside for its annual and permanent upkeep and maintenance. • Entry-level gift societies: Gift societies for donors of unrestricted gifts of $ 1 00 to $249 (Gateway Society), $250-$499 (Bell Tower Society) or $500-$999 (Fountain 500 Society). • Top gift societies: Gift societies for donors of unrestricted gifts of $1 ,000 to $2,499 (Presidents Club), $2,500-$4,999 (Trustees Circle), $5,000-$9,999 (Founders Circle) and $1 0,000 and above (Richard Furman Society). • Planned gifts: Gifts designated to the university in one's estate plans. - Wayne King Director, Annual Giving 

Vocabulary lesson

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