The University of Memphis offers this glossary as a tool for visitors to the Advancement
website. These terms are defined only as they may pertain to the University of Memphis
and are not applicable in all situations. It is not a comprehensive dictionary of
terms, nor do the terms listed cover all possible meanings or applications. Furthermore,
it is recommended that donors first consult with their appropriate legal, financial
and other advisors for any necessary counsel before making any gift or agreements
with the University.
Advancement – that division of the University of Memphis made up of Development, Advancement Services, Alumni and Constituent Relations, and the University of Memphis Foundation.
Alumni – a graduate or former student of the University of Memphis.
Academic Fund – The Academic Fund is the collection of gifts from alumni, parents, and friends
that are given to the University of Memphis with no restrictions. These gifts are
primarily used to assist with financial aid needs, classroom updates, technological
improvements and betterment of the overall student experience.
Annual Giving – The Annual Giving program exists to provide the University of Memphis with financial
support for scholarships, special programs, research facility, technological upgrades,
and other needs. The mission of the University of Memphis Annual Giving program is to build a strong core constituency of alumni, friends, and the University
family who will provide consistent financial support to the University of Memphis
and its programs. The Annual Giving program works to acquire, reactivate, and renew
donors and gifts of $1 to $4,999.
Appreciated assets – assets that have a higher market value than their basis or tax purpose value. Such
assets would, if sold at a price higher than their basis, potentially generate a taxable
capital gain. Such assets are often very good assets to use in making a tax-wise charitable
Basis – the tax purpose value of the property or asset used in establishing the potential
capital gain amount.
Beneficiary – the person and/or organization that receives the benefits (usually assets or income)
of a will or trust.
Bequest – a gift of property or assets to a beneficiary as defined in a will.
Cash gift – a gift made most often by check or credit card (rarely cash).
Charitable Gift Annuity – A charitable gift annuity is a way to make a gift to the University of Memphis
and receive an income for the rest of your life. It is a contract under which the
University, in return for a transfer of a minimum of $25,000 in cash or other property,
agrees to pay you a fixed sum of money for a period measured by one or two lives.
Codicil – a written change or amendment made to a will.
Development – the organized activity of soliciting contributions to further the mission of the
University of Memphis.
Director of Development (Development Officer) – a staff member of the University charged with soliciting contributions at the University,
typically for a particular college or program.
Donor honor roll – a listing of those generous individuals and organizations who have provided support
to the University of Memphis (unless anonymity was requested)
Donor advised fund – a charitable giving vehicle administered by a third party, such as a community
foundation, and created for the purpose of managing charitable donations on behalf
of an organization, family, or individual.
Electronic Funds Transfer (EFT) – the use of telecommunications networks to transfer funds from a financial institution
to the University of Memphis.
Endowment – a fund or collection of funds that produces income for an organization. Endowments
are valuable to the University because they create an ongoing source of income, enhance our stability and prestige, allow for
program expansion and provide a measure of independence.
Executor – the person or institution named in a person's will who carries out the terms of
Fiduciary – an individual, corporation or association holding assets for another party, often
with the legal authority and duty to make decisions regarding financial matters on
behalf of the other party.
Foundation – the University of Memphis Foundation is a 501c3 organization established from donated
funds for the purpose of providing support to the University of Memphis.
Fund Agreement – the legal document by which your gifts are segregated for a specific purpose at
the University of Memphis.
Current Expendable Fund – a fund from which all monies may be drawn for current use, as opposed to an endowed
fund from which only the earnings on the principal are typically used.
Fund status report – an annual report provided to concerned parties which outlines activity in a fund
of the University of Memphis.
Gains/Losses, realized - Actual gain (or loss) that occurs when an asset, (who's price has change since
it was purchased) is converted into cash at fair market value in an arm's length transaction.
Gains/Losses, Unrealized - Paper profit (or loss) that does not become actual until the underlying asset is
sold, redeemed, or otherwise disposed of.
Honorarium – any gift, of any size, made to the University in recognition or in honor of an
individual or other entity.
In-Kind Gift – a charitable gift of goods or services rather than money.
Matching Gifts – a charitable practice where an individual or organization pledges to give an equal
amount of money to the University of Memphis, where the amount given is equal to the
amount raised in individual gifts. Many companies encourage their employees to make
charitable contributions by matching their philanthropic support.
Memorial – any gift, of any size, made to the University in someone’s memory.
Non-degreed alumni – an individual who attended the University of Memphis, but did not receive a degree.
Phonathon – The University of Memphis Phonathon is an important element to the Annual Giving Program in which student employees make
telephone calls to alumni, parents and friends. The Phonathon works to acquire financial
contributions in support of our University programs, scholarships, facilities, research
Planned giving – a term commonly used to describe a wide variety of giving vehicles that allow you
to give to charity during your lifetime and/or after your death, while meeting your
current income needs and providing for your heirs. Planned giving is typically done
in conjunction with your overall financial, tax and estate planning, sometimes involves
a professional advisor, and is a viable option for donors of all income levels.
Pledge – a promise to make a gift to the University at a future time.
Probate – the legal proceeding in which a court determines how an estate will be divided.
Estate planning advisors often seek ways to reduce or eliminate assets from an estate
such that they are not a part of probate proceedings.
President’s Society – the University of Memphis Annual Fund 's leadership society. President's Society
members are among the most loyal and generous benefactors of the University. Donors
to the President's Society make significant annual contributions to the academic
areas on campus that they personally value. These gifts provide financial resources
necessary to maintain excellence and implement innovations at the University of Memphis.
The President's Society recognizes all donors who make a gift of $1,000 or more to
any college, school, department, program, or other academic area at the University
of Memphis during the fiscal year.
Restricted gift – directed gifts (designated gifts) and contributions made to the University to be
used in accordance with donor-created guidelines.
Retained life estate – a gift plan allowing the donation of a personal residence (including a vacation
home) or farm but allows you to retain the right to life enjoyment. A life estate
may be retained for either one or more lives or a term of years. All routine expenses
– maintenance fees, property taxes, repairs, etc. – remain your responsibility. However,
you receive an income tax deduction for a significant portion of the value of the
contributed property (since the property is irrevocably deeded to the charity) and
estate tax benefits.
Scholarship – financial aid awarded to a student.
myMEMPHIS – the portal on the University of Memphis website through which the campus community can gain access to online services and information.
Society of the Shield – that group of generous donors to the University of Memphis who have made cumulative
gifts to the University of no less than $10,000.
Trust – any arrangement where property is to be held and administered by a trustee for
the benefit of those for whom the trust was created. Depending on the type and how
it is established, a trust may be revocable (changeable) or irrevocable (not changeable).
There are many types of trusts available to fit to various situations.
Trust, charitable lead – an arrangement in which income from your property or investment is given to the
University for a term of years, but the principal passes to other parties designated
by you upon termination of the trust.
Trust, charitable remainder annuity – a special type of Charitable Remainder Trust under which a beneficiary of your
choosing (not the University) receives an annual fixed income. You are allowed an
income tax deduction of the amount of the present value of the charity's remainder
interest as of the date you contribute your assets to the trust.
Trustee – and individual or organization which holds or manages and invests assets for the
benefit of another.
Unitrust, charitable remainder – a trust under which a beneficiary designated by you (not the University) receives
a fixed percentage of the net fair market value of the trust on an annual basis. The
annual income paid to the beneficiary must be either for life or for 20 or fewer years.
Unrestricted gift - a gift made to the University to be used as needed.
Will – the legal expression or declaration of your mind or wishes as to the disposition
of your property, to be performed or take effect upon your death.
Glossary of Development Terms
Ways to Give
Alternate Ways to Give:
U of M Gift News
Alumni Assoc. Lifetime Membership
Major Giving Societies
Honor Roll of Annual Donors
Honoraria and Memorials
Corporate and Foundation
Faculty and Staff
The college planning website BestColleges.com has included the University of Memphis on its list of the 50 best colleges for older students.
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