FAQ & Glossary
We welcome your questions. If you have one that doesn’t appear on these pages, please don’t hesitate to contact us.
Frequently Asked Questions
If UCF is a public university, why does it need private support?
As a state university, the University of Central Florida receives a small percentage of its annual budget directly from the state. The rest of its operating revenues come from other sources such as student tuition and fees, federal and state grants and the generosity of UCF donors. As higher education competes with other demands on the state’s budget, state dollars are diminishing as a percentage of UCF’s budget, and private gifts are increasingly important to UCF.
Your gifts are important in providing resources for scholarships and endowed faculty positions—both of which are vital in helping UCF attract and retain the brightest students and the most gifted faculty members. In addition, charitable support is necessary to advance student programs, build new facilities and support the important research conducted at the university.
How does the Foundation determine its fundraising priorities?
With input from the college deans, UCF’s president and provost determine the fundraising priorities of the UCF Foundation.
What does the Foundation do with contributions?
Gifts made to the UCF Foundation are used as the donor directs. Often, gifts are restricted, meaning the donor has designated the gift for a particular endowment, scholarship, student program, school or college. Donations without specific instructions, also known as unrestricted gifts, are used for the areas of greatest need within the university.
Are my gifts tax deductible?
Yes, gifts to the UCF Foundation are fully tax deductible to the extent allowed by law. All donors will receive a receipt by mail, which can be used to claim an itemized deduction on your tax return.
What is an endowment?
Student scholarship and program support endowments begin at $25,000. Once established, any amount can be added to an endowment. The process to establish an endowment is not complicated, but is best addressed through one-on-one conversation. For more information about establishing an endowment, please contact a UCF Foundation development director.
Who governs the UCF Foundation?
The UCF Foundation Board of Directors is comprised of more than 30 alumni and non-alumni members with overall responsibility for the management of the foundation. Trustees with diverse backgrounds, organizational and financial skills voluntarily serve to help the foundation and UCF prosper. UCF’s president is also a member of the foundation’s board.
How is the Foundation funded?
The UCF Foundation’s operating budget is funded by a yearly administrative fee on the market value of endowments, short-term investment appreciation and university support.
Glossary of Terms
A sum of money committed to an organization by will or trust and made available upon the donor’s death. The donor retains all assets during his or her lifetime.
An organized drive to raise substantial funds in support of an institution’s major needs, such as construction or renovations, endowment or special programs.
A permanent fund whose principal remains intact and is invested. The income generated is either reinvested into the fund or is used to support programs or activities.
A fund from which dollars are used on an as-needed or annual basis, without preserving a minimum dollar level.
UCF’s fiscal year runs from July 1 to June 30.
Non-cash gift of services or of tangible property (equipment, works or art, books, real estate) rather than of cash. In-kind contributions (also called gifts in kind) must be appraised or evaluated before they are accepted by UCF.
A grant program whereby a company will contribute a specific amount of money to UCF based on the amount of a gift made by an employee (and sometimes by the employee’s spouse or a retiree) to the university. Specific guidelines are set by each employer.
Contributions made to cover an organization’s day-to-day ongoing expenses (salaries, utilities).
A form of charitable contribution whereby the donor retains assets for life (in the case of bequests), or the donor and/or the donor’s beneficiaries are given payments for life or for a specified term of years (in the case of life income funds), after which all remaining funds are transferred to UCF.
A commitment by an individual or corporation to make a future contribution. Some donors make multi-year pledges.
Restricted and Unrestricted Funds
Restricted contributions are made for a clearly specified purpose and none other. Unrestricted contributions allow the university to decide how the money will be used.