Frequenty Asked Questions About Giving
Where will the money go?
Funds given to UT, including gifts to the College of Arts and Sciences, are used in many different areas. General gifts go into the College Excellence Fund. The college’s dean can use this pool of funds to enhance programs at his or her discretion. If you prefer your gift to be used in one area, however, you may designate your entire gift to one specific department or program.
What will you use the money?
General gifts to the college or to departments are used at the discretion of the dean (or department head, in cases of departments) to enhance programs. If you give a gift above $25,000, you may choose to designate more specifically how it is used, such as for scholarship, graduate student support, student and faculty travel, etc.
Will giving money help me get football tickets? Good seats? How?
Yes. All giving to UT counts toward football ticket eligibility. For more information on this, contact the Arts and Sciences Development Office.
When are gifts due? All at once? Payable over time?
Many people choose to pay “major gifts” (of $25,000 and above) over a period of time, usually not exceeding five years from the time of the pledge. If you wish to create an endowment with your gift, paying in installments allows for the account to be set up on the front end and all necessary gift agreement documents to be drawn up. Then you may “fund” the endowment over a specified period of time. See more below on how endowments work. While most donors giving at this level do create endowments, you may give any amount without having to create an endowment.
May I donate appreciated assets (real estate, securities, other assets)?
Yes. UT accepts gifts in a variety of formats including cash, stocks, and real estate. There are set policies on valuing and processing gifts of stock and real estate.
How do I make a gift or pledge?
Getting started is as simple as a conversation with the Arts and Sciences Development Office. Telephone and email information is listed below.
Can I designate my gift to a department or program?
Yes. In fact, many gifts are designated this way. If you have a gift for the annual fund, simply mark the department’s name in the “for” blank. In cases of major gifts, contact the Arts and Sciences Development Office and a staff member will work with you on designating your gift in the appropriate way.
What are the different gift club levels?
ANNUAL GIFT CLUBS (annual gifts at these amounts)
- Century Club ($100-499)
- University Circle ($500-999)
- President’s Club ($1,000+)
MAJOR GIFT SOCIETIES (lifetime giving in these amounts)
- Tennessee Society ($25,000 – 49,999)
- Heritage Society ($50,000-99,999)
- Benefactors Society ($100,000-499,999)
- Charles Dabney Society ($500,000-999,999)
- Founders Society ($1,000,000-4,999,999)
- 1794 Society ($5,000,000-9,999,999)
- Torchbearer Society ($10,000,000+)
Can I form an endowment? For what purposes?
Yes. The minimum endowment level is $25,000, though people have built endowments of well over $1 million. Typical purposes of endowments include scholarships, graduate fellowships, student and faculty travel, program endowments (in general support of a particular program), professorships, and endowed chairs.
What are the different endowment levels?
Minimum endowment guidelines are below. In certain programs, endowment levels may need to be higher in order to provide the level of support necessary:
- Endowed chair - $2,000,000
- Endowed professorship - $500,000
- Presidential scholarship - $100,000
- Graduate Fellowship - $100,000
- Scholarship - $25,000
Can I give a gift for buildings or spaces?
Yes. Minimum levels of gifts for naming buildings and spaces depend on the size and nature of the building or space. As a general guideline, the gift amount for naming a building is a minimum of one half of the cost to build the building. For existing spaces, amounts are figured by calculating the rough cost of renovating the space, and then adding in enough to form an endowment so that when the space needs further renovations and upgrades, there are fund earmarked to do so. Generally, you can name spaces such as classrooms or laboratories for between $100,000 and $500,000.
How does estate giving work (charitable trusts, simple bequests)? Are there tax benefits? Can I get help setting this up?
Gifts through estate planning can be great ways for you to: (a) make a large provision for the program you want to support, (b) minimize the tax burden on your estate and your heirs, and sometimes even (c) increase your income and your heirs’ inheritance. UT has an experienced tax lawyer and a CPA on staff that can help people realize estate gifts. To get started, contact the Arts and Sciences Development Office.
How do endowments work?
An endowment is an excellent way to ensure that support for your favorite program or department will last forever. This type of gift is a simple investment-based fund that generates income to support a specific program. Once the fund is established, some of the earnings are reinvested to sustain the program’s growth over the years. Endowments are invested in a pool through the UT treasurer’s office. The treasurer’s office uses professional investing criteria to make decisions for the overall endowment pool. The office also watches benchmarks in order to gain the highest possible return while protecting the integrity of the principal as much as possible. At UT, as at most universities across the country, endowments pay out at a rate of 5% per year to the program. Any additional earning is reinvested to provide growth and security in the fund.
Whom should I contact to get started?
Contact the Arts and Sciences Development Office:
Office of Development
College of Arts & Sciences
2524 Dunford Hall
University of Tennessee
Knoxville, 37996-4000
John Dinkens
Director of Development
jdinkens@utk.edu
(865) 974-1815
Polly Laffitte
Associate Director of Development
plaffitte@utk.edu
(865) 974-8478
Katie Schweinfest
Assistant Director
kschwein@utk.edu
(865) 974-2131
Elizabeth Ferguson
Advancement Assistant III
ferguson@utk.edu
(865) 974-2365