How can I be sure that my gift will benefit the School of Social Work directly?
To be sure that your gift directly benefits the School of Social Work, be sure to write "School of Social Work" or the name of the particular SSW fund you wish to support, in the memo line of your check. If paying by credit card via a mailed solicitation, send written instructions stating that your gift is to be designated to the School of Social Work, and name the fund if you wish to support a specific fund. If you are asked for a gift by phone, be sure to tell the caller this same information. When you designate your gift to the School of Social Work, your entire gift directly benefits our School.
How is my gift used?
When you make an annual gift, you have the option of designating your gift for a specific fund or purpose or you can make it an unrestricted gift. Designated, or restricted, gifts are used in the manner for which they are designated. Unrestricted gifts go to our general endowment and are used wherever the need is greatest.
If you are making a major gift ($10,000 and up), you have the option of making a restricted or unrestricted gift, just as with an annual gift. If making a restricted gift, we will document the purpose of your gift in writing so that you can be sure it is used according to your wishes.
Can I contribute to a specific fund within the School of Social Work?
Yes. Simply designate the name of the fund in the memo line of your check, give verbal instructions if donating by phone, or send written instructions with your mailed credit card payment.
What is the difference between endowed and nonendowed funds?
Endowed funds are ones in which an initial gift(s) is made to establish the fund, and this gift, called the corpus, is invested for the School by the foundation. The initial gift is never spent and remains permanently invested. The income generated from this investment is used to support the purpose of the fund. Thus, endowed funds are perpetual and forever a part of the School.
Nonendowed funds are ones in which the entire amount of money in the fund is available for use. They are typically not invested for the long-term, and if these funds are utilized but not added to, they will eventually be spent down.
What is the difference between a restricted and nonrestricted gift?
A restricted gift is one in which the donor wants the gift to be used for a specific purpose, and an agreement is made as to how his or her gift will be used by the School. The donor may wish to support a particular fund that has already been established within the School, or he or she may want to support a particular program or initiative within the School. For major gifts, there is usually a written agreement between the donor and the School as to how the donor wishes the funds to be used.
Nonrestricted gifts are made without restrictions by the donor, allowing the School to decide how the gift can best be used to meet the needs of the School. Nonrestricted gifts give the School the flexibility to meet ever-changing needs and to use the funds where the need is greatest.