glossary of terms
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bequest
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.
Capital Campaign
An organized drive to raise substantial funds in support of an institution's major needs, such as construction or renovations, endowment or special programs.
endowed fund
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.
expendable fund
A fund from which dollars are used on an as-needed or annual basis, without preserving a minimum dollar level.
Fiscal Year
UCF's fiscal year runs from July 1 to June 30.
In-Kind contribution
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.
Matching gift
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.
operating support
Contributions made to cover an organization's day-to-day ongoing expenses (salaries, utilities).
planned gift
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.
pledge
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.