Investing in UIC's Brilliant Futures
Endowments
Endowments, of all private giving, offer perhaps the most influential of investments in higher education, creating living legacies and producing income for generations.
An endowment is a financial gift that provides an income in perpetuity for a specified use. Endowed funds are never spent, so each gift designated for endowment by you provides permanent financial support. In an era of acute competition for the best teachers, researchers and students, privately funded endowments furnish a flexible resource that the University can use in many ways.
An endowment also permits you to pay tribute to specific individuals or organizations when a named endowed fund is created in their honor. Several different levels of endowment exist that permit you to link your honoree's name with the University's most notable achievements, beginning with an investment of $25,000.
Endowments are needed to provide funding for faculty chairs and professorships; graduate fellowships; undergraduate scholarships; programmatic support; visiting scholars/lectureships; research support; and student internships.
Learn more about endowments by contacting Chuck Van Hecke, Deputy Associate Chancellor for Development, at 312-413-1297.
Estate and Gift Planning
Estate planning is the process of developing with your attorney, accountant, trust officer, life insurance agent or other advisors an orderly and desirable arrangement for the disposition of your estate. In most estate plans, the disposition of property after death is the key consideration. However, lifetime dispositions of property are also an extremely important part of estate planning.
The primary objective in any plan should be the fulfillment of the wishes of the individual with regard to the happiness and security of the individual's family and others (sometimes including charitable organizations) that he or she seeks to benefit. Tax considerations, although secondary, are an important part of estate planning and are often directly related to the accomplishment of the individual's primary goals.
When a person dies, his or her estate must pay federal estate tax if the estate exceeds allowable credits and deductions in value. The federal estate tax is a graduated tax; that is, the higher the value of estate assets, the higher the rate at which they are taxed. A bequest to education or for the benefit of education is not included in determining the taxable assets of the estate. Consequently, when a bequest is made to the University of Illinois Foundation, property is removed from the estate which is in the highest taxed bracket.
A well-drafted estate plan often results in major tax savings. It allows the individual to benefit his or her family while making a substantial bequest to an educational organization such as the University of Illinois Foundation at a small cost to the estate.
Read more about estate and gift planning here or contact Chuck Van Hecke, Associate Vice Chancellor for Development, at 312-413-1297.
Annual Giving
While large campaigns are vital to the progressive growth of the University, annual giving initiatives allow us to tailor fundraising efforts to meet the ongoing, day-to-day needs of our schools, colleges and auxiliary units. Annual funds are a category of current gifts and provide much-needed dollars for wide-ranging initiatives such as student scholarships, student travel to professional conferences, funding for graduate student research projects and special lectures and seminars. They are an important source of operational revenue and are used in the year received, making an immediate impact on the lives of students and faculty. Annual giving continues to be a top priority.
Contact Angela Larson, Director of Annual Giving, at 312-413-8424, for more information regarding UIC's annual giving programs.
Corporate and Foundation Relations
The Corporate and Foundation Relations (CFR) office at UIC serves as a vital link to the community by partnering with companies and foundations to realize important research, education, employee recruitment and social responsibility objectives. The office serves as a key resource for faculty, students, and administration who wish to leverage collaborative community networks, as well as a first point of contact for companies and foundations who wish to partner with UIC.CFR also assists with interdisciplinary projects of interest to organizations, including international programs, innovative healthcare, K-12 education, online learning, sustainable energy, entrepreneurship and many others.
CFR serves UIC and the community by:
- Helping UIC units approach corporations and foundations for funding based on an understanding of mutual goals and objectives that will assist in building successful, collaborative partnerships.
- Serving as a first point-of-contact to help corporations, foundations, and community organizations navigate UIC and find appropriate faculty, programs, and research opportunities.
- Working in partnership with the Office of the Vice Chancellor for Research to expand the field of potential funding sources.
For more information contact Darcy Evon, Director of Corporate and Foundation Relations, at 312-355-0471.
"With family and TV there are too many distractions to study at home. In the Project Oasis lounges on campus, everyone is there to study, and that's motivating."
--Natalie Moy, College of Liberal Arts and Sciences