FREQUENTLY ASKED QUESTIONS

We welcome your questions, frequently asked or otherwise. If you have one that doesn't appear on this page, please don't hesitate to contact us.

 

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?

Endowment gifts are maintained in perpetuity, meaning they are maintained forever by the foundation. They are pooled for investment purposes, and the returns earned on these investments are distributed each year to benefit the area the donor has designated.

 
 

How do I establish 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 President John C. Hitt 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.

© University of Central Florida Foundation, Inc. 2015