A memorial gift offers donors a thoughtful way to remember a loved one and makes a lasting contribution to University of Alaska Fairbanks' vital mission and its students.
There is no limit to the number of donors who can contribute to a memorial fund. To extend the opportunity to make a contribution in memory of a loved one to their family and friends, you can offer giving in lieu of flowers and/or reach out explaining an opportunity to support a scholarship fund.
"In Lieu of Flowers"
Donors may choose to have gifts directed to UAF in memory of a loved one in lieu of flowers. Below is sample language that can be included to encourage giving in memory of a loved one:
"In lieu of flowers, memorial contributions may be made in memory of NAME to the University of Alaska Fairbanks. Contributions may be made online at www.uaf.edu/giving; please note ‘In Memory of NAME.' Checks can also be mailed to: UAF Development and Alumni Relations, P.O. Box 757530, Fairbanks, Alaska 99775. Please make checks payable to ‘UA Foundation' and include ‘In memory of NAME' in the memo. If you have questions, please contact the UAF Development and Alumni Relations at 907-474-2619."
Sample Call for Support within Memorial Giving
Dear family and friends,
I write to tell you about a memorial scholarship that we have set up at the University of Alaska to honor <name>, the <describe family and/or friend place>.
Many of you have kindly asked what you might do to honor <name>. We hope you will join us in celebrating <name> wonderful <personality trait(s)> by contributing to the scholarship and helping us create a legacy at UAF that we hope will endure in perpetuity. The <name> Memorial Scholarship will <fund purpose>.
This memorial fits <name> well as <he/she> <describe how the personality fits with the fund purpose>.
To become an endowment, the donation balance must get to $25,000. We have a goal of <goal years, up to five> years to build to this level. We would like the fund to start benefitting students as soon as is possible as they will be so happy for the support. Gifts of any size donation can be made to this fund at any time (including pledges over time) and will be sincerely appreciated. Please consider a contribution amount that is comfortable for you.
All gifts are tax deductible for those who itemize, your tax professional will be able to help you with your questions on this topic. When making a gift, please make sure to specify your gift is in memory of <name>.
Ways to give:
- Online at www.uaf.edu/giving (please be sure to check "Other" under gift designation and specify the name).
- By check (payable to the "UA Foundation" and mailed to the UA Foundation, PO Box 755080, Fairbanks, AK 99775).
- By phone (contact UAF Development & Alumni Relations at 907-474-2619; they can also answer giving questions).
Thank you for considering being a part of this memorial tribute to <name>.
Fund types, most common
Also known as current-use funds, the gifts are made available for the purpose as intended by the original donor of the fund for short-term need expenditures. Gifts made to restricted funds are each assessed a gift fee, currently 1%.
Endowments are perpetual funds, providing for the long-term needs for the purpose intended by the original donor of the fund. Gifts made to endowment funds are each assessed a gift fee, currently 1%. In addition, endowment funds area each assessed with an annual endowment fee (administration fee), also 1%, based on the value of the total principal, which is deducted from the accumulated earnings portion. Gifts to endowments are put into the principal gifts account, but can be designated by the donor to go to the spendable account, or split between the two.
An endowment is made up of three accounts or "buckets":
- Principal Gifts account - invested per UA Foundation policy.
- Principal Accumulated Earnings account - invested per UA Foundation policy.
- Spendable account - the portion of the investment's earnings transferred from the accumulated earnings account to the spendable account where it is available for use (according to the purpose stipulated by the donor). The transferred amount is called the spendable distribution and the amount is determined by following the UA Foundation's investment and spending policies.
For estimation purposes, the annual spendable distribution is generally equal to 4% of the total principal (after a 5 year growth period). With each $25,000 in principal value, the fund can reasonably be expected to provide one student with $1,000 each academic year into perpetuity.
Scholarship establishment basic information needs
- Fund Name
- Intent/Purpose – explain the kind of students that shall be beneficiaries to this scholarship
- Estimated gift amount, date and method
- Named funds and endowments may be established with a one-time gift or via pledge that is fulfilled over a five-year period.
- Fund type: restricted/current use or endowed or other
- Donor biography and/or memorial story
Tip for creating an effective scholarship: Create a purpose that is as broad as possible that still meets your ultimate goals in supporting UAF students.
- This assists with preventing years where there are no eligible students for your scholarship.
- This also assists with creating a scholarship that can stand the test of time and the evolving needs of students, programs and our community.
UAF Financial Aid standard scholarship qualifications from which the system operates to select scholarship recipients
- 2.0+ GPA
- Part-time or full-time enrollment