GIFTS
Major gifts made now or afters one's lifetime as part of a donor's overall financial and/or estate planning, designating the Foundation as the beneficiary
What is Legacy Giving?
The individuals, families and communities the Foundation affects including donors, potential donors, businesses, students, faculty and staff
What is Constituents?
A gift made in addition to what is already present or available to complete or enhance it, often to cover the cost of administration fees or to raise the monetary value of a scholarship award
What is a Supplemental Gift?
A yearly report documenting the Foundation's activities and finances from the previous fiscal year
What is an Annual Report?
The number of students at Western New Mexico University
What is 3000?
A promise to make future contributions to the Foundation
What is a Pledge?
A person, business or organization that gives cash, stocks, bonds, real estate, tangible property, or bequests to the Foundation
What is a Donor?
Gifts immediately available for utilization without a waiting or vested period
What is a Gift in Aid?
Public legal disclosures required of nonprofits related to taxes & financial information
What is Transparency?
The number of students that live on campus
What is 300?
Any single gift made to the Foundation over the amount of $1,000.00
What is a Major Gift?
The act of expressing gratitude and confirmation of gifts with a letter and/or tax receipt
What are Acknowledgements?
The amount available to distribute based on the endowment spending policy currently established at 2.5% of the invested fund ending balance on December 31 of the proceeding year
What is an Available Award?
An official inspection of an organization's accounts, typically by an independent body
What is an Audit?
The cost of one undergraduate-level class at WNMU
What is $253.00?
A donation of goods or services rather than cash or appreciated property
What are In-Kind Gifts?
A donation or gift to, or for the use of, a qualified nonprofit organization. It is voluntary and is made without getting, or expecting to get, anything of equal value
What is a Charitable Contribution?
An investment fund established by the Foundation that makes consistent withdrawals from the invested capital. The principal investment amount is kept intact and grows over time, while the investment income is used as a revenue stream to support programs and operations
What is an Endowment?
An accounting system for recording resources whose use has been limited by the donor, grant authority, governing agency, or other individuals or organizations or by law
What is Fund Accounting?
The number of students that attend classes on WNMU campus
What is 1,950?
A sum of money made available to the Foundation upon the donor's death
What is a Bequest?
A male graduate or former student of a particular school, college or university
What is an Alumnus?
Funding for an infinite amount of time
What is Perpetuity?
The section of the Internal Revenue Code that designates an organization as charitable and tax-exempt
What is 501(c)(3)
The original name of Western New Mexico University