Types of Gifts

Kaitlin Black receiving award from Professor Nancy Harrington*All information included below was effective on 6/29/11 and is posted in Administrative Regulation 8:4. 

What kind of gifts can be made to the College?
There are several types of gifts you can make to the College. Those include:

Scholarships and Fellowships
An endowed undergraduate scholarship is created with a gift and/or pledge of $25,000 or more. A graduate-level Fellowship is created with a minimum gift of $100,000.  The maximum pledge period to fully fund a scholarship or fellowship shall not exceed five (5) years and the endowment agreement shall contain a description of the pledge payment schedule.  Additionally, for pledges over $1,000,000 and above, the endowment agreement shall contain a provision to ensure that the pledge is legally binding on the donor's estate.  Only the investment income from the endowment principal is spent, allowing the fund to grow in perpetuity. The endowed fund can also be named after the donor or in honor or memory of a loved one, a family member, a faculty member, friend or any other person of their choice. Non-endowed scholarships can also be established.

Privatley-funded undergradaute scholarships and graduate fellowships shall be established with the following minimum gifts:
1. Undergraduate Scholarship- $25,000
2. Undergraduate Provost Scholarship- $100,000
3. Undergraduate Presidential Scholarship- $250,000
4. Singletary Scholarship- $350,000
5. Graduate-level Fellowship- $100,000

Privately-funded Academic Positions
These positions shall be established with the following minimum  gifts and conditions:
1. Deanship- $4,000,000.  The University may provide from University funds such supplemental amounts as are necessary to set the salary of the holder at a level commensurate with the individual's record, experience, and position on the faculty.  Income from the gift  shall be used for both salary and other professional support of the holder of the chair, including assistance for research.
2. Named Chair- $2,000,000.  The University may provide from University funds such supplemental amounts as are necessary to set the salary of the holder at a level commensurate with the individual's record, experience, and position on the faculty.  Income from the gift shall be used for both salary and other professional support of the holder of the chair, including assistance for research.
3. Distinguished Scholar- $300,000.  A distinguished scholar shall be considered a temporary appointment. This position is usually given to a visiting scholar during temporary residence at the University.  Other compensation may be provided for the visiting scholar through regular budgetary procedures, but no visiting scholar shall be compensated from two or more distinguished scholar endowments or gift accounts.
4. Professorship- $250,000.  Income from the gift shall be used primarily to supplement the salary of the holder of the professorship but shall be available for other professional support, including assistance for research.  This policy in no way alters or prohibits the establishment of University Alumni Professorships on a continuing appointment basis, College Alumni Professorships on an annual appointment basis, or other such Professorships associated with educational units, under terms approved by the President of the University. 
5. Named Faculty Support Fund- $250,000. Income from the gift shall be used for faculty professional support in areas other than salary or salary supplement, including but not limited to research support, travel, equipment, and other expenditures that support excellence in the academic or research area.  Permissible uses for such funds shall be established in the gift agreement.
6. Lectureship- $100,000.  The lectureship shall be considered a temporary appointment, and is usually given to a visiting scholar during temporary residence at the University.  Other compensation may be provided for the visiting scholar through regular budgetary procedures, but no visiting scholar shall be compensated from two or more lectureship endowments or gift accounts.
7. Faculty Fellowship- $100,000. Other compensation may be provided for the faculty fellowship through regular budgetary procedures, but no holder of a faculty fellowship shall be compensated from two or more fellowship endowments or gift accounts.

Charitable Remainders Trust
This allows you to receive income during your life while providing, at the same time, a significant gift to the College. Advantage: more control to the donor including the choice of trustee. For additional information go to: http://uky.giftlegacy.com/

Estate and Planned Giving
Large gifts from estates and planned giving allow you to enjoy assets now while providing substantial support for the future. A will bequest to the College is another way to provide an estate gift. The University of Kentucky has established a Bequest Society to recognize donors for their contributions to the University via provisions in their wills.  For additional information go to:  http://uky.giftlegacy.com/.

University Fellow
New levels for University Fellows have been established.  For more information go to:  http://www.uky.edu/Development/impact/fellows.htm.