Frequently Asked Questions
What is the return on my investment?
For alumni, the return on investment naturally comes in the form of the enhanced reputation of the University of Washington. For alumni, friends and community partners, great education means great leaders today and in the future. Your investment can also advance research by allowing undergraduates to work hand-in-hand with faculty researchers.
When should I make my gift?
Your gift will make an immediate difference in the undergraduate experience, no matter when you give. But a gift at any level today will bring impact and encourage others to follow your generous lead. However, if charitable deductions are a priority, the I.R.S. works from the calendar year, which may explain why December is the leading month for giving. The University’s fiscal year begins July 1, which is why we try to attract support to coincide with the fall return of students. Neither need nor opportunity is ever fully funded, and every gift helps regardless of when it’s given.
How do corporate matching gifts work?
Thousands of companies will match donations to approved not-for-profit organizations and schools, dollar-for-dollar as a benefit to their employees and their communities. To find out if your company has a matching gift policy, please visit UW Matching Gifts.
You should also visit your human resources office or website to inquire about matching gift guidelines. Usually you just fill out your company’s brief matching gift form and send it in with your gift. We’ll take care of the rest. Your designated UAA fund gets more support, your company gets a receipt and recognition for its matching contribution, and you are credited toward recognition in the Dean’s Club and other gift societies.
How do pledges work?
Pledges come in many forms. Annual gifts may be divided into quarterly gift installments. Electronic Fund Transfers (EFTs) allow for more frequent recurring payments toward a predetermined pledge commitment. More substantial gifts may be paid over a period of years. For more information about pledging, contact a member of our advancement team.
What are the tax benefits of making a gift to Undergraduate Academic Affairs?
Your gift is tax-deductible as specified in IRS regulations. The University of Washington and the University of Washington Foundation (tax id number 94-3079432) are registered as charitable organizations with the Secretary of State, State of Washington. To find out more, contact a member of our advancement team.
When will the scholarship I support be awarded? Will I be notified? Can I meet with the student recipient?
Scholarship awards are granted at varying times throughout the year. Donors funding individual awards are notified about the recipient by the program shortly after the award is made. Most students feel compelled to send personal letters of thanks and often welcome the chance to meet you. Our advancement team will work to facilitate those meetings.
What are the benefits for me personally?
While your gift is tax deductible and may secure some allowable benefits such as inclusion in our annual donor roll, there’s no greater benefit than the knowledge that your gift makes Undergraduate Academic Affairs stronger, allowing us to shape future leaders who will in turn touch the lives of others. And gifts of all levels are combined to make millions of dollars worth of impact our donors can take pride in.
What is the difference between endowment and current use?
Both endowment and current use funding are vital to UAA’s future. Gifts to establish or grow an endowed fund provide the principal from which interest is paid out at an approximate annual rate of 5%. Additional returns help the endowed fund keep pace with inflation. An endowment benefits UAA for the life of the University of Washington. It’s an excellent way to establish a lasting legacy, and the requirement to create such a fund begins at $50,000. For many endowment donors, their gifts target existing funds where endowment minimums have been met. Current use is exactly that: Every dollar is used to address immediate funding needs or opportunities. While current use gifts do not provide the same legacy of an endowment, these gifts’ legacies comesin the form of full and immediate financial impact.
To whom do I make my check payable?
Your check should be made out to the University of Washington Foundation. We appreciate the inclusion of a gift card or brief note specifying Undergraduate Academic Affairs or a specific UAA program/fund with your check.