How Your Support Helps
Annual Fund
The Annual Fund has been called the "lifeblood" of an institution because it helps pay the annual operating expenses and current programs. The smaller a college's endowment, the more an institution must raise for operating funds each year to balance the budget. Contributions to the Annual Fund are used for the following:
- General campus maintenance
- Technological Advancements
- Athletics and student recreation
- Student life programs
- Scholarships for deserving students
- Faculty and staff salaries
- Academic programs
- Teaching development
- Library expenses and purchases
- Other annual expenses
Endowment Fund
The Endowment Fund reduces a college's dependence on the Annual Fund. Gifts given to the Endowment Fund are invested and the interest earned is used for Institutional expenses and special projects. An endowed gift can be unrestricted or restricted as to how the interest will be used. There are many naming opportunities available for endowment gifts to recognize an individual's commitment to the College or to establish a memorial for a family member.
Deferred Gifts/Planned Gifts
Categories of deferred gifts are bequests, charitable trusts, and other long-term methods of financial planning. These methods of giving allow the donor to make the gift of a lifetime. A substantial portion of MacMurray's endowment has come from individuals who have remembered the College through their wills. Generations of alumni and friends have made MacMurray College a philanthropic priority in their lives. They have found ways to do the best they can for the College, both in terms of generous gifts during their lifetimes as well as deferred gifts that come to MacMurray after their passing.
The following is a brief description of the most popular vehicles that you may use to facilitate your giving:
- Bequest: A provision made in your will to make a charitable donation.
- Charitable remainder trusts: Transfer of assets to a trust. The assets are subsequently transferred to the College after the death of the last beneficiary. You retain a fixed or variable income for life.
- Life estate contract: You agree to transfer the deed of real property to the College. You reserve for yourself and/or someone else the right to reside and use the property for life.
- Charitable lead trusts: Transfer of assets to a trust, which provides income to the College for a period of years. At termination, the assets revert either to you or to someone you designate.
- Life insurance policy (two types): (a) You may transfer ownership of the existing policy to the College. (b) You may purchase a policy where the College is the named beneficiary or owner.
- Other charitable gifts include: In-kind gifts: equipment, computer software, printed materials, food for sponsored dinners, personal property, fine art, etc. You must submit appraisal when donating fine art.
- Real estate: You must provide the appraisal and environmental review.
The information offered here is intended only as a general guide, and you should consult your attorney or tax advisor with respect to the effect deferred gifts may have on your particular estate and income tax situation. For more information on planned philanthropy at MacMurray College, please contact the Office of Institutional Advancement by phone at 217-479-7024 or by email at development@mac.edu.
