Why Gifts Supporting USF St. Petersburg Go to the USF Foundation
The USF Foundation is a private, not-for-profit corporation chartered under Florida Statutes that is the legal conduit for the acceptance, investment, and distribution of all private gifts to the USF System.
The USF Foundation is exempt from federal income taxes under IRS Code Section 501(c )(3), and is eligible to receive tax deductible gifts as described in Section 170 of the IRS Code.
The Need for Financial Support
The University of South Florida System does receive state funding, but it does not cover all the costs associated with the activities of a national Research I Institution. There is an ongoing need for private support in every area of the university. Donations give the university the competitive edge to continue our progress.
Designating Your Gift to Specific Needs
You can direct a gift to a specific program or college if you like. The USF Foundation has a fiduciary responsibility to comply with the restrictions imposed by donors on all operating and endowment funds.
How USF Invests Money
Gifts and earnings designated to meet current needs are invested in an operating fund. Gifts designated for long-term commitments are invested in an endowment pool. The primary long-term investment objective of the endowment is to earn a total rate of return that exceeds the ‘spending rate,’ plus long-term inflation and the costs of managing the fund.
Keep Your Information Current
Maintaining current information about you, our alumni and friends, allows us to thank you for your support and allows us to meet our obligation to provide you with a tax receipt. It also allows us the opportunity to invite you to special events at the University and to share our pride about new developments at USFSP made possible by your support.
Once you’ve made the decision to make a gift to USFSP, we can provide information, given your personal circumstances, on ways to give that best meet your personal and philanthropic goals. Always consult your own professional advisor for specific recommendations. The Foundation accepts different types of gifts on behalf of the University.
Gift planning allows you to make a current gift using assets other than cash, such as appreciated stock, real property, or tangible personal property. Planned gifts may be made through your will, trust, or by naming USFSP as a beneficiary to an insurance policy or retirement account. Your planned gift often carries tax benefits for you and may also include benefits to your estate or your heirs.
Real estate may also be accepted as a gift following a due diligence review.
Gifts of appreciated securities often are an excellent way to give and to avoid capital gains tax.
The USF Foundation recognizes donors on multiple levels, given the different commitments they are able to make. After a certain level of giving is achieved, donors are invited to join our President’s Council. Members are recognized in an annual honor roll and are invited to special events throughout the year. There are also societies within the President’s Council, each with their own benefits.
You can make the most out of your giving by participating in your employer’s matching gift program. Many corporations understand the importance of giving and the rewards of philanthropy. To encourage employees to give, some organizations will match employee contributions to higher education. The money that is received from your employer is included in calculating your total giving level. Please check with your employer to see if they participate in a matching gift program.