Under the leadership of Dr. David Dockery, the Union University Board of Trustees voted in 2006 to establish the Union University Foundation. The purpose of the Foundation is to provide financial support for the University. In 2007 all the University's permanently endowed funds were transferred to the Foundation. READ MORE
The Foundation manages the University's endowment and seeks to grow the endowment through gifts and appreciation of currently held funds. At the close of the 2012-2013 academic year the Foundation has grown to over $35 million. While the size of the Foundation is not where the University wants it to be significant progress has been made. When the University relocated to the current site in 1975 there was no endowment and the year Dr. Dockery became President, 1995, the University's endowment stood at $8 million. Over $100 million in construction for campus buildings has taken place under the Dockery Administration as well as significant endowment growth.
The endowment consists of individual scholarship funds, endowed chairs and lectureships, and an undesignated endowment account. Each of these is important for the future of the University. The most stable budgeting model for the University is to have a larger endowment. Financial resources can be given to the University's endowment through the Foundation by estate gifts, planned gifts, or annual gifts. The Foundation offers help in the estate planning process.
The Foundation not only creates new financial opportunities for donors but also assures generations of students the opportunity to take full advantage of all that a Christ-centered, academically excellent education from Union University offers.
As you consider ways to connect financially with what God is continuing to do at Union, we hope you will give us an opportunity to discuss how the Union University Foundation can serve you. We are most honored by your faithful friendship. We want to help you build a legacy of fruitfulness through Union University and our Foundation for the betterment of our students, the advancement of our mission, and ultimately for the glory of God.
Douglas C. Walker III, Ph.D
Union University Foundation, LLC
If I give to the Foundation, am I still giving to Union University?
Yes. The Foundation is, in many ways, simply an extension of the University. Its board of directors is appointed by the Union board of trustees. The Foundation's executive director will manage the operations of the Foundation. From a donor’s perspective, nothing about the act of giving to Union will change. The Foundation exists for the exclusive benefit of Union University.
How can I be sure that the Foundation will make wise investments?
The Board of Directors is made up of top business leaders from across the region: financial planners, bank executives and investment counselors, who are committed evangelicals, dedicated to putting their extensive skills to work for you and for Union University.
What services can the Foundation provide?
The Foundation will offer comprehensive planned giving services at Union, and our advancement staff will be available for a variety of educational workshops and other seminars designed to help you understand how the Foundation can benefit you at tax time. Contact the Foundation office to schedule a workshop at your next church function, civic club meeting or other event.
How can I give to the Foundation?
Here are just a few of the options donors can consider as they chart a giving strategy that makes sense for their circumstances:
Donors may make direct gifts to the Foundation to support endowed scholarships, capital projects, or the university endowment.
The will is one of the most popular vehicles for making gifts through one’s estate.
Charitable Remainder Unitrust
The most popular and flexible type of life income plan is a charitable remainder unitrust (CRUT). Cash, securities, real property, or other assets are transferred into the trust.
The trustee manages the trust assets and pays the donor a variable income for life or for a term of years. When the trust terminates, the remaining assets in the trust are transferred to the beneficiary.
Charitable Gift Annuity
A contract in which the donor establishes an annuity with the University in exchange for payments of a fixed amount to the donor or the designated beneficiary.
Deferred Gift Annuity
As the name implies, this option is useful for those who need to benefit from a current income tax deduction, while deferring income until some point in the future (usually at retirement). The amount you receive each year (rate of return) depends upon your age now and your age when the payments are set to start.
Charitable Remainder Annuity
This trust pays a fixed percentage (at least 5 percent) of the initial value of the trust at least once a year. The payout is constant regardless of fluctuation in the value or trust earnings. In an annuity trust, if trust earnings are insufficient to make the required payments in any year, the difference is paid from trust principal.