A gift in memory or in honor of a loved one can be directed to support any of the existing funds in the foundation. Memorial/honorary gifts of any amount are listed in the Foundation’s annual publication of the Benefactors Report. A donor can also establish a new endowed or non-endowed fund and name it after the person they would like to memorialize or honor. Many donors establish scholarships in memory or in honor of an alum or a former faculty or staff member. There are also other recognition opportunities on campus. Donors can name a classroom, office, or bench in the quad in memory of a loved one. A plaque will be installed for this type of memorial/honorary gift.
Types of Memorial/Honorary Gifts Currently Available:
Named Endowed Fund:
A named endowed fund can be established to provide scholarships, support a professorship or chair in a particular academic area, or support another purpose based on the interest and intention of the donor. An endowment requires that the principal remain intact in perpetuity, or for a defined period of time, or until sufficient assets have been accumulated to achieve a designated purpose. West Liberty University Foundation, Inc. requires a minimum initial gift of $25,000 to establish an endowed fund.
Named Temporarily Endowed Fund:
A named temporarily endowed fund with a balance of less than $25,000 may be established with the understanding that the donor/s or governing body intends to fund at a minimum $25,000 level and that no income generated by the gift principal will be distributed until the $25,000 minimum principal balance has been achieved. If not fully funded within five years, the temporarily endowed fund will be considered part of the Foundation’s general endowment. This can be used to establish a future endowed scholarship fund.
Named Non-Endowed Fund:
A named non-endowed fund is a fund held by the foundation designated for a specific use over a shortened period of time. This type of fund can be established with an initial gift of $1,000 and is typically used when a donor intends to contribute annually to finance the purpose of the fund. Many donors choose to fund annual scholarships with named non-endowed funds.
Named Classroom in Campbell Hall:
During the capital campaign to raise funds for the construction of Campbell Hall classrooms in Campbell Hall could be named for a gift of $100,000. Because the campaign has ended, we can offer this opportunity for a minimum gift of $50,000, which can be paid by a multi-year pledge. The gift can be directed toward the continued maintenance of the building or one of the Health Science Programs housed in the building.
Name a Seat in Kelly Theatre:
This recognition opportunity is limited to the number of seats in the theatre. A gift of $600 directed to the maintenance and improvements of Kelly Theatre will be recognized with a plaque on the back of a seat.