Giving FAQ
What are the ways I can make a gift to Wayne State University?
What are the areas at Wayne State that can benefit from my support?
How soon can my gift benefit the university?
How does Wayne State invest endowed gifts?
How do I begin the process of supporting the university?
What are the ways I can make a gift to Wayne State University?
You can make a gift in any number of ways. Outright gifts made immediately or pledges given over several years are made available to the university during your lifetime. Most planned gift options will benefit the university through your estate.
Gifts may be designated to specific areas, or they can be unrestricted. Designated, or restricted gifts allow you to specify use for the funds, such as support for students, faculty, research or programs in a school or college, or various university programs.
Unrestricted gifts are directed to support the university’s most pressing needs and often are made in appreciation for the contribution Wayne State University has made to donors’ lives and the lives of their families or children.
You also may create a named fund, which enables you to honor, memorialize or recognize an individual or organization. You may have your name, or the name of someone close to you, associated with a scholarship, fellowship, research fund, facility or any number of endowed faculty positions at Wayne State University. Such gifts acknowledge these individuals' commitment and dedication to the institution.
What are the areas at Wayne State that can benefit from my support?
Students
Faculty
Research
New construction, renovations or facility upgrades
School/college/department/program
You may make outright gifts to support any of the areas above and, if you like, you can create a named fund to acknowledge the commitment and dedication of an individual or organization to Wayne State University. Please click here to view the minimum support levels for named funds.
How soon can my gift benefit the university?
Your gift will benefit Wayne State depending on whether you make an expendable or endowed gift.
An expendable gift can be used immediately by the university for the purposes you designate. The advantage is that they provide immediate support to the area you designate.
Once an endowment is fully funded at a minimum of $25,000, quarterly spendable distributions will begin and continue in perpetuity. The advantage is that the principle is invested and only a portion of the investment earnings are spent. For example, a $25,000 endowment will generate $1,125 annually* (or $281.25 per quarter) based on the 4.5% annual distribution rate.
How does Wayne State invest endowed gifts?
The Wayne State University Foundation established an Investment Committee to oversee and manage the endowments. The committee employs external professionals to manage and invest the portfolio. The committee also contracts with an external consultant and uses university staff to assist in overseeing the entire process, including review and evaluation of the investment managers. The external consultant is New England Pension Consultants, Inc.
The asset allocation policy provides for a diversified portfolio. This policy, along with the mix of investment managers, is designed to grow the fund over the long-term in order to maintain the purchasing power of the endowment as well as fund the distributions to university programs.
How do I begin the process of supporting the university?
Giving a gift to benefit Wayne State University is easy. Whether you are making a gift through our convenient and secure online giving site, through the Annual Giving program or making a major commitment through outright or long-term methods, development professionals are available to discuss your plans with you.
We have professionals who represent the schools, colleges and programs on campus; professionals in planned gifts; and professionals in corporate and foundation relations. Development officers in these areas will help ensure that we meet your preferences for supporting Wayne State.
You have three options to choose from when making a gift to Wayne State University:
- Securely Online: Click here and you will be directed to our online giving site.
- By phone: please call us at (313) 577-2263 between 8:30 a.m. and 5:00 p.m., Monday through Friday, and a staff person will take your information.
- By mail: To access and print a form to give by mail, please visit the online giving page, complete your gift information and select “Pay by Mail” at the bottom of the page.