Memorial funds
You and your family may choose to establish either a new endowed memorial fund or a pending memorial gift account with The University Foundation at Sacramento State.
Establishing a new endowed memorial fund |
Families can establish a new endowed memorial fund with gifts totaling $10,000 or more. An endowed fund provides Sacramento State with an annual income stream to be spent for the fund’s designated purpose, while the principal of the fund remains intact in perpetuity. A portion of the fund’s income is reinvested to the principal to preserve the value of the fund over time.
To set up a new memorial fund account, please call the Development Office at 916.278.6989 with the name that you would like the fund to be known by, and the name and address of the person to whom the gifts should be reported. The Development Office oversees the writing of a formal gift memorandum — the document that legally establishes the fund. The Development Office will also work with you to help determine the size of endowment required to carry out the desired purpose of the memorial fund.
Upon receipt of a memorial gift, the Development Office sends the donor a note of appreciation and acknowledgement for tax purposes, as well as reports the names and addresses of all donors to a designated family member or friend.
Establishing a pending memorial gift account |
Families may choose to suggest in an obituary that donations be sent to The University Foundation at Sacramento State. Because the size of these gifts can vary, Sacramento State establishes a pending memorial gift account in the name of the deceased. Several weeks later, when the stream of gifts has slowed, the Development Office reviews with the family the amount on hand, discusses the likelihood of additional gifts, and helps them choose the fund’s designation based on the amount in the fund. If it is unlikely that the $10,000 minimum required to establish an endowment will be reached, Sacramento State will work with the family to determine the use of the account for current operations, which may be a non-endowed scholarship in the honoree’s name.
To establish a pending account, please call the Development Office at 916.278.6989 with the name that you would like the fund to carry, and the name and address of the person to whom the gifts should be reported.
Please include a mention of the fund in the obituary. Here is some sample wording:
“In lieu of flowers, gifts may be made to The University Foundation at Sacramento State for the [Name] Memorial Fund. Checks should be mailed to the Sacramento State Development Office, 6000 J St., Sacramento, CA 95819-6030.”