Facing the - Culver Academies

16 The Culver Educational Foundation
The culver fund
What is the importance
of The Culver Fund?
The culver fund supports the operating
budget of the school, especially culver’s
strategic priorities of financial aid, faculty
and staff salaries, and programs.
What is considered
a Culver Fund gift?
• ideal culver fund gifts are unrestricted,
immediate-use cash gifts.
• Minimally restricted gifts to standard
areas of budgeted expense (student
scholarship, faculty salaries, etc.) also
count as culver fund.
• Multiple-year pledges are welcomed, but
only gifts received within a current fiscal
year (July 1- June 30) will be credited for
a culver fund gift that year.
What is a gift-in-kind?
• A gift-in-kind is a physical item or
evidence of a personal or corporate
expenditure that cannot be liquidated
for cash.
• A gift-in-kind will not be credited to
The culver fund unless it reduces
specifically budgeted expenses in that
fiscal year.
What is an unbudgeted
restricted gift (formerly known as an
expense-paid-by gift)?
An unbudgeted restricted gift is an unanticipated
donation for a program/item/
service that was not part of the approved
budget. Effective July 1, 2012, an unbudgeted
restricted gift will now be credited to The
culver fund.
What gifts count toward
a Class Reunion Culver Fund goal?
Only culver fund gifts received during the
current fiscal year ending on June 30.
What gifts do not count toward
a Class Reunion Culver Fund goal?
• All pledges
• Gifts made in prior years
• All non-culver fund gifts