Annual Fund: Miami's unrestricted gift fund, used to meet the university's most pressing needs. Gifts to the Annual Fund (typically made via mail, phone, or online) are generally expended within 12 months. Contact Joan Schiml, Director of Annual Giving, at (513) 529-9218 or AnnualGiving@muohio.edu.

Appreciated Securities: Assets that have a higher market value than their basis or tax cost, which, when sold, would generate taxable capital gains. Donors can avoid paying capital gains taxes by gifting appreciated assets to Miami.

Basis: The tax cost of the property or asset used to determine the amount of capital gains if the property or asset is sold.

Beneficiary: A person and/or organization that receives benefits from a trust.

Bequest: A transfer, by will, of property such as cash, securities, and tangible property to an individual or organization, such as Miami University.

Calvin S. Brice Society: Membership in the Brice Society is extended to all individuals who include a provision to support Miami University posthumously, through a method such as a bequest, living trust, charitable gift annuity, charitable remainder trust, pooled income fund account, provision in their retirement plan or IRA, life insurance policy, or a remainder interest in a residence or farm. Named for Calvin S. Brice to acknowledge his lifetime commitment to Miami .

Campaign: The Miami University Campaign For Love and Honor is a comprehensive initiative with a goal of raising $500 million by December 31, 2010.

Charitable Gift Annuity: A contract under which a gift by a donor is made to a charity, such as Miami University , in exchange for guaranteed payments of a fixed dollar amount (annuity) to the donor for life. The remainder of the money goes to the charitable organization at the donor's death.

Charitable Lead Trust: An irrevocable trust that provides for payments to the charitable organizations, such as Miami University, for a stipulated period of time.  At the end of the trust term, the trust assets go to a designated individual.

Charitable Remainder Trust: An irrevocable trust that provides for the payment of a defined amount to designated beneficiaries. After this period is expired, the trust principle is transferred to the charity remainderman. A charitable remainder trust must be either a charitable remainder annuity trust or a charitable remainder unitrust.

Charitable Remainder Annuity Trust: Provides for the annual payment of a fixed dollar amount (an annuity) to the noncharitable beneficiary(ies). The annuity amount, once established, cannot change and it must be at least five percent of the initial net fair market value of the property placed in the trust. Additional contributions to an annuity trust after the initial funding are expressly prohibited.

Charitable Remainder Unitrust: Provides for the annual payment of a fixed percentage (at least five percent) of the annually determined net fair market value of the trust principal to the noncharitable beneficiary(ies). The unitrust amount therefore fluctuates each year based on the fair market value of the trust principal. Additional contributions may be made to the unitrust.

Endowment: Money from bequests or outright gifts to Miami University that is invested in perpetuity to produce amounts to be distributed according to the endowment spending policy. Distribution of earnings coincides either with the donor's wishes or, if there is no restriction on spending the earnings, at the discretion of the university.

Endowment Spending Policy: The policy determining the percentage of income and net appreciation to be distributed from the endowment for operations and other approved purposes each fiscal year.

Estate: The total assets of a deceased person.

Executor: The person or institution nominated in a will to carry out the terms of the will.

Expendable Funds : Funds that can be spent in their entirety in a manner consistent with the intentions of the donor; funds not deposited in an endowment fund.

Fiscal Year: The 12-month financial period for Miami University beginning July 1 of each year and ending June 30.

Form 990: An IRS form which must be submitted annually by organizations exempt from federal taxes. Miami University Foundation’s most recent form 990 is posted online.

The MiamiUniversity Foundation: The principal purpose of the Foundation, which is a separate 501(c)(3), is to foster educational and research activities of Miami University . The Foundation may solicit and receive contributions of money and such gifts and loans of personality and realty as the Miami University Foundation Trustees may deem desirable.

Grant: Generally an allocation from a foundation, corporation, or government agency.

Living Trust: A trust created for the trustor and administered by another party while the trustor is still alive. A living trust, which can be either revocable or irrevocable, avoids probate and therefore allows assets to be distributed significantly more quickly than by a will.

Gift: A voluntary, irrevocable, unconditional transfer of an asset.

Gift-in-kind: A non-monetary item of tangible personal property such as art, collectibles, books, equipment, automobiles, and other physical assets which have value to Miami University.

Matching gift: A gift made to Miami with company or corporate foundation funds that matches commitments made by a company's eligible employees.

Memorial gift: A gift made to Miami in memory of someone, as designated by the donor. Upon request, the university will notify the appropriate family members of memorial gifts.

Online gift: A gift or pledge payment made electronically to Miami on the internet. Miami's secure online gift site is www.forloveandhonor/givetoMU

Outright gift: The current transfer of a gift to the university.

Gift Planning: The integration of personal, financial, and estate planning concepts with the individual donor's plans for lifetime or testamentary giving. Contact Melanie Parscal, Director of Gift Planning, at (513) 529-5332 or GiftPlanning@muohio.edu.

Pledge: A signed and dated legal commitment to make a gift to Miami over a specified period, payable according to terms set by the donor. This usually does not exceed five years.

Pooled Income Fund: This fund allows gifts from separate donors to be commingled in a single trust. In return, each designated beneficiary receives a proportionate share of the net income earned by the fund annually.

Presidents Club: Miami 's lifetime recognition program for those who commit $25,000-$49,999 (the Alfred H. Upham Associates) and those who commit $50,000-$99,999 (the Guy Potter Benton Associates). Payments may be made over a five-year period.

Prodesse Society:Miami's lifetime recognition program for those who commit $100,000-$499,999 (the William H. McGuffey Associates), those who commit $500,000-$999,999 (the Whitelaw Reid Associates), and those who commit at least $1 million (the Benjamin Harrison Associates).

Probate: The legal process of proving a will or having it declared valid and effective. The term is also used loosely to refer to the entire process of probate, administration and distribution of the testator's estate under the terms of the will.

Restricted gift: A gift to Miami University with a specified purpose clearly stated by the donor.

Stewardship: A process of recognition that continues to convey Miami 's appreciation to donors for their thoughtful commitments.

TeleHawks: A segment of Miami's Annual Giving program, where current Miami students phone alumni, parents, and friends to maintain contact and solicit support for the Annual Fund and other university initiatives.

Unrestricted gift: A gift to Miami that is given without any restrictions on its use.

Will: Normally a legally executed written instrument by which a person makes disposition of his or her property to take effect after death.