Methods of Giving
The Athletic Development Office wants to thank you in advance for supporting Maine student-athletes. Maine is proud to have such an outstanding athletic heritage, but needs you to continue to strive for excellence. We are committed to funding more scholarships for our student-athletes and providing support for the entire athletic program.
Individual Team Gift Fund: The team gift fund provides each team with much needed support. The monies from each respective account goes to underwriting the scholarship budget for the team. In addition, the money is used for each program to maintain their competitive edge in the national and regional scene. Finally, some money is also used to help enhance the student-athlete's quality of life as a member of the athletic program.
Black Bear Fund: The Black Bear Fund provides annual scholarship support for our student-athletes. A gift to the Black Bear Fund is the more direct and effective way to impact the entire department, and its student-athletes. With scholarships costs exceeding $4.2 million annually, gifts to the Black Bear Fund offset these costs and provide invaluable annual financial aid to our dedicated student-athletes.
Athletic Director's Fund: The Athletic Director's Fund is used in areas that are needed most, as defined by the athletic director. Giving the AD discretion as to where money can be spent allows the athletic program to move forward even when temporary set backs may arise. Unrestricted general funds can help retain and attract top-flight coaches and can help make upgrades to facilities that fall outside the realm of basic maintenance.
Endowed Scholarships: One way to provide continuing support for Maine student-athletes is to endow a scholarship. This creates a perpetual fund that is vital to the future success of Maine athletics. An endowed scholarship may be established with a $10,000 gift and requires a gift of $250,000 to fully fund an in-state scholarship. Many supporters have chosen this as a way to give to Maine athletics and honor an individual or team. Unlike the annual scholarship, an endowed scholarship is awarded in the donor's name in perpetuity.
Gifts In Kind: Rather than a monetary gift, the Black Bear Club will accept certain gifts such as office equipment and supplies. These types of contributions allow the Black Bear Club to offset expenses while providing support for Maine athletics. Gifts such as these are acknowledged and the donor receives Black Bear Club credit as well as the tax deduction.
Matching Gifts: Many corporations will match a gift made to the Black Bear Club. Your gift to Maine Athletics may be matched or even doubled by your employer. Matching gift forms may be obtained through your employer (usually the human resources or personnel offices) and should be submitted with your contribution. The Black Bear Club may be of assistance regarding questions concerning matching gift companies.
Memorial Gifts: The memory of a loved one may be preserved through a gift to the Black Bear Club. A memorial gift is acknowledged to the family of the deceased and you will receive a tax deduction.
Named Annual Scholarships: An annual scholarship may be created by making a minimum gift of $10,000 to fund a scholarship each year. Full and partial scholarships may be established. The entire amount of the gift is awarded annually in the donor's name.
Planned Gifts: Planned and deferred gifts are an increasingly popular way to donate to Maine as they allow for more flexibility with your gift. Gifts of insurance, annuities, will provisions and trusts are only a few ways to leave a legacy to Maine.
Real Estate: The Black Bear Club accepts certain gifts of real estate and evaluates each property based on valuation, market and tax implications.
Stock: You may want to consider using stock instead of cash to make a gift to Maine. If stock you have owned for more than one year has appreciated in value since you first acquired it, you can donate it directly to Maine instead of selling it yourself. You can avoid a hefty capital gains tax AND you can receive an income tax charitable deduction based on the market value of the stock on the day you donate it.
Securities: Many Black Bear Club members wish to donate through gifts of securities. The donor may avoid capital gains taxes for appreciated securities and may also claim a charitable income tax deduction based on the fair market value of the securities on the date on donation. The donor will receive full gift credit at the time of the transaction.
Fiscal Year: The Black Bear Club fiscal year commences on July 1 and operates through June 30 of the following year. Ticket priority is awarded for the prior fiscal year. In other words, you must make a gift to the Black Bear Club in the prior fiscal year in order to receive priority points for the current year.
Cash Gifts: Gifts of cash are the most common form of donations. Cash and checks are recorded and acknowledged through the Black Bear Club. Checks should be made out to the Black Bear Club.
Credit Cards: Making a donation by credit card is one of the most convenient and quick ways to join the Black Bear Club.
For more information on giving to UMaine Athletics, contact us at:
5747 Memorial Gymnasium
Orono, ME 04469