Frequently Asked Questions
What is a Founders’ Pledge?
The Founders’ Pledge is a nonbinding commitment to make a future gift to Illinois reflective of your success and the success of your venture.
Who can make the pledge?
Any Illini founder, owner, innovator, investor, early employee, or social changer can make the Founders’ Pledge.
How do I make the pledge?
Through the Founders’ Pledge webform. If you’d like to speak with someone first, please contact us here.
When do I make the pledge?
You can make the pledge at any time.
Why would I make the pledge?
Because you believe that Illini founders can change the world, and you want to be recognized alongside others doing the same. You believe that philanthropy is integral to success, and you want to inspire and uplift the next generation of Illini.
Where does my gift go?
Where you choose to give on campus is a personal decision. You can give to the university, a college, department, center, or program, to scholarships, the student experience, entrepreneurship, etc. You will choose your gift designation when you fulfill your Founders’ Pledge.
How do I fulfill my pledge?
When you are ready to make your gift, our advancement team can help determine how to structure your gift, given your unique financial situation or that of a liquidity event. If you aren’t working with someone in advancement at Illinois already, let us know, and we’ll get you connected.
If I’m overseas, can I still make the Founders’ Pledge?
Absolutely. Anyone anywhere can make the Founders’ Pledge.
What if I have more than one company?
Great! The Founders’ Pledge recognizes the success of Illini founders and their one or many ventures. You can list up to three companies on your Founders’ Pledge.
Is my founders’ pledge on the cap table?
No, your pledge is a personal commitment to make a future gift that makes sense financially for you. It can be fulfilled in a variety of ways including as a portion of your personal proceeds from an exit.
What if I never exit?
You do not need to have a liquidity event to fulfill your pledge. The Founders’ Pledge is a commitment to make a gift reflective of the success of your company, which may occur well before or in the absence of a liquidity event.
Is there a minimum gift amount?
Every gift to Illinois creates an impact. We encourage you and all Illini to show your support with annual gifts at any time and of any size. The Founders’ Pledge specifically is your commitment to make a future stretch gift, reflective of your success and that of your company.
What if I’ve already made a gift because of a previous liquidity event or profitability?
Congratulations on your success, and thank you for your previous support! If you’d like to be recognized alongside other Illini innovators who are making a commitment to supporting Illinois, please let us know.
If I’ve created my own foundation/fund, can I give through that?
Typically, yes. When you are ready to fulfill your pledge, let us know, and we’ll get you connected to a member of our advancement team to talk details.
Can I pledge equity in my company?
The Founders’ Pledge doesn’t require an equity commitment or a commitment of any kind upon making the pledge. Our advancement team can talk with you about structuring your gift when you are ready to fulfill your pledge.
Can I pledge product?
These gifts in kind can have tax implications and additional requirements. Let’s talk about what you are considering pledging.
Can I set up a fund now with my future commitment?
We’re happy to talk about your gift intentions to see if it makes sense to set up a fund now or later. Contact us here.
What if my business fails?
We know that founders often move right on to their next venture. If you’d like to have the company name updated on your pledge, please let us know. You are also welcome to cancel your pledge if you’d prefer.
What are the tax implications for making the pledge?
When you are ready to fulfill your pledge, our advancement team will help structure a gift that makes sense for your personal tax and financial situation. You can use the chat window to get started.