The purpose of this study was to examine the financial contributions of former student-athletes at the University of North Carolina, and the factors that affect or may affect contributions. Development information on giving history to academics and athletics since 2000 of all 7,537 living former athletes was gathered. Additionally, 1,236 former student-athletes participated in an e-mailed survey for a response rate of 27.6%. Empirical analysis indicated that academics received a substantially higher amount of funds than athletics, despite perceptions of the opposite. A chi-square test of association showed that former athletes that donate to athletics are more likely to donate a higher amount to athletics, and have a stronger likelihood to contribute more to athletics by joining an association specifically for student-athletes if certain benefits were available. Participants were more satisfied with their academic experience as a whole, and their giving was most affected by satisfaction with experience as a student-athlete at the University of North Carolina.