An alumnus ((masculine), an alumna ((feminine), or an alumnum ((gender-neutral) of a college, university, or other school is a former student. The word is Latin and simply means student. The plural is alumni for men and mixed groups and alumnae for women. The term is often mistakenly thought of as synonymous with "graduate," but they are not synonyms; one can be an alumnus without graduating. (Burt Reynolds, alumnus but not graduate of Florida State, is an example.) An alumnus can also be a former member, employee, contributor, or inmate.
A beneficiary (also, in trust law, cestui que use) in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor.
Patronage is the support, encouragement, privilege, or financial aid that an organization or individual bestows to another.
Sponsoring something (or someone) is the act of supporting an event, activity, person, or organization financially or through the provision of products or services.