In recent years, philanthropy in higher education has shifted from a value-added financial benefit into a necessary component for balancing annual budgets and increasing college access. Identity-based philanthropy in higher education is gaining prominence in both practice and scholarship, recognizing that social identities are strong influences on alumni engagement and giving. However, scholarship and practice involving lesbian, gay, bisexual, trans, and queer (LGBTQ) alumni is scarce and mostly anecdotal, relying on professional or personal experiences and not empirical evidence. As such, the purpose of this study was to conceptualize and validate factors for LGBTQ alumni philanthropy. Results from this study provide empirical evidence for conceptually and empirically valid factors for LGBTQ alumni philanthropy. Grounded in concepts from both higher education philanthropy and LGBTQ student research, these factors provide significant contributions within both research and practice. This study confirmed conceptually and empirically valid factors for LGBTQ alumni philanthropy. These measures will facilitate new understandings within both research and practice and also give voice to an important alumni community.