Foundation Terminology

Capital Campaign

An organized program to solicit and accumulate substantial monies to finance major initiatives.

Carryover

Used in referring to Spendable Income. Any unspent spendable income from the prior two fiscal years is the carryover spendable income for the current year.

CASE – Council for the Advancement and Support of Education

A professional organization serving educational institutions and the advancement professionals who work on their behalf. CASE provides standards and an ethical framework for the profession, many of which have been adopted into the policies and procedures of the USM Foundation.

Cash Deposits

The foundation does not accept cash.  If you have a situation where cash is involved, please convert to money order or personal check and use that for the deposit.

Charitable Gift Annuity (CGA)

A gift vehicle that falls under the category of Planned Giving. It involves a contract between a donor and a charity whereby the donor transfers cash or property to the charity in exchange for a partial tax deduction and a lifetime stream of annual income from the charity. When the donor dies, the charity keeps the remaining funds.

Combined Federal Campaign (CFC)

Similar to the Maryland Charity Campaign. This is a fundraising campaign that allows federal employees to designate donations to any USM Foundation account via payroll deductions. Monies are deducted from each paycheck. All deductions for all employees are accumulated and sent to a CFC administration office for processing, reporting, and disbursement back to the designated donee organizations.

CRAT – Charitable Remainder Annuity Trust

A CRAT is a gift vehicle that entails a donor placing a major gift of cash or property into a trust.  The trust then pays a fixed amount of income each year to the donor or the donor’s specified beneficiary.  When the donor passes away, the remainder of the trust is transferred to the charity.

CRUT – Charitable Remainder Uni Trust

A unitrust or CRUT, is a gift vehicle similar to a CRAT except instead of the annual annuity payment being a fixed amount it requires that a fixed percentage (minimum 5%) of the annual market value of trust assets be paid to the income beneficiary. 

Current Use Account

Also known as an Operating Account. This is an account whose funds can be used in totality at anytime.

Custodial fees

Administrative fee charged by the Foundation’s investment bank.  This fee is allocated to endowment accounts.  The bank may not provide an invoice every month - therefore you may not see this fee monthly.

CY- Current year

We use CY to refer to our current fiscal year which runs from July 1 – June 30.

Our Vision

Our vision is to attract broad resources that transform the USM and its institutions, create a network of advocates to embrace the USM’s role as an educator and economic engine, and to grow a long-term, sustainable culture of philanthropy across the University System of Maryland.

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