Foundation Terminology

Dashboard

An electronic tool for our clients to view current and active account information directly from our financial software via a remote access connection to a Foundation server.

De Minimis rule

An IRS rule related to fringe benefits that essentially says that considering the value and frequency with which an item is provided, it may be so small as to make accounting for it as income to the recipient unreasonable and impractical. The rule further states that a cash or cash equivalent payment (giftcards) can never be considered a de minimis benefit and must be reported as income to the recipient.   

Determination Letter

Issued by the IRS, the Determination Letter verifies our status as a 501(c)(3) organization under the Internal Revenue Code. Grant submissions often require a copy of the Determination Letter with a  proposal package. A PDF version of our IRS Determination Letter is available for download from the Corporate Documents area on the "About the Foundation" page of the website.

Disbursement Request Form (DRF)

Form used to request checks from the Foundation to make payments to vendors or other payees or to reimburse campus accounts. 

Discretionary Fund

An account from which money can be expended, without restrictions, at the discretion of a designated person or group of people such as a University President or College Dean.

Donee

An organization that receives a charitable gift.

Donor

Person or organization who donates or gives to a charity.

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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