Foundation Terminology

Gift

Describes donations to the foundation for the benefit of our clients.  A gift is bestowed voluntarily and without receiving anything in return. Gifts can come in the form of check, money order, credit card, stock, or other tangible property.

Gift-in-kind

 

Non-cash contributions such as real estate, equipment, and art.

 

Governance

 

The act of running or managing an organization. The USM Foundation Board of Directors has a Governance Committee which provides oversight of the Foundation’s structure, and reviews policies and processes to insure compliance with the Foundation’s bylaws, mission, and best practices.

 

Grant

Money received to fund a particular project or program, usually as a result of a proposal submitted to the granting organization. There are various policies and procedures related to whether the Foundation can be awarded grant funds, and also various monitoring and reporting requirements related to grant awards and unique to individual grants that must be followed.

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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