Accounts generally are classified as Operating or Endowment Accounts. Operating accounts, also known as Current Use accounts, are invested separately from Endowment Accounts. Funds in operating accounts are available for current use spending. Endowment accounts are established by donors to exist in perpetuity with annual spending determined by the donor’s wishes or governed by the Foundation’s spending policy. 

Quasi-endowments are accounts invested as an endowment, but funds are earmarked for a specific use by the board rather than restricted by a donor or other outside agency. The principal of such funds can be spent at anytime like an Operating account.

For system tracking purposes account types are classified by their numbering scheme as follows:

XX in the first two characters represent the institution

XX-2xxxx Current Use program and faculty support accounts

XX-3xxxx Current Use Scholarship accounts

XX-4xxxx Endowment accounts

XX-44xxx Quasi-endowment accounts

XX-50xxx Current Use research accounts

XX-55xxx Grant Accounts

XX-6xxxx Special program or event accounts

 

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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