The major source of revenue for the USM Foundation is from individual, corporate, or foundation contributions and grants. Revenue is also received from special fundraising events, auctions, raffles, sales of merchandise, fees for conferences and seminars, affiliate programs, fees for performance, etc.
These policies ensure that all revenue is properly solicited and accepted, promptly deposited, recorded, and acknowledged, and managed to comply with any and all donor restrictions.
The USM Foundation will not return contributions received. While we are aware that some charities will return charitable gifts, doing so is a technical violation of the 501(c)(3) rules. A 501(c)(3) organization is required to use its assets solely and exclusively to advance its 501(c)(3) purposes. Once a contribution is received and deposited, the USM Foundation is obligated to use the funds to advance its 501(c)(3) purposes.