Policy 535.00 - Gifts Made to UMUC
ORIGINATOR: Vice President, Institutional Advancement
SUBJECT: Gifts Made to UMUC
The Office of Development, which receives and processes gifts made to UMUC, carries out three major functions for the institution:
- Identifies programs and needs as likely candidates for outside funding; seeks, in coordination with the President, division directors, and unit heads, private gifts from corporations, individuals, and foundations to support identified needs; and seeks unrestricted funds for the President to use for discretionary purposes to advance UMUC.
- Builds a coalition of external constituents from alumni and friends, as well as the corporate and political community, to assist in promoting UMUC's programs and to increase understanding of its mission.
- Serves as the central location to receive, acknowledge, and process all cash, in-kind, and deferred gifts made to the institution. Oversees maintenance of all computerized and written records relating to donors and advocates. As one of the 11 campuses of the University of Maryland System, UMUC is required to comply with University System guidelines in receiving and processing private gifts. Private gifts include cash, in-kind (e.g., equipment, materials) and gifts made through a will or insurance policy in which UMUC or University of Maryland Foundation is named the beneficiary.
Receipting, Reporting, Record Keeping
- All private gifts solicited or obtained by any unit, department, or division of UMUC must be reported to the Office of Development within 48 hours of receipt. This may be done by producing correspondence or any other paperwork relating to the gift or by notifying the Office of Development by memorandum stating the type of gift, the cash amount, the donor's name and address, the purpose of the gift, and the designated department within the institution, if any.
- All gifts will be processed in a timely manner, in accordance with UMUC gift processing procedures. A Standard Operating Procedure for gifts is available for review in the Advancement Office. It includes procedures for gift receipt, designation, deposit and acknowledgment.