Gifts - Budget Overview - UMass Amherst Provost's Office

Provost's Office > Administrative Info: Financial > Budget Overview > Fund Types: Gifts

The following links contain more detailed information about the most important budget allocations and other FUND types available in the Academic Affairs Executive Area, and their respective operational procedures.

Operating Budget

Revenue-based Funds

Grants and Contracts

Research Trust Funds (RTF)

Gifts

Source and Use

Donations are made either to the Amherst campus as a whole, or gifts may be restricted to specific departments or purposes by alumni and friends of the University. This FUND type may be categorized as "restricted" in the sense that a donor usually specifies the recipient department or activity to be funded. Within those donor boundaries, however, expenditures can be made for almost any item consistent with the University’s mission and state ethics legislation.

Procedure

The Development Office (http://www.umass.edu/development/) (part of the University Advancement Executive Area) provides support to academic departments to help raise gift money. This Office conducts the campus’ capital (development) campaigns. Each College and School and Library is assigned a Development Officer. Faculty, department heads and chairs, deans, and other senior administrators also play a significant role in fund raising. Gifts are sought for both endowments and for cash not invested through an endowment. Each academic department on campus, and some other offices, usually has a single restricted gift fund used for the deposit of (non-endowment) cash.

Interest on Endowments and the University Foundation

Endowments are usually managed by a separate organization outside of the University, called the University Foundation. Policies are issued by the UMASS Foundation about the amounts of a donation required for various categories of endowments, including various types of endowed chairs for faculty members. Donated funds are deposited with the UMASS Foundation for investment. An overhead charge is levied to cover Foundation costs.

The annual interest earnings from the financial investment of endowed funds is made available to the campus recipient in several ways. Information on current procedures can be obtained from the campus’ Controller’s Office or the University Foundation.

		Gifts
		Provost's Office > Administrative Info: Financial > Budget Overview > Fund Types: Gifts Budget Overview The following links contain more detailed information about the most important budget allocations and other FUND types available in the Academic Affairs Executive Area, and their respective operational procedures. Operating Budget Revenue-based Funds Grants and Contracts Research Trust Funds (RTF) Gifts Gifts Source and Use Donations are made either to the Amherst campus as a whole, or gifts may be restricted to specific departments or purposes by alumni and friends of the University. This FUND type may be categorized as "restricted" in the sense that a donor usually specifies the recipient department or activity to be funded. Within those donor boundaries, however, expenditures can be made for almost any item consistent with the University’s mission and state ethics legislation. Procedure The Development Office (http://www.umass.edu/development/) (part of the University Advancement Executive Area) provides support to academic departments to help raise gift money. This Office conducts the campus’ capital (development) campaigns. Each College and School and Library is assigned a Development Officer. Faculty, department heads and chairs, deans, and other senior administrators also play a significant role in fund raising. Gifts are sought for both endowments and for cash not invested through an endowment. Each academic department on campus, and some other offices, usually has a single restricted gift fund used for the deposit of (non-endowment) cash. Interest on Endowments and the University Foundation Endowments are usually managed by a separate organization outside of the University, called the University Foundation. Policies are issued by the UMASS Foundation about the amounts of a donation required for various categories of endowments, including various types of endowed chairs for faculty members. Donated funds are deposited with the UMASS Foundation for investment. An overhead charge is levied to cover Foundation costs. The annual interest earnings from the financial investment of endowed funds is made available to the campus recipient in several ways. Information on current procedures can be obtained from the campus’ Controller’s Office or the University Foundation.
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