At the University of Maryland, Baltimore (UMB), our mission guides our path forward: “To improve the human condition and serve the public good of Maryland and society at-large through education, research, clinical care, and service.” Endowed funds ensure this work continues to evolve and grow, supporting continued progress and expanding opportunity for generations to come.
Managing the Endowment
Philanthropic contributions to benefit UMB are invested through one of three endowment pools: the University of Maryland Baltimore Foundation (UMBF), the Common Trust of the University System of Maryland, or the University System of Maryland Foundation (USMF).
The UMBF Board of Trustees oversees most of the funds that comprise UMB’s endowment portfolio and sets the annual spending rate. With a strong commitment to honoring donor intent, the board ensures gifts are invested responsibly to support today’s University priorities while preserving resources for enduring success.
To strengthen long‑term growth and broaden investment opportunities, UMBF pools its assets with those of other University System of Maryland institutions through USMF. The USMF Investment Committee establishes investment strategies, selects and monitors managers, and oversees performance for the pooled endowment. Funds held in the Common Trust and USMF are similarly managed within this pooled structure.
Investment Approach
The endowment’s investment goal is to provide dependable annual support for UMB programs while maintaining the long-term purchasing power of donor gifts. The USMF Investment Committee follows disciplined principles designed to promote stability and sustainability over time and through market fluctuations, including maintaining a long-term perspective, supporting equitable spending across generations, and diversifying investments to manage risk and reduce volatility.
Endowment Spending
Spending rates are established annually for each endowment pool, taking into consideration broad factors such as market performance and inflation, and more fund-specific factors like the fund age and the variance between market value and historic gift value. Spendable income is calculated using each fund’s market value as of the prior December 31, allowing full distributions from funds that are above water and more limited spending from funds classified as at-risk or underwater. This fiscal year, the total amount of spendable income available to support UMB’s mission is $22.3 million.