Restrictions | Accepting Gifts from Faculty and Staff | Philanthropic Gifts-in-Kind | Private Fundraising and Stewardship | Definitions | 

The Foundation, consistent with the University policy, will not accept any gift that contains restrictions based on race, color, religion, creed, sex, or national origin.

The Foundation cannot accept any funds transferred from the University of Maryland, Baltimore or intended for deposit to the University of Maryland, Baltimore.

The Foundation cannot accept any funds from the State of Maryland or Federal office.

With regard to gifts designated for scholarships, fellowships, or other student financial aid, the Foundation will not accept any:

• Restrictions that permit the donor to designate an individual recipient, or relative of the donor as a recipient.
• Restrictions related to the future employment of the recipient; except where such restrictions are consistent with the purpose of the establishment of the award and does not inure to the benefit of the donor or any other private individual or corporation;
• Restrictions by the donor regarding conditions or terms of repayment, including interest, of loans to students from the donated funds or their proceeds.

With regard to rare and unique gifts (e.g., art, stamp collection, real estate, etc.) a tiered review will be conducted in the Office of UMB Foundation Operations. Initially, the Office of Foundation Operations will consider gift acceptance. If required, the Foundation’s Finance Committee will consider the gift.

This list is intended to be illustrative and not inclusive. Please consult the Office of Foundation Operations with any questions.

UMBF welcomes gifts from UMB employees. It also recognizes the donor’s right to designate a preferred, restricted purpose for his or her gift.

Under IRS regulations, however, a charitable deduction must not fall under the control of the donor, and the donor cannot “receive or expect to receive a benefit from the use of the funds” (IRS Publication 526‐Charitable Contributions ). Therefore, all gifts from faculty and staff members must be credited to either departmental or school accounts that are controlled by an individual other than the donor. If members of the immediate family also work at the University, this prohibition also extends to any accounts that those immediate family members may control.

Employees can designate their gifts to a departmental discretionary fund that is fully controlled by the chair of the department and can be used to support the activities of all faculty and staff members, including the donor. However, to ensure appropriate financial controls, if a faculty or staff member contributes to an account for which they have signature authority, the immediate supervisor of the employee must also sign the disbursement form.

As with all gifts, donations from faculty and staff members must be routed through the UMB Foundation Office of Gift Administration.

The Foundation will not accept any gifts that will obligate the University to further expense unless agreed upon by the Foundation and the University.

Gifts-in-kind are accepted on a case-by-case basis and receipted as such. Gifts of real estate are not covered by this policy. To be accepted, a gift-in-kind must serve the mission of the School or administrative unit accepting the gift and be approved before acceptance. Internally, and for tax reporting purposes, a gift-in-kind is valued at its face or fair market value (the amount a willing buyer would pay a willing seller in an arm’s length transaction).

Please consult the UMB Policy on Accepting Gifts in Kind for the policy statement and additional guidance.

If there are questions about a gift-in-kind UMB Foundation Office of Gift Administration should be consulted for more information about next steps before making a determination about the gift: GiftAdmin@umaryland.edu.

Please also see the USM Policy for additional information.