Financial
Disbursements
For the fiscal year ended June 30, 2009, the UM Foundation distributed $29.7 million to fund scholarships, academic support and facilities and equipment. Disbursement levels vary from year-to-year depending upon donation levels as well as the timing of the University needs.
The UM Foundation distributes funds to the University in four ways as directed by its donors. A gift may be Restricted or Unrestricted, Current or Endowed.
Restricted Gifts are those whose use is designated by the donor at the time of the gift. The UM Foundation maintains more than 1,400 distinct funds, providing donors with a great deal of flexibility in identifying how their donation is employed. Unrestricted Gifts are made available to the University for its areas of greatest need. Some unrestricted gifts fund a small portion of the operations of the Foundation.
Current Gifts are those in which the donated amount is immediately available for use.
Endowed Gifts are pooled and invested in the UM Foundation’s Long-Term Investment Portfolio. In accordance with its spending policy, 4.25 percent of the amounts so invested are made available for spending for a use designated by the donor at the time of the gift.