Foundation staff can assist in writing a detailed fund description specifying how the fund will be used and administered or, if you prefer, the fund may be left unrestricted with the President of the University or the Foundation Board of Directors determining how the funds should be used to benefit the University of Maine. Click here for a sample fund description.
Funds may be endowed or quasi-endowed. Permanent endowments specify the principal is to be invested and only the distributions as prescribed by the Foundation Board of Directors (approximately 3.25%) can be distributed–please refer to the UMaine Foundation Endowment Spending Policy. A quasi-endowment is managed like a permanent endowment except that the entire fund may be expended in accordance with donor stipulations.
Once established, funds are invested as part of the General Endowment Fund of the University of Maine Foundation. The General Endowment is a professionally managed pool of assets that provides much-needed support of the University of Maine. Here is our latest Investment Performance Report and Investment Objectives and Guidelines.
You may establish a fund during your lifetime or upon your death with one of our deferred giving plans. Many donors choose to establish a fund and contribute to it over their lifetime and provide an additional gift upon their death. A named fund can be established for as little as $10,000, but the Foundation will accept smaller amounts to which additional sums may be added over time. See the various funding options available for making current or deferred gifts.
- Example: Donor establishes an endowed scholarship fund in memory of his or her parents with a gift valued at $10,000. Let’s assume the average net investment return of the General Endowment Fund is 6% and the amount of income distributed to the University is 3.25%.
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The University of Maine Foundation has professional giving officers ready to work with you and your advisors.
We may be reached Monday through Friday between the hours of 8 am and 5 pm by calling 1.800.982.8503
or via email at email@example.com.
Donor-Advised Funds: A convenient, cost-effective alternative to running a private family foundation, a donor-advised fund lets the donor consolidate charitable giving to the University of Maine as well as to other worthy causes of one’s choosing.