The Policy on Stewardship and Management of Gift Funds 602.03 applies to all Schools, Colleges, and Units on the Ann Arbor, Dearborn, and Flint campuses.
An accompanying eLearning module, GFSM 101 – Stewardship & Management of Gift Funds, covers the Policy on Stewardship and Management of Gift Funds at the University. It should be taken by any faculty, staff, and administrators, most especially those in finance, development, and anyone with spending authority over a gift fund.
Faculty, staff, and administrators across the university will ensure that expendable gifts and distributions from endowments are spent in a timely manner and in compliance with donor intent.
For funds that have Low or Moderate utilization or spending, the following actions are recommended:
- Confirm fund purpose, identify and resolve any other information gaps about the fund.
- Assign a Project Grant Review Indicator in the Donor and Alumni Relationship Tool (DART) from the following list:
- Implementing strategic utilization plan
- Accumulating funds in PG for future utilization
- Investing in quasi/true endowment for future utilization
- Consolidating within the SCCU
- Transferring from one SCCU to another
- Pursuing amendment or modification
- Maintain documentation to demonstrate progress towards improved utilization.
I am faculty, staff, or an administrator with spending authority over a gift fund. Where do I begin?
Learn more about the Gift Funds Stewardship & Management program, as well as required administrative responsibilities, on our Guidance page.
Visit our FAQ page for answers to common questions, or contact dedicated support staff in your unit.