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Frequently Asked Questions
► The University of Maryland is a state
institution and receives public funding.
Doesn’t my tax money and tuition cover your
costs?
Over the last three decades, national
and state funding for higher education has
decreased steadily. Currently, support from
the state of Maryland provides less than
26 percent of the university’s annual operating
budget.
► What are the Smith School’s highest priorities
for funding?
The Smith School aims to support
students,
faculty,
facilities
(buildings and technology) as well as
innovation through support
from alumni, friends and companies.
Gifts can help support the people involved
in the Smith School by creating scholarship
funds for undergraduate, MBA and PhD students.
Donors can also create endowed chairs or
professorships.
Van Munching Hall, home of the Smith
School, houses a variety of
learning and
teaching environments. The Smith School
must maintain, and hopes to grow, our top-class
facilities.
The Smith School seeks to keep students
familiar with current innovations in technology
hardware and software that corporations
use to conduct their business. Alumni gifts
provide the necessary funding required to
secure the latest technology.
► What are the tax benefits of making a
gift to the Smith School?
Gifts are tax deductible; bequests and
trusts gifts offer particularly significant
tax benefits. The Office of External Relations
is happy to assist you, but as with any
charitable contribution, you should consult
your own financial advisor and/or attorney.
► How can I leave the Smith School something
in my will?
Working with your attorney, the preferred
language is:
"I give, devise, and bequeath to the
University of Maryland College Park Foundation,
a tax-exempt organization located at 2119
Main Administration Building, College Park,
MD 20742, (insert a percentage of estate,
or residue or sum of money, or otherwise
describe property) to support the Robert
H. Smith School of Business' general (or
insert specifics) purposes.
The External Relations Office and the
University Planned Giving Office are happy
to work with you and your attorney and financial
advisors regarding bequests.
► I was an MBA at the Smith School. How
can I financially support the Smith School
as an alumnus?
There are a variety of ways that you
can contribute to the growth of the Smith
School, including cash gifts, appreciated
securities, real or personal properties,
bequest, life insurance, and charitable
remainder trusts. In each case we will work
closely with you to determine how the gift
can help accomplish your philanthropic goals.
You can find more specific information about
each type of gift in the Ways of Giving
section of this website.
► How should I make my gift to Smith School?
Credit card gifts can be made online
or by calling the Office of External Relations
at (301)405-9456.
Checks should be made out to University
of Maryland College Park Foundation, with
a notation that the gift is designated to
the Smith School of Business. Also indicate
the area where you are directing your gift,
which may include
-
the Scholarship Fund for Undergraduates,
MBAs or general use,
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the Facilities Fund
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the Dean’s Fund, which is directed
to areas of greatest need.
This may be done in the check memo or
in a signed note or letter accompanying
the check.
Checks should be mailed to:
Office of External Relations
Robert H. Smith School of Business
2520 Van Munching Hall
College Park, MD 20742
► How will the Smith School acknowledge
my gift?
A tax receipt for your gift will be mailed
within a week of its processing. The Smith
School Honor Roll is published annually
and lists the names of all those who have
contributed in the past fiscal year. If
you prefer no public recognition, you may
request that your gift not be listed. Any
gift of $1,000 or more in a single fiscal
year qualifies you as a member of the Clock
Tower
Club.
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►Make a
gift online now!
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