The Monthly Ledger
A publication by the USM Foundation's Business Office
Contact Us!
If you ever have an issue, a problem, or a question, please visit our support page
We can certainly be reached at our email account at, but the new form will help us process your questions, concerns, and issues more efficiently. 
Important Dates

10/28: USM Foundation Training, 9am-12pm. 

For more details and to register, please click here. Training will be held in the USM Foundation Conference Room of the Elkins Building.

Quick Links





Sam Gallo, our Chief Investment Officer, and his investment office staff have been selected as one of six finalists for the Asset International CIO Magazine's 2014 Industry Innovation Award for Foundations. Sam and his team have worked diligently over the past couple of years to re-engineer the way we manage our investments and we are proud of the recognition they are receiving for their hard work. Winners will be announced in December.
September 18, 2014
What's New!


Fall has definitely been in the air for the last few days and to celebrate its arrival we will use this edition of the newsletter to cover a cornucopia of topics....


Audit Report 

Our Audited Financial Statements for Fiscal Year 2014 are now available on our website.  


Art Contest Deadline

The deadline for submissions of artwork for the cover of our annual report is this Sunday, September 21st. The contest is open to all faculty, staff, and students at USM institutions. Read more about it here.


Spendable Income Question

We have had a number of requests recently to have spendable income "moved back to principle." Since this seems to happen every year around this time, we thought we should clarify how we manage your spendable income dollars. The most important thing to note is that we do not remove your spendable income from your endowment until you submit a disbursement request and we create the check. Until this happens, your spendable income is fully invested in the endowment pool. We calculate what you will have available in spendable income, and we segregate those amounts in your reports, but we do not move dollars until you actually spend the money.



If you experience any extraordinary slowness while accessing your dashboards, please let us know immediately. It should take about a minute for the Financial Edge login process and another 45 - 50 seconds for your dashboard to load or refresh. If it takes any longer we need to know so we can run the necessary server utilities or reboot the remote server.


Service Commitments

We have had a number of rushed requests recently. While we will make every effort to handle these, this may not always be possible. Please plan accordingly. We have documented our deadlines and turnaround times here and ask that you refer to this when planning any work that will need to be reviewed or processed by the USMF Business Office.


Contracts and Quotes 

Before sending a contract or quote to us for signature please ensure that the USM Foundation (or an applicable DBA such as UMBC Foundation or UMES Foundation) is shown throughout the document as the client or customer. Often times the school is shown instead of the Foundation and we have to send these back to be revised before we can sign.


Solicitation Policy

Lastly, we want to remind you that all solicitations for contributions, conferences, seminars, special fundraising events, grants, or other activities where the funds are to be deposited in a USM Foundation account MUST be identified as USM Foundation activities. You can find this policy and suggested wording here. This policy must be followed regardless of the type of solicitation. So a simple e-mail, a website announcement, or a fancy mailing all must adhere to this policy. Also, all solicitation materials must be submitted for review and approval by the Foundation before being published.