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Endowment

The University Musical Society (UMS) is in its first-ever fundraising campaign, with a major goal to raise significant endowment funds to protect UMS from an increasingly erratic arts funding environment.

UMS is the only university presenter in the U.S. to receive endowment challenge grants from two of the leading national arts foundations in the first year of their respective programs. These challenge grants will multiply the impact of endowment gifts, providing UMS with $1.50 for every $1.00 an individual designates to endowment.

The Campaign for UMS is part of The Michigan Difference campaign. A gift to UMS counts toward the University of Michigan's fundraising campaign, and a gift to the University can be designated to UMS.

THE CHALLENGE GRANTS

Doris Duke Charitable Foundation: Leading College and University Presenters Program

  • The Doris Duke Charitable Foundation awarded $750,000 to UMS in June 2006, including $250,000 in cash and $500,000 as a two-year endowment challenge.
  • To receive the $500,000, UMS must raise $1 million in matching endowment funds by June 2008.
  • All matching endowment funds must support artistic programming at UMS. This can include endowments for concert or series sponsorships, education program support, funds to commission new works, endowed staff positions, or endowment for general support.

Wallace Foundation: The Wallace Endowment Fund

  • UMS received a $1 million Wallace Foundation Excellence Award in December 2004 as a challenge grant for endowment.
  • To receive the $1 million, UMS must raise $1 million in matching endowment funds by June 2009.
  • All matching endowment funds must support activities that build public participation in UMS programs. Most endowment funds that meet the eligibility requirements for the Doris Duke Challenge would also qualify for the Wallace match.

THE BOTTOM LINE

  • Both the Duke and Wallace foundations have given permission for UMS to count matching endowment gifts toward both challenges, provided the goals of the gift are in alignment with the purposes of the two programs.
  • An individual can make a gift to the general UMS endowment fund or, with a gift of $50,000 and above, establish a separate endowment fund. Matching funds from the challenge grants will then be added to the UMS endowment fund.
DONOR MAKES A GIFT TO UMS ENDOWMENT
Gift is matched dollar for dollar by the Wallace Endowment Fund
Gift is matched 1:2 by the Doris Duke Endowment Fund
TOTAL IMPACT ON UMS ENDOWMENT 		$100,000
$100,000
  $50,000
$250,000