Frequently Asked Questions

  1. The University of Maryland is a state institution and receives public funding. Doesn’t my tax money and tuition cover your costs?
  2. What are the Smith School’s highest priorities for funding?
  3. What are the tax benefits of making a gift to the Smith School?
  4. How can I leave the Smith School something in my will?
  5. I was an MBA at the Smith School. How can I financially support the Smith School as an alumnus?
  6. How should I make my gift to Smith School?
  7. How will the Smith School acknowledge my gift?

1. 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.

2. 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.

3. 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 Development and Alumni Relations is happy to assist you, but as with any charitable contribution, you should consult your own financial advisor and/or attorney.

4. 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 Office of Development and Alumni Relations and the University Planned Giving Office are happy to work with you and your attorney and financial advisors regarding bequests.

5. 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.

6. How should I make my gift to Smith School?

Credit card gifts can be made online or by calling the Office of Development and Alumni 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,
  • the Facilities Fund
  • 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 Development and Alumni Relations
Robert H. Smith School of Business
2520 Van Munching Hall
College Park, MD 20742

7. 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.