Private gifts from alumni, parents, and friends are solicited and processed by staff in the Office of University Advancement. Once gifts are processed and acknowledged, the funds are then managed by staff in the University of Mary Washington Foundation office.
All funds are managed in accordance with Financial Accounting Standards Board (FASB) standards. Some are held temporarily and transferred to the University per restrictions specified by the donor. Others are permanently endowed and are managed in perpetuity by the Foundation per request of the donor.