FAQ

1. Definition of ‘Gifts’
‘Gift’ may be in cash or in kind given voluntarily by a donor. The gift can be either ‘restricted’ or ‘unrestricted’. ‘Restricted’ means that the donor specifies a condition(s) upon which the donation can be used. ‘Unrestricted’ means that the donor does not specify any condition for the utilization of the gifts.

2. Types of Gifts
2.1 Monetary Donations: Monetary donations may be given in the form of cash, cheque, electronic funds transfer, credit card transaction, or other cash or monies transfer media accepted by the University.
2.2 Gifts-in-Kind: Gifts-in-Kind are donations of property or item other than cash.
The gift can include donations of land, buildings, marketable securities, equipment, furniture, collectable objects, library materials, archival materials and office supplies.
2.3 Gifts-of-Securities: Gifts-of-Securities are donations of gifts in the form of shares or securities, which include also donation of mutual funds.
2.4 Pledged Gifts: Pledged-Gifts are future committed gifts or donation in cash or kind with clear description of intent and purpose from the donor and include unrestricted gifts.
2.5 Gifts for Student Awards and Scholarships: The University accepts gifts for Student Awards for specific purposes, and also Student Scholarships to fund their studies.

3. Definition of ‘Endowment’
‘Endowment’ is a transfer of monies or properties as a donation to USM. An endowment may come with stipulations regarding its usage. In some circumstances an endowment may be required to be spent in a certain way or alternatively invested, with the principal to remain intact in perpetuity or for a defined time period. This allows for the donation to have an impact over a longer period of time than if it were spent all at once.

4. Types of Endowment

Permanent Endowment: With Permanent Endowment, the donor specifies that the principal amount is to be invested and maintained in perpetuity; it cannot be spent. Only the income/interests derived from the investment may be utilised.
Quasi Endowment: With Quasi Endowment, the University must retain the purpose and intent of the fund as specified by the donor or source of the original funds and only income/interests may be spent for those specified purposes. The principal may be expended if stipulated by or in consultation with the donor.
Term Endowment: With Term Endowment, all or part of the principal amount given by the donor may be expended after the expiration of a stated period of time or occurrence of a specified event, depending on the donor’s wishes.

5. Who can contact if I have other questions?
PEJABAT PEMAJUAN USM/ PEJABAT YAYASAN USM,
Tingkat 5, Bangunan Canselori,
Universiti Sains Malaysia, 11800 USM, Pulau Pinang, Malaysia
Tel: +604-653 6281
Fax: +604-653 6329
Email: yayasan@usm.my/ fadzilla@usm.my

6. What are the tax benefits that I can obtain as a donor?
Kindly contact us via:
PEJABAT PEMAJUAN USM/ PEJABAT YAYASAN USM,
Tingkat 5, Bangunan Canselori,
Universiti Sains Malaysia, 11800 USM, Pulau Pinang, Malaysia
Tel: +604-653 6281
Fax: +604-653 6329
Email: yayasan@usm.my/ fadzilla@usm.my