News

12.16.2011

UM Ranked Most Fiscally Responsible Nonprofit in the Country

The University of Miami has been ranked No. 1 by Worth Magazine as the most fiscally responsible nonprofit organization in the country.

“We’re delighted that the University of Miami has again received major recognition for its outstanding philanthropic stewardship,” said UM President Donna E. Shalala.

Worth partnered with nonprofit watchdog Charity Navigator to recognize UM for its demonstrated financial health and efficiency of philanthropic stewardship. The rankings consider who makes the most of donors’ dollars as well as organizational accountability and transparency. Worth magazine addresses the relevant financial, legal, and lifestyle issues unique to high net worth individuals.

In detailing why UM ranked No. 1, the magazine said the University has “impressive medical facilities.” Besides noting the Miller School of Medicine is one of the top 50 in the nation, Worth also wrote that “UM has also invested heavily in researching cures for diabetes, Alzheimer’s, autism and cancer. With its development of the Life Science & Technology Park, UM hopes to make South Florida a biotech hub.”

“We are extremely pleased that the Miller School has helped the University achieve this ranking,” said Pascal J. Goldschmidt, M.D., Senior Vice President for Medical Affairs and Dean of the Miller School.

In September UM received Charity Navigator’s four-star rating for sound fiscal management and commitment to accountability and transparency for the 11th consecutive year. The rating indicates that UM “adheres to good governance and other best practices that minimize the chance of unethical activities and consistently executes its mission in a fiscally responsible way,” Ken Berger, president and CEO of Charity Navigator, wrote in a congratulatory letter addressed to UM President Donna E. Shalala.

UM has had a breakthrough year with the recent rise to the No. 38 spot in the 2012 edition of U.S. News & World Report’s annual “Best Colleges” issue – a climb of 29 points in the last 10 years. This ascent into the top tier of American Universities was realized in 2007 as the University closed its record breaking Momentum campaign which raised more than $1.4 billion for endowed chairs and professorships, scholarships, facilities, academic and medical programs, and other initiatives.

“This designation represents the sentiments put forth by our donors when we speak to them about how they can help further our mission,” said UM Senior Vice President of University Advancement and External Affairs Sergio M. Gonzalez. “As we prepare to launch another campaign in the next few months, we look forward to this ongoing engagement with our donors, and we will continue to adhere to the accountability that they have come to expect from us.”

Worth offers a blend of financial and investing strategies and insight. It provides information on financial strategies and investment opportunities for the super-affluent individual investor with a market defined as those with annual incomes exceeding $500,000. Read the entire article.

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