University of Macao raises $38 mln through college foundation

  The University of Macao Development Foundation (UMDF) has so far received approximately 300 million patacas (38 million U.S. dollars) from donors within only six months of its establishment, said UM Rector Zhao Wei on Monday.

  UM's goal is to become "a first-class university with unique regional characteristics", and it has launched a series of reforms in teaching, research and governance, and the most important initiative is the establishment of UMDF, said Zhao at a forum on college fundraising, which was held at the UM on Monday.

  The UMDF was established on Dec. 7, 2009, which is part of the UM's effort to emulate the successful fundraising experiences of top colleges of the world.

  What the UM would like to learn in the Forum is how to make use of the fundraising mechanism that was set up last year to help advance the university, said Tse Chi Wai, Chair of the University Council of UM.

  A study, cited by the experts at the forum, of the fundraising performance of some top universities over the past decade reveals that more than 80 percent of the alumni who donated 1 million dollars or above made repeated donations to their alma maters during the first five years of graduation, and donations from the alumni accounted for approximately 40 percent of the total donations received by the universities in question.

  According to Zhao, the UM will, next year, use a small percentage of the funds to recruit top-notch professors from around the world, sponsor undergraduate students for participation in the residential college system piloted on the current campus, reward outstanding teaching and academic performance, and sponsor strategic teaching and research projects.