For the ninth year in a row, UM has been awarded a top score for sound fiscal management.
Coral Gables (October 07, 2009) —
For the ninth year in a row, the University of Miami has been awarded a top score for sound fiscal management from one of the nation’s leading independent charity evaluators. UM has received Charity Navigator’s coveted 4-star rating for its “ability to efficiently manage and grow its finances,” a designation that comes at a time when both the recession has delivered a blow to thousands of charities across the nation and donors are demanding more transparency and quantifiable results from the organizations they choose to support.
“The University of Miami continuously strives for excellence in all aspects of our work, and we are pleased with this recognition,” said Sergio M. Gonzalez, UM’s senior vice president of University Advancement and External Affairs. “We are very grateful to our supporters, and we owe them efficiency and accountability in everything we do.”
Ken Berger, president and CEO of Charity Navigator, said UM’s ninth consecutive 4-star rating “differentiates the University from its peers and demonstrates to the public it is worthy of their trust.”
He noted that less than 1 percent of the charities rated by his organization have received at least nine consecutive 4-star evaluations, which indicates that UM “consistently executes its mission in a fiscally responsible way and outperforms most other charities in America.”
Forbes, BusinessWeek, and Kiplinger’s Financial Magazine are among the national publications that have profiled Charity Navigator’s method of applying data-driven analysis to the charitable sector.
The Mahwah, New Jersey-based organization uses a set of financial ratios and performance categories to evaluate two broad areas of financial health: organizational efficiency and organizational capacity. It then combines these findings to give an overall rating. Charity Navigator independently analyzed UM’s financial performance in seven key areas (program expenses, administrative expenses, fundraising expenses, fundraising efficiency, primary revenue growth, program expenses growth, and working capital ratio) to give the University an overall rating of 69.42 on a scale of 0-70.
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