who designate how their money is spent. Funding comes from research grants and contracts, endowment payout ($305 million), and private gifts ($157 million). It pays for scholarships and fellowships; salaries, benefits and research support for some faculty; and research, programs and academic centers.
Designated Funds, which account for 2.2% of the operating budget, come from fees charged for and spent on experiential learning, programs, conferences, performance venues, and executive and continuing education.
==== Endowment ====
The university's financial endowment, known as the "University Endowment Fund", comprises over 12,400 individual funds. Each fund must be spent according to the donor's specifications. Approximately 28% of the total endowment is allocated to support academic programs, while 22% is designated for student scholarships and fellowships. Approximately 19% of the endowment was allocated to Michigan Medicine and can only be used to support research, patient care, or other purposes specified …
