Md. Code Regs. 24.05.22.05

Current through Register Vol. 51, No. 24, December 2, 2024

Section 24.05.22.05 - Research Endowment Plan - Requirements

A. The research endowment plan shall provide the Authority with an explanation of the nonprofit institution of higher education's comprehensive research objectives and plans to build competitive research infrastructure in the specified scientific and technical fields of study as designated by the Authority, as well as comprehensive measures for achieving this goal.

B. The proposed research endowment plan shall include the following:

(1) A description of the nonprofit institution of higher education's current research initiatives in the fields of study designated by the Authority for which the nonprofit institution of higher education will be seeking matching funds under the Program;

(2) The designated field(s) of study covered by the research endowment plan;

(3) The total amount of Program funds for which the nonprofit institution of higher education is requesting approval under the research endowment plan;

(4) The proposed use of the matching funds to be requested by the nonprofit institution of higher education with respect to the research endowment plan, including:

(a) An explanation of how the proposed uses of the endowment proceeds satisfies the criteria for eligible uses of endowment proceeds under Economic Development Article, § 6-614, Annotated Code of Maryland;

(b) The anticipated costs associated with the proposed uses of the endowment proceeds;

(c) An explanation of how the proposed uses of the endowment proceeds further the purposes of the Program and address the research needs of the nonprofit institution of higher education; and

(d) The identification of any specific disciplinary hires to be made with the endowment proceeds, if known to the nonprofit institution of higher education at the time of the submission of the research endowment plan;

(5) A designation of the applicable research endowment(s) into which Program funds are to be deposited;

(6) A description of how the research endowment plan will play a role in achieving institutional research objectives in the designated field(s) of study and its relation to and impact on the colleges, schools, departments, centers, institutes, or other academic units proposed, currently under development, or currently operating;

(7) A description of the current or proposed collaborations, particularly with other institutional partners, that play or will play a significant collaborative role in achieving institutional objectives;

(8) An analysis of possible strategies to enhance current research initiatives;

(9) An evaluation of how the research endowment plan furthers the purposes of the Program's goals and the research needs of the nonprofit institution of higher education;

(10) Documentation of the demonstrations of interest to make qualified donations in a form satisfactory to the Authority;

(11) An explanation of the entrepreneurial and economic development aspects of the research endowment plan; and

(12) Such other information as requested by the Authority from time to time.

C. The Authority shall conduct a thorough review of the research endowment plan for compliance with the provisions of the Act and this chapter. The Authority may request additional information from a nonprofit institution of higher education as it deems necessary and appropriate for consideration of the research endowment plan and the implementation of the Program.

D. In evaluating whether to allocate matching funds to a nonprofit institution of higher education for a research endowment plan, the Authority may consider:

(1) The compliance by the nonprofit institution of higher education with other research endowment plans approved by the Authority for the nonprofit institution of higher education;

(2) Such other evaluation criteria as the Authority shall establish from time to time;

(3) Any lack of compliance with reporting requirements when evaluating new applications, including the proper formatting of reports; and

(4) Failure to obtain prior consent for an amendment of the research endowment plan.

E. At least 90 days prior to the first submission date, the Authority shall publish the evaluation criteria to be considered by the Authority in its evaluation of research endowment plans for the upcoming fiscal year. The Authority may change the evaluation criteria applicable to subsequent applications by publishing revised evaluation criteria at least 90 days prior to the applicable submission date. Evaluation criteria published by the Authority shall remain in effect until the Authority publishes revised evaluation criteria.

F. The approved research endowment plan shall serve as the document for guiding future endowment activities, research investments and reports for the designated research endowment. If a nonprofit institution of higher education desires to amend an approved research endowment plan, it shall submit a written request for such approval to the Authority at least 45 days prior to the desired effectiveness of the amendment. A request to amend a research endowment plan shall include a description of the proposed amendment to the approved research endowment plan, including any changes to the responses to §B of this regulation and any other responses included in the research endowment plan previously provided to the Authority.

G. Failure to obtain prior consent of the Authority for an amendment of the research endowment plan may result in a return and reallocation of matching funds.

Md. Code Regs. 24.05.22.05

Regulation .05 adopted effective 42:12 Md. R. 763, eff.6/22/2015; amended effective 51:17 Md. R. 778, eff. 9/2/2024.