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Endowment Fund Agreements

An agreement with a donor to establish a permanent, self-sustaining fund at the University with donor funds that will be invested in perpetuity. Each year, a portion of the value of the fund is then paid out to support the fund's purpose, and any earnings in excess of this distribution are used to build the fund's market value. An endowment fund agreement specifies the purpose of the fund and terms by which the University will invest, spend, and maintain those funds. The fund agreement clarifies that the endowment will be operated in accordance with University Investment and Spending Policies (in the absence of any unusual negotiated exceptions to general investment and spending policies (e.g., in the case of donor-advised fund), and specifies the purpose for which the amount allocated for spending each year will be used.

This is a sub-set of the full Signature Authority Policy. Please be sure to review the  Signature Authority Policy before proceeding.

Also refer to Business Policies & Procedures


Final Signature Authority:

  • ≤ $1,000,000 Vice President for Development
  • > $1,000,000 President

Additional Information and Requirements:

  • Follow Development gift acceptance policies;
  • Legal counsel review at the discretion of the Vice President;
  • Copy Controller's Office on endowment fund agreements >$25,000;
  • Chief Investment Officer advises endowment set up and management.

Resources:

University Development

Treasury Management

Gift Acceptance Policy

Last Updated: January 1, 2011


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