About

Endowments serve as vehicles through which donors can provide permanent funding to university programs of their choice. There are three principal categories of endowments:

• True endowments are funds received from external donors with the restriction that the principal is to be retained in perpetuity and cannot be spent. True endowments are controlled by donor stipulation.
• Term endowments are like true endowments, except that all or part of the principal may be used after a stated period or upon a certain event.
• Quasi-endowments—funds functioning as endowments—are funds the University—rather than a donor or other external agency—has determined to treat as permanent capital. However, there is no legal obligation to do so. Quasi-endowments are submitted to the Board of Trustees for acceptance. The governing document—typically a Statement of Quasi-Endowment—is signed by a University employee and is controlled by both the University and the department.

Contact University Advancement to establish a true or term-endowment.

Contact Nick Griffith with the following information to create a quasi-endowment:

• Title
• Criteria and purpose for which the quasi-endowment will be used
• Fund and Department Number of the source funding
• Funding amount, minimum $50,000
• Name and title of a University employee to sign the Statement of Quasi-Endowment, usually a chair, dean, department head, etc.