Generally, only the spendable income produced – as defined by the University’s endowment spending policy – from the invested principal of the endowment may be spent for the intended purpose. Endowment earnings realized beyond those necessary to fund the annual spending rate and costs of portfolio management are added to the principal of the endowed fund.
Endowed funds may be named in honor or in memory of a donor or a designated person or entity. All such gifts, if accepted, will be placed in a named endowed fund and will be restricted to the purpose and intent of the donor, if a designation has been made.
Responsibility for management of the endowment funds is delegated to the Vice President for Finance and Administration and the Vice President for Institutional Advancement with oversight responsibilities conducted by the Committee for Institutional Advancement of the Board of Regents.
The University will accept gifts of other funds, or collections of such gifts, that can be restricted or designated by the donor. These funds typically will be held in current restricted accounts until expended. A signed gift agreement is required to establish a current use restricted fund.
To support ongoing operations and long-term goals, the University may undertake special and comprehensive campaigns with the approval of the Board of Regents. Campaigns will be governed by this policy in addition to any specific policies approved by the Board of Regents and implemented for the purpose of the campaign. Any applicable campaign policies informed by this Gift Acceptance Policy will be reviewed and adopted prior to the launch of any new campaign.
Campaign Crediting Policies are designed to provide a reasonable foundation for crediting decisions throughout the campaign while allowing for some flexibility in those cases which the University could not predict in advance.
Campaign crediting decisions that become necessary and are not addressed within this policy will be made by the Gift Acceptance Committee and, if necessary, a Campaign Steering Committee.
Policy Guiding Principles