Establishing an Endowment
Acceptance and receipt of endowment funds is determined by the Advancement policy on Gift Acceptance.
A minimum of $35,000 is required to establish a permanent endowed fund. Donated funds can be accumulated in a campus program or scholarship account until it reaches the $35,000 minimum. When the minimum is met then a new endowment account can be established and a transfer request can be sent to the Foundation to transfer the funds to the endowment pool.
A named endowment requires a gift agreement that is prepared and submitted prior to establishing an endowment fund. If the endowment is established with multiple donations an endowment summary is created and signed by the college/program requesting the establishment of the endowment.
All requests to establish an endowment account will be done through a Foundation New Account Form, submitted to Advancement Services along with a gift agreement or endowment summary for approval.
Appropriate records related to the endowment funds and accounts shall be maintained by the Foundation.
