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ENDOWMENT FUND CREATION & DOCUMENTATION Presented by Donor Services – University Advancement.

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Presentation on theme: "ENDOWMENT FUND CREATION & DOCUMENTATION Presented by Donor Services – University Advancement."— Presentation transcript:

1 ENDOWMENT FUND CREATION & DOCUMENTATION Presented by Donor Services – University Advancement

2 AGENDA Principles behind good agreements Core elements of gift agreements A walk through an endowment agreement Fund type specific considerations Post agreement process (A&S specific) Endowment resources


4 PRINCIPLES BEHIND GOOD AGREEMENTS GOOD AGREEMENTS_______ Are as unrestricted as possible Meet donor expectations and desires Are realistic about department needs and abilities to meet expectations (…especially long-term) Comply with the law and University policies Written for the long-term (…in perpetuity) Provide alternatives if purpose becomes impractical or impossible over time (…fallback/amendment language) Capture donor motivation Relies on template language

5 ADVANTAGES OF AGREEMENT TEMPLATE LANGUAGE Boilerplate Time tested Pre-reviewed by Attorney General Endowments with certain preference language require prior authorization and more extensive review


7 Purpose Funding Acceptable and authorized uses Administration Spending authority Donor requirements (reporting, etc…) Amendment authority Authorized signature(s)



10 Scholarship/Student support Tuition and related fees; room & board Student support funds should be more broad-based (since distributions are less) – conference attendance, tuition, research costs, poster presentations, etc… Graduate Fellowship Same as scholarship/student support allowance, but may also pay stipends (T.A.- and R.A.-ships)

11 FUND TYPE SPECIFIC CONSIDERATIONS Faculty Support Faculty fellowship (holder appointment required, as approved by the Provost’s Office) Professorship or Chair (holder appointment required, as approved by the Board of Regents via the Provost’s Office) General faculty support (starting at $50,000) Research Support May support specific research areas – research may be conducted by faculty and/or students, depending on donor wishes. University owns all research results (otherwise gift is not a gift)

12 FUND TYPE SPECIFIC CONSIDERATIONS Amendment Donor or department/University initiated ‾As amendments are difficult to execute after a donor’s passing, it’s important to think about a broad use/purpose for the fund at the outset UPMIFA Specialized restrictions requiring Attorney General consultation I-200 (race, ethnicity, national origin, gender) – alternatively, work for language that is in the spirit of what the donor intends, but that is technically I-200 compliant 14 th Amendment (Equal Protection Clause) – related to adding restrictions around U.S. citizens/non-U.S. citizens

13 FUND TYPE SPECIFIC CONSIDERATIONS Donor funded (true endowment) Outright gifts (cash, securities, real estate) Pledges (pledges may not exceed five calendar years without prior, executive-level authorization) Department funded (quasi endowment) Unrestricted gifts redirected by department to establish endowment Gifts originally given for current-use (e.g. memorial gifts) redirected to the establishment of an endowment with the same purpose as the current-use fund


15 POST-AGREEMENT PROCESS (A&S) CAS Divisions & Depts Treasury (Investment Data) ADVANCE Donor info Gift/Pledge Info Online giving Central Donor Services A&S Stewardship Tracking Our Donors CAS Agreements


17 ENDOWMENT RESOURCES & INFORMATION ACCESS Keeps original agreements and other pertinent documentation Always share additional documentation with the Treasury Office and Donor Services Treasury Office Access requires permission Most endowment agreements are accessible online: Contact Advancement HelpDesk for access ( If you can’t find an agreement here, contact the Treasury Office or Donor Services for a copy ReportWriter.Net Advancement Intranet: Endowment Toolkit: toolkits/endowments/ toolkits/endowments/ Online Resources

18 MORE RESOURCES Website:  CEF Annual Report  Investment and Spending Policies  Quarterly performance reports  Security Gifts Treasury Office Available:  February, May, July, November Format:  Electronic (.pdf & Excel) Distributed to:  Various administrators and advancement officers by request Quarterly CEF Activity Reports

19 KEY CONTACTS & LINKS Treasury Office Yelena Isakova, Manager – Endowment Admin. 685-3814 Alana Askew, Assistant Treasurer 616-3673 Lisa Edlin, Associate Treasurer 685-8030 Ann Sarna, Associate Treasurer 616-1145 Ping Tan, Manager - Investment Accounting 543-3530 Office of Gift Planning Elizabeth Garner (Hikida), Administrator - Estate Gift Acceptance 685-9082 Advancement Services Donor Services Holly Tobosa, Assistant Director 543-7103 Emily Fondaw, Project Manager 221-7622 Lynn Sullivan, Associate Director 685-9911 Mark Lanum, Director 543-7916 Gift Processing Nanci Modolo, Director 685-9081


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