Endowment Gift Agreement

It is also understood and agreed that the funds received may be invested by a third party who best determines the investment opportunities of this fund (see point #4 below). The Foundation`s spending policy will be the guideline defined and approved by your organization`s board of directors, which likely only provides for the use of annual savings income and will not enter into the Fund`s capital in order to preserve and maintain growth. If a scholarship of $10,000 or more is fully spent within one year of receipt, no gift contract is required. However, scholarship criteria must be approved by the Office of Advancement Services. Scholarship gifts of less than $10,000 will be paid to an existing general scholarship fund (usually departmental general scholarship accounts), as stipulated in agreement with the donor. . . .