| Field Name: |
ENDOWMENT FUND CLASSIFICATION |
Inquiry Screen #: |
04 |
| Common Abbreviation: |
EF |
| Dictionary Reference Number: |
FG762 |
| Field Length: |
2 numeric characters |
| Required Accounts: |
0-60000 thru 0-69899 / 0-9XXXX |
| Definition: |
This attribute indicates the endowment fund classification
for financial reporting purposes. |
| Modification: |
Online |
| Responsibility: |
Manager, Capital Funds |
| Data Verification Procedures: |
CAA022P Year End Comparison Report |
| Values: |
| 61 |
= |
TRUE ENDOWMENT: Donors or other outside agencies have stipulated
as a condition of the gift instrument that the principal is
to be maintained inviolate and in perpetuity. The income may
either be expended or added to principal. |
| 62 |
= |
FUNDS FUNCTIONING as ENDOWMENT: The Board of Trustees of the
University, rather than a donor or other outside agency, has
determined that the principal be retained and invested usually
for a period of 10 years or more. Since these funds are internally
designated rather than externally designated, the Board of Trustees
has the right to decide at any time to expend the principal. |
| 63 |
= |
TERM ENDOWMENT: Term endowment funds are similar to true endowment
funds except that, upon the passage of a stated period of time
or the happening of a particular event, all or a part of the
principal may be expended. |
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