Account Attributes
Endowment Fund Classification
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
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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