FRS Account Number Range 6-11101 - 6-11125
PeopleSoft Fund & Source Range:
Departments should coordinate inquiries from prospective donors of endowment gifts with the Director of Advancement. Endowment principal funds are funds provided to the agency, normally in the form of a trust or gift, for investment to generate income. The income may be unrestricted or restricted for a particular purpose.
The request for an endowment fund should include the following:
Original or copy of the gift agreement, bequest, or other gift document;
Description of the source of funds;
Purpose of the fund, for example - how the income earned is to be used (in support of what activity or function;
Any restrictions on the types of allowable expenditures;
Name of person authorized to spend endowmen income; and
Name of fund.
Expenditures are not allowable against these endowment principal funds, unless such funds have been deemed to be quasi-endowment funds. All endowment related expenditures must be made from endowment income funds.