How to Establish an Endowment
Your Gift to the University of North Texas Foundation ...
Will be used to create a permanent endowment fund ...
- An independent fund that will exist in perpetuity
- Which will always support the programs you designate
- That supports the mission of the University of North Texas
Will be professionally managed ...
- By the full-time professional staff of the Foundation
- In compliance with generally accepted accounting principles, Financial Accounting Standards Board guidelines, and appropriate United States and State of Texas Laws and regulatory policies
- In accord with written Foundation policies and procedures adopted by the Board of Directors of the Foundation
Will receive oversight from the Board of Directors of the Foundation ...
- Through the ongoing process of review and policy implementation
- By the elected body that meets quarterly, and through its active committee structure
Will have a Memorandum of Understanding ...
- The guiding document developed with your goals and desires in mind, and signed by you, the President of the University, and the Chair of the Board of the Foundation
- That specifies all of your program intentions and directions
- That commits the University and the Foundation to manage and utilize the fund in the manner described in perpetuity
- That may not be changed without the written permission of you and the other institutional representatives
Will be added to a pool of funds invested in a balanced portfolio ...
- Consisting of a broad array of actively and passively managed securities
- Under the supervision of the experienced members of the Foundation Board Investment Committee
- With a long-term goal of returning a stable flow of income annually
Will have an account holder ...
- The University faculty or staff person responsible for applying annual distributions from your fund to the programs you have selected for support
- Who receives the annual financial statement of account, and requests funds from the Foundation based on this report
- That maintains all of the program information about your fund (scholarship recipients, faculty support, research assistance, or other projects)
Will have annual distributions ...
- Quarterly, subject to the availability of income and reserves for this fund
- That are made available to the UNT Account Holder for the programs you have designated
- That are calculated on a percentage of the total market value of the fund over the trailing twelve-quarter time period
- That are based on an endowment management model developed and approved by the American Institute of Certified Public Accountants
Will be accounted for independently from any other Foundation account ...
- Utilizing the Foundation's state-of-the-art fund-accounting and database management systems
- With separate identification of all transactions for your account segregated from those of any other account
- Which is audited annually by an external CPA firm that reports directly to the Board of Directors of the Foundation
And, most importantly, will be appreciated by the students, faculty, and staff of the University of North Texas!