When an expendable gift is made, all the funds provided are spent, sometimes immediately, and sometimes over an extended period of time, depending on the donor’s instructions and/or the needs of the school.
When a donor provides an endowment gift, the funds are invested by the University, and the interest generated is spent for a purpose of the donor’s choosing. Because only a fixed portion of an endowment’s value is spent each year, this type of gift can help to fund a school, a program, a professorship, or a scholarship in perpetuity.
By providing funds on an ongoing basis, an endowment lends permanence and stability to that which it supports. It is a powerful endorsement of the School’s mission, making it possible to plan for the future with a sense of confidence. Benefactors often choose to have the program or facility that they endow named for themselves or another individual they hold in high esteem. The university requires a minimum commitment.
