To endow income is to take excess unrestricted fund income (surplus from the current year or prior year carryforward) and transfer that amount to an endowment fund. This means that the funds will be reinvested in the endowment fund for perpetuity and cannot be spent. The capitalized amount will purchase Pooled Endowment Fund units and investment income will be earned on these units each year.
A Request to Transfer Funds to Endowment Capital must be completed and forwarded to Financial Services for review and approval. AVP Finance & Provost approval is required for any transfers to endowment capital that are not recapitalizations of excess endowment fund income.
These requests may be submitted at any time during the year, but please allow time for processing.