How Endowments are established and work?

• A donor may establish an endowed fund, scholarship or program support, with a gift of $10,000 or more. (The donor can give a one-time gift of $10,000 or pledge $2,000 a year for 5 years).
• The donor establishes the criteria for how the funds are utilized.  This is what we are amending.
• Once the $10,000 (referred to as the Corpus), or any portion thereof, is given it is invested with the UNA   Foundation Endowment Portfolio. The endowment will earn interest, dividends and market gains/losses for one year.
• The endowment distributions (the money that can be spent for the purpose the donor intends) comes from the market value of the endowment – 3 – 5% per the UNA Foundation Spending Policy.
• The Corpus is never spent and thus, the endowed fund exists in perpetuity
• Scholarship recipients will be selected by the Office of Student Financial Aid.