- A signed Memorandum of Understanding (MOU) exists to document donor intent.
- Fund directors receive bi-annual reports on endowed funds.
- Annual distributions are expended and do not build up excessive unspent balances.
- Investment earnings in excess of 1 year’s accrual will be reinvested into the corpus unless accrual approved by fund director, provost and foundation executive director.
- Expenditures do not exceed endowment funds available.
- Utilization of annual distributions are consistent with MOU specifications.
- Annual report is sent to the primary contact(s) for each endowment.