Spendable Fund
Used for things like scholarships, programs, capital projects, lecture series or endowed positions. A spendable fund may be standalone or linked to an endowment. Every endowment has an associated spendable fund.
Endowed Fund
Holds the principal of the endowment and is invested by the Foundation. The principal cannot be spent directly. Investment earnings are transferred twice annually (May and November) to the spendable fund for use. An endowment ensures funding is available in perpetuity.
Spendable Balance
The available amount in the spendable fund. Spending should align with donor intent. Ideally, spendable balances should not exceed 5% of the associated endowment鈥檚 balance to indicate healthy fund usage.
Endowed Balance
The market value of the endowment. Distributions are based on a 36-month average market value, with 4.2% distributed annually in two 2.1% installments. The current transfer amounts were calculated in May 2025 and will be recalculated in May 2028.