05.06 Board Policy 05.06 Investment Policy Statement for Endowment and Certain Long-Term Institutional Funds 1. Endowment funds are funds given to Texas Tech with a donor-imposed restriction that the corpus is not to be expended, but is to be invested for the purpose of producing income.
Endowment funds are a subset of institutional funds.
Institutional funds include all funds held by Texas Tech for which Texas Tech has the sole right to determine their use. Specifically, this means any funds that are not controlled by the state, such as state appropriated or other Educational and General funds. Long-term institutional funds are defined as all nonendowment institutional funds approved by the Board for investment under the terms of this Board policy statement. The Board of Regents of Texas Tech has a fiduciary responsibility to comply with the restrictions imposed by the donors of endowment funds. Investment Philosophy - Management Procedures.