Assertion: endowment's fund | /r/CapableOf | function as endowment
Facets:
Source sentences:
text: The importance of drawing a distinction between a true endowment and a fund functioning as an endowment is that while the board can remove funds functioning as endowments and spend them at any time, true endowment funds, permanently restricted by the donor, can never be spent.
text: A quasi-endowment, also known as "funds functioning as endowment" or "designated endowment," is an invested fund that is treated as an endowment for investment purposes, but is not legally restricted as such.
text: Since these “endowment” funds were not, however, received as gifts from donors, everyone recognizes that they are not true endowments and therefore refer to these funds either as “quasi-endowments” or “funds functioning as endowments”.
text: The importance of drawing a distinction between a true endowment and a fund functioning as an endowment is that while the board can remove funds functioning as endowments and spend them at any time, true endowment funds, permanently restricted by the donor, can never be spent.
text: Funds functioning as endowments (often referred to as quasi-endowments) are used to report resources that the University, rather than the donor, has determined are to be retained and managed like an endowment.
text: The university’s endowment funds consist of both true endowments and quasi-endowments, also known as “funds functioning as endowments.