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endowment transfer or liquidation?

  • 1.  endowment transfer or liquidation?

    Posted 16 days ago
    I sit on the board of a private school.  A local university has closed and sent the school a check for the amount remaining in a scholarship endowment that was designated for graduates of our school.  There was no paperwork with the check, just a verbal indication that the money should be used for tuition assistance.  We are wondering if the money all needs to be put into our endowment, or if we can spend a portion outright.  Where can I go to find out this information?  I tried searching our state website for endowment rules but hit a dead end.

    Karen Warr, GPC
    Director of Development Operations
    LifeWorks NW

  • 2.  RE: endowment transfer or liquidation?

    Posted 16 days ago
    My first thought is of the original donors.  In accordance with the Donor Bill of Rights they likely need to be contacted.  And when they are, you may wish to give them options for how best to use their funds.


    John H. Taylor
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987