ATTACHMENT I
Sample
Language for an Endowment Donation
MOU: Full, Outright Gift
MOU: Title
I/We, donor name(s) , hereby
give amount or description to
Texas State University-San Marcos.
Said funds
shall be used to create the endowment
name as a permanent endowment for benefit of the college/school . Funds distributed from the endowment shall be
used to statement of use .
In accordance with the policies and
procedures of the University, these endowment funds may be merged or comingled
with other funds held by the University for investment purposes. Funds
approved for distribution from the endowment in a year may be expended for the
purposes of the endowment in that year. A portion of the funds not
distributed may be designated, at the discretion of the University President
and Vice President for Finance and Support Services, as a permanent addition to
the principal of the endowment.
The endowment shall not become part
of the General Fund of the State of Texas and shall not be subject to
appropriation by the Legislature of the State of Texas. All future
additions to the endowment, made by any party, shall be subject to the
provisions of the Memorandum of Understanding and shall be considered permanent
endowment funds. If in the mutual opinion of the University President and
the Vice President for Finance and Support Services, future circumstances
change so that the purposes for which the endowment is established become
illegal, impracticable, or no longer able to be carried out, an alternative
use, that is mutually agreed upon by the University administration and the
University President, for the endowment payout may be designated to further the
objective of the University in the spirit of my/our original purpose.
Annually, a prudent inflationary
rate may be applied to the earnings of the endowment for the year. The
resulting amounts may be designated as permanently restricted income and added
to the principal of the endowment. For the purposes of the preceding language,
earnings may be defined in a policy statement and may include interest,
dividends, rents, issues, net annual realized profits, and net annual
unrealized profits.
Donor Signature Date William A. Nance Date
Donor Name Vice President for Finance and Support Services
Address Texas State University-San Marcos
City, State, Zip Code
Donor Signature Date
Donor Name
Address
City, State, Zip Code
As with any decision involving your assets, we urge you to seek the advice of your professional counsel when considering a gift to Texas State University-San Marcos.