ATTACHMENT IV
Sample
Language for an Endowment Donation
MOU:
Memorial/Honorific Fundraising
Gift to Texas State University-San Marcos
I/We, donor name(s) , hereby
give amount or description, to Texas
State University-San Marcos. I/We
request that my/our gift be combined with others received by the University in memory/honor of name of honoree, for a total of $amount.
Said funds shall be used to create
the endowment name as a
permanent endowment for benefit of the college/school/center. 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.
Commitment to the Board of Regents of the Texas
State University System for the use and benefit of Texas State University-San
Marcos
MOU: Title
I/We, donor name(s) , hereby
acknowledge a gift commitment to the Board of Regents of the Texas State
University System for the use and benefit of Texas State University-San
Marcos. I/We intend to provide a total
of $amount to be conveyed in installments of $installment per year beginning on begin date , 20year or sooner, and continuing through end date , 20year.
I/We request that my/our gift be combined with others received by the
University in memory/honor of name of honoree, for a total of $ amount.
Said
funds shall be used to create the endowment
name
as a permanent endowment for benefit of the college/school/center. 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.