ENDOWED FUNDS Sample Clauses
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ENDOWED FUNDS. Endowed funds are also referred to as “permanent” funds. Distributions from endowed funds are limited to our current spending rate and subject to our spending policy. Historically, this has been between 4-5%. View our current spending policy at: ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇▇/▇▇▇▇▇▇▇▇▇-▇▇▇▇▇▇▇▇▇▇▇.
ENDOWED FUNDS. The parties recognize that endowed funds are administrated via the terms of the gift agreement and shall not be considered part of the negotiated compensation package. The parties further agree that the use of endowed funds is not subject to collective bargaining.