Endowments. Endowment administration in accordance with endowment policy
Endowments. The Corporation shall manage the Xxxx Xxxxxxx Xxxxx Endowment and the Xxxxx X. Xxxxx Endowment for the Xxxxx House Museum and administer the same for purposes consistent with all applicable laws, the testamentary intent, respective bequests and the Articles of Friends of the Museums of Florida History, Inc., including the interpretation, educational programming, maintenance and upkeep of the Xxxxx House Museum. The Corporation shall manage the State of Florida Cultural Endowment Fund and administer the same for purposes consistent with the agreement between the Division of Historical Resources and the Friends of the Museums of Florida History, Inc., including day-to-day expenses related to museum programming. An endowment committee established in by-laws will oversee management and use of the three endowments. • FOOD SERVICE TO MUSEUM OF FLORIDA HISTORY. The Corporation is authorized to utilize Room G22 of the X.X. Xxxx Building to provide food service to the visitors of the Museum of Florida History. All monies generated from this activity shall be deposited into the Corporation’s account and used only for programs of the Museum of Florida History.
Endowments. Endowments are policies in which the cash value built up inside the policy, equals the death benefit (face amount) at a certain age. The age this commences is known as the endowment age. Endowments are considerably more expensive (in terms of annual premiums) than either whole life or universal life because the premium paying period is shortened and the endowment date is earlier. In the United States, the Technical Corrections Act of 1988 tightened the rules on tax shelters (creating modified endowments). These follow tax rules as annuities and IRAs do. Endowment Insurance is paid out whether the assured lives or dies, after a specific period (e.g. 15 years) or a specific age (e.g. 65).
Endowments. Bequests or gifts intended to be kept permanently and invested to create income. All endowments shall be established with each donor by a Memorandum of Agreement or trust agreement. This ensures that the donor’s intent is fully understood by the Foundation and Institution.
Endowments. The Corporation shall manage the Xxxx Xxxxxxx Xxxxx Endowment, the Xxxxx X. Xxxxx Endowment, and the State of Florida Cultural Endowment Fund for the Xxxxx House Museum and administer the same for purposes consistent with all applicable laws, the testamentary intent, respective bequests and the Articles of Friends of the Museums of Florida History, Inc., including the interpretation, educational programming, maintenance and upkeep of the Xxxxx House Museum. An endowment committee established in by-laws will oversee management and use of the three endowments. • FOOD SERVICE TO MUSEUM OF FLORIDA HISTORY. The Corporation is authorized to utilize Room G22 of the X.X. Xxxx Building to provide food service to the visitors of the Museum of Florida History. All monies generated from this activity shall be deposited into the Corporation’s account and used only for programs of the Museum of Florida History.
Endowments. Some divisions have modest endowments. The Operating Agreem ent encour ages divisions to establish and build endowments.
Endowments. Endowments shall be invested with respect to prevailing principles of sound financial management and legal obligations. Earnings are credited according to the amount of principal endowed and any previously unspent earnings on the individual endowment. A portion of the earnings of these accounts becomes available to support the respective endowments in accordance with the directions specified by the donor of the endowment. The Foundation’s or Affiliate’s spending rate policy shall set forth guidelines for determining how much of the earnings of the endowments may be spent.
Endowments. Fundraising events
Endowments. As further consideration for Duke's consent to the cancellation of the Option and Existing Warrant, Summit shall deliver to Duke on the Closing Date the total amount of Two Million Dollars ($2,000,000), which shall be used by Duke to endow a Chair and a Fellowship at Duke University in accordance with the terms contained in the forms attached hereto as Exhibit K.
Endowments s/ Patrick F. Quan ------------------------------------- Name: Patrick F. Quan ------------------------------- Title: Vice President and Secretary ------------------------------- Date: November 21, 2002 -----------------------------------
