Endowments. Endowment administration in accordance with endowment policy • Calculation of annual endowment distributions • Tracking of underwater endowments • Calculation and allocation of quarterly investment earnings • Participation in policy review Charitable Remainder Trusts • Investment accounting and tracking • Annual tax return preparation • Issuance of payments as required by individual trust agreements • Annual CRT report preparation Gift Annuities • Investment accounting and tracking • Annual issuance of 1099 for annuitants • Issuance of payments as required by individual gift annuity agreements • Annual filing with the CA Department of Insurance Reporting • Reporting to the UF Board of Governors as requested • Provide quarterly financial reporting
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. 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. 1.8.5 Fundraising events
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. 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. Some divisions have modest endowments. The Operating Agreem ent encour ages divisions to establish and build endowments. It allows divisions to transfer funds from existing balances once they have established a minimum fund balance. The income from such endowments is controlled by the divisional board and is not subject to any overhead costs.
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. 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. BY:/s/ Patrick F. Quan ------------------------------------- Name: Patrick F. Quan ------------------------------- Title: Vice President and Secretary ------------------------------- Date: November 21, 2002 ----------------------------------- AMERICAN FUNDS SERVICE COMPANY BY:/s/ Angela M. Mitchell -------------------------------------
