Quasi. endowments – The term “quasi-endowments” is used by the Foundation to describe gifts that the Foundation and the donor have agreed will be managed as though they were endowments until such time as the Foundation determines it is appropriate to expend the principal consistent with donor-specified purposes, if any. The term “quasi-endowments” is also used to describe funds established by the Foundation for specific purposes that are to be treated as though they were endowments (principal preserved) until the Foundation Board of Directors no longer wishes to do so.
Appears in 5 contracts
Samples: Service Agreement, Service Agreement, Service Agreement
