Term Endowments. Term Endowment Funds are established when the donor requires all or a specified portion of the principal of the gift to be preserved for a specified period of years or until some event occurs. Principal, income and appreciation (with “appreciation” for these purposes defined as realized appreciation, and for readily marketable securities, unrealized appreciation) may be appropriated for expenditure consistent with the donor’s restrictions as the Board determines is prudent. .
Appears in 5 contracts
Samples: Service Agreement, Service Agreement, Service Agreement
