Endowment Funds Sample Clauses

Endowment Funds. The Clinic has a donor-restricted endowment fund for operations which is maintained in accordance with explicit donor stipulations. The Board of Directors of the Clinic has interpreted the Texas Uniform Prudent Management of Institutional Funds Act (TUPMIFA) as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the Clinic classifies as permanently restricted net assets (a) the original value of gifts donated to the permanent endowment, and (b) the original value of subsequent gifts to the permanent endowment. The remaining portion of the donor- restricted endowment fund that is not classified in permanently restricted net assets is classified as temporarily restricted net assets until those amounts are appropriated for expenditure by the Clinic in a manner consistent with the standard of prudence prescribed by TUPMIFA. In accordance with TUPMIFA, the Clinic considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: • The duration and preservation of the fund • The purpose of the Clinic and the donor-restricted endowment fund • General economic conditions • The possible effect of inflation and deflation • The expected total return from income and the appreciation of investments • Other resources of the Clinic • The investment policies of the Clinic Endowment funds are maintained in an investment account which is managed by an independent financial firm that follows guidance provided in an investment policy approved by the Board of Directors. The Clinic has adopted investment policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. The endowment funds have not been spent since inception; no spending policy is currently in place. The Clinic is working on implementing a spending policy in 2020. From time to time, the fair value of assets associated with individual donor-restricted endowment funds may fall below the level that the donor or TUPMIFA requires the Clinic to retain as a fund of perpetual duration. Endowment net assets consist of the following at December 31: 2019 2018 Original donor restricted gift amount required to be maintained in perpetuity by donor $ 76,491 $ 68,867 SAN XXXX CLINIC NOTE...
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Endowment Funds. The cumulative balance of Federal awards for endowment funds which are federally restricted are considered awards expended in each year in which the funds are still restricted.
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Endowment Funds. The Ohev Tzedek Endowment Funds shall be incorporated into the Endowment funds held by Congregation Xxxxx Xxxxxx, both of which shall become the endowment of the combined entity.
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Endowment Funds. The Foundation, maintaining exclusive legal control of all contributed assets, has adopted a total return approach to investment management under the Uniform Management of Institutional Funds Law for Permanent Endowment Funds. This allows the Foundation to capture more of the historically higher appreciation in the equity markets. "Total return" is a term used to describe the total change in fund value over a given time period that results from both income (interest and dividends) and capital appreciation (realized and unrealized gains). Under this approach, a fund's income for grant making and/or distributions will be calculated by using a "spending rule" – a fixed annual rate established by the Foundation's Board of Trustees and defined as a percentage of the market value of the assets in the fund. For example, a spending rule for a given year might be 5% of the four-year average of a component fund's asset value. The amount available for grant making determined by this spending rule can include interest and dividend income, as well as realized and unrealized gains. Currently the spending rule is 4.5% of the average market value over the past 20 quarters. No distributions are allowed for one year from the time the endowment fund is established. Grants from Field of Interest Permanent Endowment Funds will be made at the June Trustees’ meeting. It is important to note that depending on market conditions, in some years the spending rule may require the distribution of a portion of the principal balance in a fund.
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Endowment Funds. 6.4.1 Donations to establish or contribute to Endowment Funds at the Foundation are held as capital and invested according to the powers set out in its investment policy as reviewed by the Board from time to time. The capital sum is invested to maintain and, if possible, enhance the value whilst generating income for grant-making. Funds are pooled and allocated units within the overall portfolio and credited with their income. It is the Foundation’s policy not to spend capital unless instructed by the donor under the Donation Agreement.
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Endowment Funds. Endowment Funds will permit the spending of only the amount in accordance with the Foundation’s spending policy, as described further in Section 6. The intention of an Endowment Fund is to spend only the income earned on the Fund, so that no amount of the principal of the initial or subsequent contributions to the Fund will be encroached. As they are invested in various equities, fixed income, mutual funds, and other products, Endowment Funds are subject to market fluctuation. An Endowment Fund may be converted, at any time, to a Restricted Fund. I/We wish to establish the Fund as: ❑ Restricted Fund (Flow-through) ❑ Endowment Fund (Preservation of capital)
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Endowment Funds. Subject to the System Board’s Reserved Powers under Sections 3.4.1 (with respect to HH and MCH) and 3.4.2 (with respect to CMC and the CMCHS Subsidiaries) with respect to proposed expenditures, each System Member will retain ownership
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Endowment Funds. If a grantee uses part of its grant funds to establish or increase an endowment fund, it must comply with the provisions of §§ 628.3, 628.6, 628.10, and 628.41 through 628.47 of this chapter with regard to the use of those funds, except—
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Endowment Funds. The Authority shall manage and apply any monies in the Endowment Funds in accordance with the donor's intent and restrictions(if any);provided,however,to the extent not prohibited thereunder, the Authority agrees to apply all available interest and other revenues generated through the investment of such Endowment Funds (and principal, if permitted thereby)and all other funds received by the Authority from public bodies or others to assist Lessee in the provision of the services described in Section 5.4 hereof ARTICLE 7
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Related to Endowment Funds

  • Investment Funds Unregistered general or limited partnerships or pooled investment vehicles and/or registered investment companies in which the Company (directly, or indirectly through the Master Fund) invests its assets that are advised by an Investment Manager.

  • Settlement Funds The Servicer shall be named as a payee on all insurance loss drafts and upon receipt thereof, the funds shall be credited to the Borrower's Insurance Proceeds balance and deposited into (a) where such funds will be applied to the repair and restoration of the related Mortgaged Property and where required by applicable state law, one or more separate escrow accounts, so that the balance on deposit in such accounts is fully insured at all times by the FDIC through either the BIF or SAIF or (b) where such funds will not be applied to the repair and restoration of the related Mortgaged Property, the respective Custodial P&I Account.

  • Payment Fund “Payment Fund” is defined in Section 2.6(a) of the Agreement.

  • Match Funds The goal of this subtask is to ensure that the Recipient obtains any match funds planned for this Agreement and applies them to the Agreement during the Agreement term. While the costs to obtain and document match funds are not reimbursable under this Agreement, the Recipient may spend match funds for this task. The Recipient may only spend match funds during the Agreement term, either concurrently or prior to the use of Energy Commission funds. Match funds must be identified in writing, and the Recipient must obtain any associated commitments before incurring any costs for which the Recipient will request reimbursement. The Recipient shall: • Prepare a Match Funds Status Letter that documents the match funds committed to this Agreement. If no match funds were part of the proposal that led to the Energy Commission awarding this Agreement and none have been identified at the time this Agreement starts, then state this in the letter. If match funds were a part of the proposal that led to the Energy Commission awarding this Agreement, then provide in the letter: o A list of the match funds that identifies:  The amount of cash match funds, their source(s) (including a contact name, address, and telephone number), and the task(s) to which the match funds will be applied.  The amount of each in-kind contribution, a description of the contribution type (e.g., property, services), the documented market or book value, the source (including a contact name, address, and telephone number), and the task(s) to which the match funds will be applied. If the in-kind contribution is equipment or other tangible or real property, the Recipient must identify its owner and provide a contact name, address, telephone number, and the address where the property is located.  If different from the solicitation application, provide a letter of commitment from an authorized representative of each source of match funding that the funds or contributions have been secured. • At the Kick-off meeting, discuss match funds and the impact on the project if they are significantly reduced or not obtained as committed. If applicable, match funds will be included as a line item in the progress reports and will be a topic at CPR meetings. • Provide a Supplemental Match Funds Notification Letter to the CAM of receipt of additional match funds. • Provide a Match Funds Reduction Notification Letter to the CAM if existing match funds are reduced during the course of the Agreement. Reduction of match funds may trigger a CPR meeting. Products: • Match Funds Status Letter • Supplemental Match Funds Notification Letter (if applicable) • Match Funds Reduction Notification Letter (if applicable)

  • Settlement Fund All payments under this Section IV shall be made into the Settlement Fund, except that, where specified, they shall be made into the Settlement Fund Escrow. The Settlement Fund shall be allocated and used only as specified in Section V.

  • Mutual Funds The Sponsor hereby acknowledges that it has received from the Trustee a copy of the prospectus for each Mutual Fund selected by the Sponsor as a Plan investment option. Trust investments in Mutual Funds shall be subject to the following limitations:

  • General Account All assets of SBL other than those allocated to the Separate Account or any other separate account of SBL. GUARANTEE PERIOD Current Interest, if declared, is fixed for rolling periods of one or more years, referred to as Guarantee Periods. SBL may offer Guarantee Periods of different durations. The Guarantee Period that applies to any Fixed Account Contract Value:

  • Company Funds The funds of the Company shall be deposited in such bank or other financial institution account or accounts, or invested in such interest-bearing or non-interest-bearing investments, as shall be designated by the Board of Managers. All withdrawals from any such accounts shall be made only by the Board of Managers or by individuals duly appointed by the Board of Managers.

  • Trust Funds The Owner hereby gives power to the Agent to deposit all receipts collected for the Owner, less any sums properly deducted or disbursed, in a financial institution whose deposits are insured by an agency of the United States government. The funds shall be held in a trust account separate from the Agent’s personal accounts. The Agent shall not be liable in the event of a bankruptcy or failure of a financial institution. All funds managed under this section must be done so in accordance with applicable law.

  • Income Funds T. Rowe Price Multi-Sector Account Portfolios, Inc. on behalf of:

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