Endowment Accounts
Endowment Accounts Documentation
- Account Information Form (AIF)
- It is created by a Development Officer.
- It opens an account.
- It documents the purpose and the appropriate signature authority.
- Memorandum of Agreement (MOA)
- An agreement between a donor, an ISU Department, and ISU Foundation.
- It details the donor's intent for the use of the gift funds.
- Required on endowment accounts, but may be used for other types of gifts.
Endowment Account Responsibilities
- Donor's responsibilities
- To ensure the document accurately reflects the intent of the gift.
- ISU Administrator's responsibilities
- To ensure criteria allows for reasonable assurance of adhering to the donor's intent.
- To follow the donor's intent in the use of the funds.
- To spend the funds in a timely manner.
- ISU Foundation's responsibilities
- To match the donor's intent with a reasonable assurance of spending.
- To assist the ISU administrators in interpreting the spending criteria.
- To report the spending of funds back to the donor.