Our gifts were solicited as unrestricted gifts and matched dollar-for-dollar by the foundation. A board member recommends that we split the funds raised ($100,000) between the general operating fund and the endowment, which is managed by the community foundation. Is it ethical/legal to take funds solicited as unrestricted and without a donor’s explicit direction, deposit them (or percentage of) into an endowment?
Miriam McCoy of San Marcos has donated $1 million to Texas State University to establish an endowed chair in the McCoy College of Business. The McCoy College of Business Foundation will match the donation, creating a total endowment of $2 million to enhance the research capabilities of the college. At McCoy’s request, the endowed chair will be named in honor of Eugene E. Payne,… Read more »
The Total University Endowment at Texas State University has surpassed $200 million President Denise M. Trauth announced during the annual Convocation on August 24. The milestone was achieved in May of this year, spurred by a series of gifts to the university. “Endowment funds help us attract and retain the best and brightest students and faculty, expand our academic programs and pursue research activities,”… Read more »