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Types of Endowment and Trust Funds

    • Last Updated: 04/18/2017
    • Effective Date:

    Policy Statement

    Unrestricted by purpose and department – These funds are given to UGA with no specific purpose in mind except the betterment of the University of Georgia.

    Restricted by department not by purpose – These funds are given to a certain department within the University of Georgia with no specific purpose in mind.        

    Scholarships – The University of Georgia holds in trust various endowment funds for the purpose of providing scholarships to students attending college.

    Loans – The University holds trust for making loans to students.

    Scholarship and Loans – This category can be used for either scholarships or loans.

    Reason for policy

    To honor donor intentions

    Additional contacts

    Judy Scott

    Phone Number: 706-542-2542

    Responsibilities

    Responsible University Senior Administrator: Vice President for Finance & Administration

    Responsible University Administrator: Associate Vice President and Controller

    Policy Owner: Bursar’s Office Division

    Policy Contact: Judy Scott

    Phone Number: 706-542-2542

    Record Retention

    Explanation: This series documents potential or realized private, corporate, or public agency funding to the institution, including endowments and trusts. This series may include but is not limited to award guidelines; letters and agreements of gifts; copies of bequest instruments and wills from individuals or estates; financial statements and reports, including records of fund disbursements; and related documentation and correspondence.

    Record Copy: Institutional Archives; Administering units

    Retention: Permanent for letters and agreements of gift, copies of bequest instruments and wills from individuals or estates, and related documentation and correspondence; 7 years for all other records. BOR 0472-02-018

    Georgia Code: O.C.G.A. 9-3-24