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Establishing New University Endowment and Trust Funds

Bursar and Treasury Services

View Official Policy: Establishing New University Endowment and Trust Funds Policy

The Bursar's Office is responsible for reviewing proposed trusts and preparation of appropriate trust documents in conjunction with prospective donors. As legal trustee of funds held in trust by the University of Georgia, the Board of Regents must approve and acknowledge trusteeship of a proposed trust agreement.

The funding requirements to establish a corpus as a University endowment fund include the following:

1. An initial deposit shall be a minimum of $100.

2. If a fund does not reach $1,000 within a twelve-month period, the funds on deposit shall be:

a. Transferred to an existing fund of the donor's choice most closely serving the intended purpose, or

b. Transferred to an unrestricted general purpose endowment or loan fund.

3. If a fund does not reach $3,000 within a thirty-six month period, the funds on deposit shall be transferred as in (2) above.

4. If a fund does not reach $5,000 within a ten-year period, the funds on deposit shall be transferred as in (2) above.

Please refer to the Board of Regents of the University System of Georgia Business Procedures Manual 19.2 Gifts and Donations for additional information.

Responsibilities

Responsible University Senior Administrator: Vice President for Finance & Administration

Responsible University Administrator: Associate Vice President - Finance Division

Policy Owner: Bursar and Treasury Services Division

Policy Contact: Judy Scott

Phone Number: 706-542-2542

Date Issued:

Last Reviewed/Updated: