What is an endowment?
Simply put, an endowment is an investment in the future of the University of North Dakota. Your gift is invested to provide support for a specific purpose you choose and to ensure the principal amount of your gift grows. Your original principal is never spent, only the return on investment (interest) up to a defined percentage. Any remaining interest income is put back into the fund so it continues to grow.
How is an endowment different from annual giving?
Annual giving supports priority needs within the University and the UND Foundation while endowed giving ensures funds are available for long-term growth. Many donors who establish endowments also support annual needs. Both types of giving are critical to UND’s continued success.
How can I fund an endowment?
There are a number of options. Among them are giving cash gifts including securities or establishing it via a will or trust.
Do I need to fund my endowment all at once?
No. You may pledge your gift to establish an endowment for up to five years. Endowments do not pay out to designated purposes until they are fully-funded.
Can I choose what I want my endowment to support?
You may designate any purpose, including unrestricting it to be used for priority needs of the University of North Dakota. Endowments are often created to fund student scholarships, endowed faculty positions or support academic programs.
Can I name my endowment?
We encourage you to do so. Naming your endowment after your family, a respected faculty person or coach or a business provides a personal connection for the recipient of your endowment gift.
Why is an agreement needed?
An endowment agreement ensures your gift will be used exactly as you want. It outlines specific criteria and may include background information on why your gift is important to UND. Your development officer will assist you in drafting the agreement.
How does an endowment grow?
Your endowment is invested and a reasonable spending amount is determined by the UND Foundation Board of Directors, which reviews that amount annually.
How will I know how my endowment is making impact at UND?
Your passion for UND is fueling growth on campus. The UND Foundation stewards endowments by providing you with an annual report that illustrates your endowment’s growth and activity. In many instances you will also receive information about the recipient of your endowment. While reports are sent annually, you may request a report any time by calling our office.