When you establish a new endowment, you will work closely with a development officer to develop an endowment agreement that details how your gift will be used.
From that agreement, an endowment fund is created and held in perpetuity by the University of North Dakota Foundation, which manages and invests your fund to ensure a dependable income stream for your designated program.
- The principal of the fund is invested and the return on investment is added to the prinicipal to help grow the fund and protect it from inflation. This approach ensures your endowment will be supported far into the future.
- A fee is assessed to support UND Foundation administration costs.
- Because the endowment agreement is a legal document you are the only one who can amend the agreement.
- Once an endowment is fully-funded (minimum of $25,000 required) the UND Foundation pays out about 4 percent of the fund’s market value to support the program designated in your agreement.