Permanently Restricted Gift Spending Policy

It is the University’s policy to distribute annually 4% of a trailing three year average* of the Permanent Endowment’s total asset value, with the understanding that this spending rate plus inflation will not normally exceed total return from investment.  In years in which endowment earnings exceed 4%, the balance in the temporarily restricted fund will accumulate to offset years in which earnings are less.

*The spending calculation is determined in January of each year based on the average of three preceding December 31st fund balances