SECURE ON-LINE GIVING FORM
Sometimes a donor will wish to restrict his or her gift, meaning that the proceeds of the gift can only be applied consistent with the purpose identified in the restriction. Restricted gifts may be either endowed or nonendowed. The minimum necessary to establish a new endowed fund under University Guidelines is $100,000. However, a restricted gift in a lesser amount may be added to an existing endowed fund. For example, the benefactor of an endowed scholarship or endowed chair may wish to supplement the original gift with later contributions or a bequest. In the case of an endowed gift, the principal remains part of the Law School’s permanent capital structure and the amount available for expenditure is limited to the annual payout. Because the annual payout is typically less than the income earned on the endowed fund in any given year, endowed gifts grow with capital appreciation as well as subsequent contributions.
Nonendowed restricted gifts may be spent in their entirety, either in the year given or subsequently, but only for the specified purpose. For example, some donors make an annual restricted gift to support a particular scholarship. In addition, restricted gifts can be made for a variety of general purposes, such as technology, to support a particular programmatic activity, to be used for student awards, to recruit new faculty, or to support a new initiative. The possibilities are almost limitless, which is why it is important that any restricted gift be the product of a discussion between the donor and the Law School to ensure that the restriction is one that both furthers the Law School’s priorities and is meaningful to the donor.