- Foundation Home
- Make a Gift
- About Us
- For Donors
- For UT Faculty & Staff
- Publications and Reports
- Contact Us
Driscoll Alumni Center Rm 1002
2801 W Bancroft St MS 319
Toledo, Ohio 43606
Foundation Raises Minimum to Establish Nonendowed Funds
The University of Toledo Foundation has raised the minimum gift level for establishing
an individual non-endowed fund.
The new requirement, which is more in line with other institutions’ guidelines, is expected to prevent duplication of purposes among accounts and help limit administrative efforts and management costs.
Effective July 1, the minimum for establishing a new non-endowed fund is $2,500. Existing accounts at the UT Foundation will be grandfathered in at the current level, according to Foundation President Brenda S. Lee.
Non-endowed funds are not assessed fees and do not accrue earnings, much like a noninterest-bearing checking account. Gifts to non-endowed funds may be spent in their entirety.
Endowments are funds in which the gifts are preserved, in perpetuity, as principal. Expenditures are made from a portion of the endowment’s annual earnings, and the fund is assessed an administrative fee of 1.25 percent of the three-year average market value. The requirement for an endowment is $25,000.
The Foundation currently manages approximately 1,275 non-endowed funds and 1,000 endowments.
For more information, contact Bryan Dadey, vice president of finance and operations, at firstname.lastname@example.org or 419-530-5607.