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Endowment Policies
An endowment consists of money or other assets received for a purpose where the donor, grantor or source has specified that the principal shall be preserved.
The CPC serves as the recipient of certain gifts intended by donors, or the University "for endowment". In this role, the CPC may serve as the trustee. This responsibility includes a fiduciary standard to use and account for endowment assets in a manner prescribed by accepted financial standards, within program and policy objectives of the University, and, where applicable, in accordance with governing instruments.
CPC Board of Directors Document Number 100, Policy Number 108 and Policy Number 125 provide the framework for managing endowments. The objectives of these policies are two-fold: 1) to support the University's Endowment Program with a mechanism through which proposed endowments are evaluated and managed; and 2) to insure compliance with restrictions and designations imposed by donors, the University and the Board on fund earnings and use. View Policy 108, View Policy 125
While establishing the broad groundwork for endowment investment management, Policy Number 125 also assigns certain responsibilities to the Board's Standing Committee on Investments. (Click here to view the endowment fund's current Statement of Investment Philosophy and Guidelines in PDF format View PDF)
Life Income Fund Policies
Life income gifts consist of planned gifts of money or other assets received in which the donor or designated beneficiary receives an income stream for life and the remainder is to support a purpose specified by the donor.
The CPC serves as the recipient of gifts intended by donors for Charitable Gift Annuities. This responsibility includes a fiduciary standard to use and account for assets in a manner prescribed by accepted financial standards, within program and policy objectives of the University, and in accordance with the governing instrument.
CPC Board of Directors' Document Number 100, Policy Number 113 provides a policy framework for managing life income gifts. The objectives of this statement are to provide a systematic mechanism through which life income gifts will be evaluated, accepted and managed, as well as provide some guidance as to how University representatives should interact with prospective donors, i.e. Model Standards of Practice, Donor Bill of Rights and Statement of Ethics. View Policy 113