Title
University of North Carolina at Chapel Hill Policy on Endowments
Introduction
Purpose
The purpose of this policy is to ensure a universal understanding of the management and investment of the University of North Carolina at Chapel Hill's ("UNC-Chapel Hill" or "University") endowment.
Scope of Applicability
This Policy applies to University administrators, fundraisers, and donors.
Policy
Policy Statement
Endowment funds exist to support the University and its mission of education, research, and public service. The funds and other properties established pursuant to North Carolina General Statute §116-36 are sometimes referred to as the statutory endowment. Endowment funds may be held in one of the University's affiliated foundations. The Board of each foundation determines how that endowment will be managed and invested.
Endowment funds result from donations where the principal is to remain intact and be invested to produce income that may be expended or reinvested. In other words, the gift exists in perpetuity. Endowments can be funded by one gift or several gift installments over time. All Distinguished Professorship funds seeking matching dollars through the Distinguished Professors Endowment Trust Fund must be in the statutory endowment in order for the State to provide the matching dollars. The solicitation of University endowment funds is usually coordinated through the Office of University Development. Solicitations of endowments held in affiliated foundations are usually coordinated by that foundation.
The responsibility for the investment of University Endowment funds is the exclusive responsibility of the Board of Trustees of the Endowment Fund of The University of North Carolina at Chapel Hill (the "Endowment Fund").
The responsibility for the investment of endowment funds held by affiliated foundations rests with the respective board of directors of each foundation.
Donors should be given assurances that their gifts will be invested in a manner consistent with the general policies of the University.
Donors cannot:
- direct that specific investments be made, or
- direct that a specific investment manager be used.
Exceptions
None
Contact Information
University Development
- Title: Vice Chancellor for University Development
- Name: Michael Andreasen
- Phone: 919-962-2336
- Email: Mike.Andreasen@unc.edu