University Endowment Policy

Summary

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 endowment.

Body

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:

  1. direct that specific investments be made, or
  2. 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

Details

Details

Article ID: 132156
Created
Thu 4/8/21 9:25 PM
Modified
Tue 3/7/23 11:51 AM
Responsible Unit
School, Department, or other organizational unit issuing this document.
Office of University Development
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Vice Chancellor for Development
Next Review
Date on which the next document review is due.
01/24/2024 12:00 AM
Last Review
Date on which the most recent document review was completed.
01/24/2023 12:00 AM
Last Revised
Date on which the most recent changes to this document were approved.
01/24/2023 12:00 AM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
08/04/2020 9:37 AM
Origination
Date on which the original version of this document was first made official.
08/01/2010 12:00 AM