A specific endowment is a donation where the donor has specified that the funds are to be invested and the investment income is to be used for specific purposes, which may be as wide as a department or academic area. The funds may be required to be invested in perpetuity or for a finite period. Specific endowments are of two types:
|Trust Funds||The University's practice is to establish Trust Funds in respect of most specific endowments. The relevant procedures are set out in Chapter 13 - Trust Funds. Source of funds K***|
|Other specific endowments||Where departments are aware that they are in receipt of a specific endowment for which a Trust Fund is not being established, then they should contact the Finance Division for advice.
Source of funds I***