Glossary of Terms

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Fund Distributions
The amount of income made available for expenditure through the spending rate, determined from time to time by the Board of Trustees of the University. Fund distributions may be more or less than the actual amount of traditional income (i.e., interest and dividends) earned by the endowment fund. In years which the fund distributions are greater than traditional income, a portion of realized and unrealized gains will be distributed. The University is permitted to distribute a portion of the endowment fundís gains by the Uniform Management of Institutional Funds Act.
Funding Period Expiration Date
A date set approximately five years from the date that the University sends an endowment agreement to the donor for signature. The funding period expiration date represents the date at which the University may close an underfunded endowment. The expiration date is always reflected as the last calendar day of the applicable fiscal year.
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