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  • 1.  Dissolving an endowed fund & transferring to a different endowed fund with donor consent

    Posted 04-09-2024 11:00 AM
    Greetings all!
     
    I'm hoping for guidance on how to draft an agreement that transfers an established and funded endowment into another existing established and funded endowment, dissolving the first. The funds have very similar purposes and the donors of the first are in support of dissolving their endowment and moving the funds to the latter to make more of an impact, but I have not crafted a document of this nature before and want to ensure it serves to appropriately accomplish these goals. Any insight or a template/example of such an agreement would be very much appreciated.
    My thanks!


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    Leah Richards
    St. John Fisher University
    lrichards@sjf.edu
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  • 2.  RE: Dissolving an endowed fund & transferring to a different endowed fund with donor consent

    Posted 04-09-2024 11:53 AM
    This document does not need to be fancy. All you need is a simple statement signed by the donor authorizing the dissolution of their endowment and transfer to the other. It can be 3-4 sentences long! Get Counsel to approve the wording.

    However, ensure that no other individuals gave to this fund. If others did, they also need to agree to the plan.

    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


  • 3.  RE: Dissolving an endowed fund & transferring to a different endowed fund with donor consent

    Posted 04-10-2024 12:51 PM

    Thank you, John!



    ------------------------------
    Leah Richards
    St. John Fisher University
    lrichards@sjf.edu
    ------------------------------

    Original Message


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