FundSvcs Community

Hi,
Our institution has a signed gift agreement for an endowed scholarship that after the stated 5-year minimum has not reached its endowed level (it's about 60% funded). We have tried contacting the donor multiple times through email, phone messages, and written mail to let them know that the time to fully endow this scholarship has passed and it will become an expendable fund per the agreement (snippet below). The donor has not communicated with us regarding this matter and does not respond to any attempts at contact. Aside from documenting the various ways ]we have tried to reach the donor, is there anything else to be done from a legal or best practice standpoint when it comes to expending this fund?

Agreement statement:

If the initial principal goal has not been reached by the end of 2023, this shall become an expendable fund paid out in awards to students until it has been fully expended.

Thank you,

Kelly

Hi,
Our institution has a signed gift agreement for an endowed scholarship that after the stated 5-year minimum has not reached its endowed level (it's about 60% funded). We have tried contacting the donor multiple times through email, phone messages, and written mail to let them know that the time to fully endow this scholarship has passed and it will become an expendable fund per the agreement (snippet below). The donor has not communicated with us regarding this matter and does not respond to any attempts at contact. Aside from documenting the various ways ]we have tried to reach the donor, is there anything else to be done from a legal or best practice standpoint when it comes to expending this fund?

Agreement statement:

If the initial principal goal has not been reached by the end of 2023, this shall become an expendable fund paid out in awards to students until it has been fully expended.

Thank you,

Kelly

Hi,
Our institution has a signed gift agreement for an endowed scholarship that after the stated 5-year minimum has not reached its endowed level (it's about 60% funded). We have tried contacting the donor multiple times through email, phone messages, and written mail to let them know that the time to fully endow this scholarship has passed and it will become an expendable fund per the agreement (snippet below). The donor has not communicated with us regarding this matter and does not respond to any attempts at contact. Aside from documenting the various ways ]we have tried to reach the donor, is there anything else to be done from a legal or best practice standpoint when it comes to expending this fund?

Agreement statement:

If the initial principal goal has not been reached by the end of 2023, this shall become an expendable fund paid out in awards to students until it has been fully expended.

Thank you,

Kelly

Hi,
Our institution has a signed gift agreement for an endowed scholarship that after the stated 5-year minimum has not reached its endowed level (it's about 60% funded). We have tried contacting the donor multiple times through email, phone messages, and written mail to let them know that the time to fully endow this scholarship has passed and it will become an expendable fund per the agreement (snippet below). The donor has not communicated with us regarding this matter and does not respond to any attempts at contact. Aside from documenting the various ways ]we have tried to reach the donor, is there anything else to be done from a legal or best practice standpoint when it comes to expending this fund?

Agreement statement:

If the initial principal goal has not been reached by the end of 2023, this shall become an expendable fund paid out in awards to students until it has been fully expended.

Thank you,

Kelly

Hi,
Our institution has a signed gift agreement for an endowed scholarship that after the stated 5-year minimum has not reached its endowed level (it's about 60% funded). We have tried contacting the donor multiple times through email, phone messages, and written mail to let them know that the time to fully endow this scholarship has passed and it will become an expendable fund per the agreement (snippet below). The donor has not communicated with us regarding this matter and does not respond to any attempts at contact. Aside from documenting the various ways ]we have tried to reach the donor, is there anything else to be done from a legal or best practice standpoint when it comes to expending this fund?

Agreement statement:

If the initial principal goal has not been reached by the end of 2023, this shall become an expendable fund paid out in awards to students until it has been fully expended.

Thank you,

Kelly