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  • 1.  General Fund to Quasi-Endowment

    Posted 25 days ago

    Hi all,

     

    We currently have a substantial balance in a general fund, and the department head has asked whether a portion of these funds could be used to establish a quasi-endowment.

     

    If the quasi-endowment would support the same purpose as the existing fund, would it be permissible to allocate a portion of the balance to create the quasi-endowment without needing to obtain donor consent?

     

    Thank you,

    Tammy

    5 DAYS. 1 MISSION. 1 TEAM.

    May 3 - 7, 2026 • WestPointChallenge.com

    Your participation matters; make your gift during the West Point Challenge!

     

    Tammy M. Cline

    Assistant Director, Gift Policy, Processing & Reporting

    West Point Association of Graduates

    698 Mills Road West Point, NY 10996

    Phone: 845.446.1540

    Fax: 845.377.3039

    WestPointAOG.org

     

    Serving West Point and the Long Gray Line

     

    CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender’s written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

     

     



  • 2.  RE: General Fund to Quasi-Endowment

    Posted 25 days ago
    You typically cannot use donated funds to create a quasi-endowment. Those are generally restricted to expended budget dollars, excess revenue, and undesignated bequests (if you have a policy for those). 

    Donors must approve a repurposing of their gifts. But, again, not usually to a quasi.

    You should seek guidance from Counsel!

    John

    John Taylor Principal, John H. Taylor Consulting, LLC 919.816.5903 Big ideas; small keyboard



    Original Message


  • 3.  RE: General Fund to Quasi-Endowment

    Posted 25 days ago

    Thanks, John! I will talk to our Finance team but I had a feeling it couldn't be done.

     

    Tammy M. Cline

    Associate Director, Gift Policy, Processing & Reporting

    West Point Association of Graduates

    698 Mills Road West Point, NY 10996

    Phone: 845.446.1540

    Fax: 845.377.3039

    WestPointAOG.org

     

    Serving West Point and the Long Gray Line

     

    CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender’s written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

     




    Original Message


  • 4.  RE: General Fund to Quasi-Endowment

    Posted 24 days ago

    We have a policy in place by the board of trustees that says any undesignated givt over x amount goes to Quasi, not just undesignated bequests. My former vp argued that it should go to annual fund like other undesignated gifts, but the controller enforces the policy in place for anything over that amount. Is this acceptable as long as there is a policy in place?



    ------------------------------
    Denise Mattie
    McMurry University
    Director of Advancement Services
    mattie.denise@mcm.edu
    ------------------------------

    Original Message


  • 5.  RE: General Fund to Quasi-Endowment

    Posted 24 days ago
    The short answer is yes, a truly undesignated gift could be placed in a quasi-endowment. Note that there is a difference between "undesignated" and "unrestricted" (the latter is usually defined as your annual fund).

    However, most organizations try to avoid undesignated gifts, instead opting to work with a donor to make a gift to a specific cause or purpose. Of course, that's not possible with undesignated bequests.

    State UPMIFA laws may have something to say about quasi-endowments. So you should always check with Counsel before adopting any policy that moves a donor's gift under any circumstances.

    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


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