I believe you're right. The donor received gift credit for the original gift that created the endowment. They should no longer receive credit for the interest created from that initial investment.
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Dariel Dixon
Chautauqua Institution
ddixon@chq.org------------------------------
Original Message:
Sent: 08-19-2025 11:19 AM
From: Danielle Muller
Subject: Spinner Accounts
We are being asked to give gift credit to the donor on the proceeds of the endowment. My understanding is that once the funds are in our account and control, they can no longer receive gift credit for the interest and endowment receives?
Original Message:
Sent: 8/19/2025 11:40:00 AM
From: David Woodley
Subject: RE: Spinner Accounts
I think that's simply called a spendable account. It's pretty Normal if you want to maintain a hands off policy to the principal or the earnings account of an endowment.
Dave Woodley
Unlock*Share*Connect
Chief Data Officer
University of Alaska Foundation
Original Message:
Sent: 8/19/2025 11:33:00 AM
From: Danielle Muller
Subject: Spinner Accounts
Hi All,
Could someone provide more information on "spinner accounts"? My previous Director strongly discouraged us from using them, but our new VP would like to explore the option. From my understanding, a spinner account involves transferring the earnings from an endowed account into a separate spending account-am I interpreting that correctly?
I'd also appreciate learning more about the pros and cons of spinner accounts, as well as how other institutions typically manage or use them.
Thank you,
Danielle
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| Danielle Muller (she/her/hers)
Sr. Associate Director | Advancement Information Services
Union College
office: 518.388.6646 |