Hi - We have an instance where a donor passed and left our organization in their trust. The documentation says, "$X to fund scholarships for the ABC program." We now have the funding and are curious if we can allocate to several funds on campus that are scholarships to that program. Specifically, one ABC program scholarship is endowed and has a few more minor restrictions. Another fund we'd like to move some of the gift to would be an endowed scholarship to the ABC program for first-year students.
Since the documentation doesn't say "endowment", can we endow this gift? Also, if the funds we want to allocate the gift to are ABC program scholarships, but have an additional preference or further restriction, does that mean we cannot allocate the gift there?
We would still be following the donor's intent by funding ABC program scholarships. Do the additional restrictions on the existing funds and that they're endowed prevent us from allocating the gift there?
Thank you!