What is a true, term, and quasi endowment?

The principal of a true endowment may never be expended, only the income derived from investment of the principal may be used. The principal of a term endowment may be expended after a period of time stipulated by the donor. A quasi endowment is created by the university and the principal can be spent if authorized by the Board of Regents.

Created: Mar 16, 2004 - 3:1am Updated: Aug 07, 2009 - 5:10am Author: Web Technologies Article: 1085
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