Letter of Understanding Regarding Gift to University to Establish Scholarship Fund by pellcity27

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									                     Letter of Understanding Regarding Gift to University
                                to Establish Scholarship Fund

                                         (Date of Letter)

                                     (Name of University)
                                     (Address of University)
(Name of Donor)
(Address of Donor)

       Re:     (Name of Scholarship Fund)

      (Name of University) agrees to establish the (Name of Scholarship Fund), to be
governed in accordance with the terms of this Agreement:

1.       The fund shall be known as the (Name of Scholarship Fund), hereinafter called the
Fund, and shall be an endowed scholarship fund. The Fund shall be established with an outright
gift of $___________ by (date), and the establishment of a deferred gift of $___________ by
(date), given by (Name of Donor), hereinafter called the Donor. The Fund will become effective
immediately upon receipt of the initial gift of $_______________. This Fund shall be held and
administered as a part of the University Pooled Endowment Funds.

2.      Additional gifts may be made over time. The investment, management and expenditure
of the Fund shall be in accordance with University policies and procedures. Any outright or
deferred gifts designated for the Fund by other sources shall be added to the principal and held,
invested and administered as though an original part of the Fund.

3.     The Fund shall be used to provide financ
								
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