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Guidelines for Chair Endowments

Amount

The minimum amount to establish a chair endowment is $2,000.000. Funding is to be completed within ten years unless a deferred charitable gift or bequest documentation has been received. Funds with less than $250,000 after a period of time may revert to an established endowed program. Donors are encouraged to continue adding to this endowment yearly through cash and pledges and/or by bequest, deferred charitable gifts or estate planning.

Acceptance

All chair endowments must meet institutional priorities and are subject to approval by the respective academic dean and the president. Trustees will periodically take action to accept endowments that have been established for EMU.

Endowment Earnings Use

When the fund balance has reached $25,000, chair endowment earnings will become available for use. The respective academic dean and assigned program administrator will coordinate the use of chair endowment earnings.

Management and Investment

EMU endowment funds are managed and invested under guidelines developed by the Mennonite Board of Education and the Board of Trustees of EMU. Income payout rates are set at levels intended to preserve the future purchasing power of the endowment principal and to protect against erosion by inflation.

Reports

An endowment activity and earnings report will be sent to the respective dean and/or the contact person listed on Development Office records.

Review

Twenty years after the date of this agreement and at periodic intervals thereafter, the endowment agreement will be reviewed by the EMU administration and trustees. After giving due weight and deference to the stated interests of the donor, the endowment earnings and/or principal may be reallocated in light of the then current mission and purpose of EMU. The donor’s original intentions and purpose in funding the endowment will be seriously considered along with the priorities and needs of the institution at that time.

Policy

The trustees of Eastern Mennonite University reserve the right to modify these guidelines from time to time. Endowment agreements will be administered pursuant to these guidelines as periodically revised.

Approved by Board of Trustees 11/14/2015