49. University Endowment Fund.- (1) The University shall establish a
Endowment Fund having such funds as may be determined by the Sponsoring Bodywhich can include donations and other funds received from time to time.(2)The University shall have the power to invest the University Endowment Fundin a manner as may be specified by the Statutes.(3)The University Endowment Fund is a self-imposed fund that the Universitydesires to maintain voluntarily and invest it responsibly to protect itself from financialchallenges that may arise on account of parsing social objectives and/or unforeseencircumstance.(4)The University may transfer any amount from the General Fund or thedevelopment fund to the University Endowment Fund. Excepting in the event ofdissolution of the University, in no other circumstances can any monies be transferredfrom the University Endowment Fund for other purposes.(5)Eighty percent of the incomes received from the University Endowment Fundshall be used for the purposes of development or general work of the University. Theremaining twenty percent shall be reinvested into the University Endowment Fund.
