Endowments
An endowment is a gift that is held in perpetuity and invested. The return on the investment provides a constant source of income for the activities designated by the donor. Endowment funds at the University of Mount Olive help maintain the institutions financial strength.
Endowments can be established through current gifts of cash, stock or real estate or planned gifts such as charitable trusts, charitable gift annuities, life insurance or bequests.
Endowments are invested in the market with 4% of the earnings interest distributed or reinvested. Endowment Funds are the exclusive responsibility of the Board of Trustees. The investment responsibility rests with the Board of Trustees Business Affairs Committee.
An Endowed Fund Agreement (EFA) must be signed prior to the establishment of an endowed fund. Any gift for a restricted endowment must be reviewed and approved prior to its execution. Endowments must reach a minimum of $25,000 within 5 years of its inception before any income from that fund can be distributed.
If you would like to contribute to the University of Mount Olive Endowment or are interested in starting one of your own, please contact Mr. Dwayne McKay, for more information at 919-658-7757 or dmckay@umo.edu.