When the donor has specified a particular date or event after which the principal of the Endowment Fund may be expended, the Endowment Fund is referred to as a(n):

Question

Quizplus · Accepted Answer

A term endowment fund is one where the donor has specified a particular date or event after which the principal of the fund may be expended. This contrasts with a pure endowment, where the principal is typically not to be expended, and a quasi endowment, which is usually set aside by an institution's governing board rather than being donor-restricted.

When the Donor Has Specified a Particular Date or Event