A quasi-endowment fund may be expended by a nonprofit organization after either the passage of a period of time or the occurrence of an event specified by the donor of the endowment principal.

Question

Quizplus · Accepted Answer

A quasi-endowment fund is established by the organization's governing board, not by donor restrictions, and can be expended at the board's discretion, unlike true endowments which are donor-restricted.

A Quasi-Endowment Fund May Be Expended by a Nonprofit Organization