If a donor were to contribute money with instructions that the funds be invested for a period of time and then released to be used for any purpose,this would be called a(n):
A) Permanent endowment
B) Quasi-endowment
C) Term endowment
D) Unrestricted endowment

Question

Quizplus · Accepted Answer

A term endowment is a type of endowment where a donor contributes money with instructions that the funds be invested for a specific period of time, after which the funds are to be released to be used for any purpose. This is different from a permanent or unrestricted endowment, where the funds are invested indefinitely and only the income is used for charitable purposes, and a quasi-endowment, where the funds are designated by the organization itself as being separate from its general funds but without donor restrictions on the use.

If a Donor Were to Contribute Money with Instructions That