Endowed Fund Gift Agreement Template (Restricted/Named Endowment)
A model gift agreement establishing a permanently endowed, donor-restricted fund — the institution's primary donor-intent and UPMIFA-compliance instrument, and the highest-risk document in the catalog.
Draft: pending review
This starter document is signed off by Higher-ed general counsel (UPMIFA/endowment) + planned-giving officer (CAP/CFRE) before it ships. The guardrails below define that review.
What’s inside
- Fund name, purpose, and eligibility criteria written with an intentional specificity level
- Endowment corpus vs. spendable-income structure and reference to spending policy
- Donor-intent recitals plus a variance/modification ('changed circumstances') clause
- Naming provisions cross-referenced to the naming policy, and reporting commitments
Legal & ethical guardrails
The sector-specific compliance points this document must honor.
- Governed by UPMIFA: spending must meet the prudence standard — the agreement must not promise a fixed payout that conflicts with prudent spending
- A modification/variance clause is essential; without it, redirecting an obsolete purpose may require court/AG involvement (cy près)
- Overly specific eligibility can render a fund unspendable over time — specificity is a legal-risk dial
- Restrictions are presumptively enforceable, not absolutely 'binding' — UPMIFA §6 allows modification/release with donor consent, or via the small/old-fund release or AG-notice/court (cy-près) process. Add a standby clause naming an alternate charitable purpose and an underwater-endowment provision; solicitation language contradicting the restriction still creates competing-intent claims
Held for professional review.
The native DOCX and full working text ship only after sign-off by Higher-ed general counsel (UPMIFA/endowment) + planned-giving officer (CAP/CFRE) on this exact version. The summary and review requirements remain visible in the meantime.
Not legal advice. Not legal, tax, or accounting advice. The Fundraising Co. provides educational fundraising materials and is not a law firm; nothing here creates an attorney–client relationship or substitutes for advice from professionals licensed in your jurisdiction. Laws and IRS rules vary by state and change over time. Review every document with qualified counsel before use.