Friday, January 11, 2013

Revising Endowment MOAs

Do you have endowments with outdated terms in the MOA?

If an MOA has outdated terms and there is no living donor, a court needs to authorize changes to the terms of the MOA.  There is a University-wide effort underway to take a package of old MOAs to court to pursue changes.  This is applicable to both Foundation and Treasury Accounting endowments. 

This is not an opportunity to change MOAs simply to be more desirable.  To get them changed, the terms need to be such that we can no longer fulfill them as written -- for example, the academic program referred to in the MOA may no longer exist or a large endowment's MOA may stipulate one scholarship per year not to exceed $250 to cover full tuition. 

If you have MOAs you would like to include, please contact Cathy Burke.  DJP