University Endowment Fund

(1) The University shall establish a Endowment Fund having such funds as may be determined by the Sponsoring Body which can include donations and other funds received from time to time. (2) The University shall have the power to invest the University Endowment Fund in a manner as may be specified by the Statutes. (3) The University Endowment Fund is a self-imposed fund that the University desires to maintain voluntarily and invest it responsibly to protect itself from financial challenges that may arise on account of pursuing social objectives and/or unforeseen circumstance. (4) The University may transfer any amount from the General Fund or the development fund to the University Endowment Fund. Excepting in the event of dissolution of the University, in no other circumstances can any monies be transferred from the University Endowment Fund for other purposes. (5) Eighty percent of the incomes received from the University Endowment Fund shall be used for the purposes of development or general work of the University. The remaining twenty percent shall be reinvested into the University Endowment Fund.