Distributions to the University
Distributions are made from the UNE Foundation to the University twice per year.
Non-endowed funds (those which are expected to be fully expended within a short period, usually a year), are held in cash or cash-like deposits and released to the University on request subject to the requirements of the donor being satisfied.
Endowed funds (those for which the capital is to be preserved and the benefits to the University accrue from the earnings of those funds) are distributed according to a formula approved by the Board of Directors of the UNE Foundation.
The Foundation distributes a 4% on the value of the endowed fund (e.g. $100,00 would generate $4,000 annually) and any investment performance above the 4% is added to the endowment (e.g., if investment returns 6% a $100,000 endowment would provide $4,000 plus $2,000 to be added to the $100,000 endowment for a new balance of $102,000).
The Board of Directors of the UNE Foundation evaluates annually the current distribution rate at its annual meeting. The current distribution rate has been in effect since December 2016.
Before releasing funds to the University, the UNEF Board satisfies itself that the proposed purpose is in accordance with the wishes of the donor and meets the criteria (if any) established by the donor.
The arm’s length relationship between UNEF and the University means that funds are only available to the University with the approval of the UNEF Board.