Temporarily Restricted Funds

Temporarily Restricted (TR) funds may be established with gifts of $10,000 or more. TR funds are not invested with the foundation’s endowment, and, thus, they do not exist in perpetuity. It is the policy of the Brooklyn College Foundation (BCF) that each TR fund of less than $25,000 has a shelf-life of five years. This means that monies within a TR fund must be spent down or endowed at $25,000 within five years of the inception of the fund. Monies in a TR fund may be used immediately for the purpose of the fund. Gifts of $10,000 to $24,999 may be used to finance one of the following:

  • Scholarships
  • Awards
  • Departmental/Programmatic funds

Endowed Funds

Endowed (or permanently restricted) funds may be established with gifts of $25,000 or more. Hundreds of individual endowed funds are pooled together and invested by the Brooklyn College Foundation under the professional supervision of the Investment Committee of the BCF Board of Trustees. The principal (corpus) of an endowed fund is preserved and protected by the BCF. Unless specified by the donor, the BCF will not spend below the original gifted value of an endowed fund. Each endowed fund earns an annual pay-out (currently set at 4 percent of principal), which shall be used to finance the purpose of the fund.

Quasi-endowed Funds

Quasi-endowed (or sinking) funds may be established with gifts of $25,000 or more. Quasi-endowed funds are pooled together and invested with the BCF’s overall endowment. They are administered almost exactly the same way as endowed funds except in any given year when the market value of a quasi-endowed fund falls below its gifted value (during a period of market decline). When this occurs and the fund fails to earn interest pay-outs, the BCF, by default, has the authority to invade principal to provide a preset annual payout in an amount equivalent to the payout approved annually by the foundation's board of trustees (currently set at 4 percent of principal). This ensures that the purpose of the fund is fulfilled, regardless of the state of the market.

Both endowed and quasi-endowed funds may be used to finance the following:

Gifts of $25,000 and up:

  • Scholarships
  • Awards
  • Prizes
  • Internships
  • Travel Stipends
  • Departmental/Programmatic funds

Gifts of $80,000 and up:

  • All items listed in previous section
  • Time off for faculty research

Gifts of $100,000 and up:

  • All items listed in previous sections
  • Presidential Scholarships

Gifts of $500,000 and up:

  • All items listed in previous sections
  • Fellowships

Gifts of $1,000,000 and up:

  • All items listed in previous sections
  • Professorships

Gifts of $1,500,000 and up:

  • All items listed in previous sections
  • Endowed chair