Endowment gifts make a significant impact because they offer financial stability and ensure long-term funding to support and maintain AIChE priorities and programs.
A bequest or gift to the Endowment Fund is money that is invested on a permanent basis and not spent directly. Based on earnings and growth of the Fund, a conservative percentage of the fund is withdrawn each year to support programs so the fund will last in perpetuity. Donors can also specify spending instructions for designated funds.
AIChE’s has two different endowment funds to choose from depending on your financial objectives and a third fund to accept bequests not designated as "Endowment".
- Permanently Restricted Funds (PRF). To receive general gifts or bequests given by the donor to the Foundation Endowment Fund. "Endowment" must be mentioned as the use of the gift/bequest. A minimum of $2,000 is required.
- Permanently Restricted Donor Designated Funds (PRDDF). To receive gifts or bequests for a specific endowed program as designated by the donor. A minimum of $50,000 is generally required to establish such designated funds.
- Unrestricted General Funds (UGF). To receive all other bequests where the donor has not otherwise specified the gift to be part of the Endowment Fund.
Investment Policies for Each Fund
- PRF Funds will be commingled with the AIChE Permanent Fund and invested as determined by the Finance Committee of the AIChE Board.
- RDDF Funds – Since the purposes and spending rates of these donations vary, these gifts will be evaluated on an individual basis. If invested, they will be invested the same as the PRF Fund.
- UGF Funds will be invested in the same manner as the PRF Fund (commingled with the AIChE Permanent Fund and invested as determined by the Finance Committee of the AIChE Board).
- Withdrawals from the PRF will be in accordance with NYPMIFA rules. Withdrawal rate will be as recommended by the Foundation Board of Trustees and approved by the AIChE BOD.
- Withdrawals from the PRDDF will be in accordance with donor conditions or in accordance with NYPMIFA if not donor-specified.
- Withdrawals from the UGF will be as recommended by the Foundation BOT and approved by the AIChE BOD.
The value of these Funds will be calculated annually at the end of the second quarter and a withdrawal rate will be recommended by the Foundation Board of Trustees and approved by the AIChE BOD. The Foundation Board of Trustees will then be advised as to the amount of money that is available for projects in the coming year and spending decisions will then be made regarding the projects to be supported.
For more information on making a gift or a bequest to the Endowment Fund, please contact the AIChE Foundation at email@example.com or call 646-495-1342.