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Does an endowed fund have to be set up with a single large payment?

April 26, 2017endowed fund large payment

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Does an endowed fund have to be set up with a single large payment?

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Certainly not, but funds are not disbursed from an endowment until it reaches the prescribed size. For example, a $50,000 endowment could be set up with a pledge of $10,000 a year for five years, but awards to students would not begin until the endowment is complete.