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How are Foundation funds accounted for and invested?

April 26, 2017accounted foundation funds invested

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How are Foundation funds accounted for and invested?

1 Answer

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Restricted gifts given to specific areas are assigned to accounts consistent with the donor wishes to be used by that program only. Unrestricted gifts are placed into the Foundation general account to be used as directed by the Foundation Board according to the strategic plan. Endowed gifts are placed in investment accounts. Only the interest from these accounts is used in the area designated by the donor and the principal remains preserved. The Marquette General Foundation is audited annually by an independent auditing firm.