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What is the difference between a restricted gift and an unrestricted gift?

April 26, 2017gift unrestricted

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What is the difference between a restricted gift and an unrestricted gift?

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If you make a restricted gift, also known as a designated gift, you can direct your contribution to a specific scholarship, academic program, or any other special need. If you make an unrestricted gift—one with no restrictions on its use—you give the university the ability to apply funds where students need them most, including taking advantage of unexpected opportunities and meeting unforeseen challenges.

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Unrestricted gifts provide the school with funds for a broad range of purposes, as determined by the Dean of the School, while restricted funds may be used only for the purpose specified by the donor, such as scholarships or faculty support.