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Named Endowed Funds


A named endowed fund is a permanently maintained fund that is part of the general endowment of Princeton Theological Seminary and is given an approved name and purpose at its inception by the donor in consultation with the Seminary. Income from endowed funds is expended in accordance with the trustees’ spending policy.

A minimum of $10,000 is required to establish a named endowment fund, although the minimum may be higher for special kinds of endowed funds. The donor(s) may take up to three years to reach the minimum level provided the donor has provided the Office of Advancement with a written record of such a pledge.

The endowment is established when the Seminary has received at least $10,000 and the donor and president of the Seminary have signed parameters outlining the purpose of the fund (see outline and sample). Development officers are responsible for submitting account requests, along with a copy of the signed fund parameters, to the Business Office when a fund is first established and for ensuring that other appropriate offices are notified and that endowed funds are appropriately recorded and acknowledged.

  • Guidelines
  • Funding
  • Requirements
  • Sample


How to Give


Gifts can be funded with checks/cash, appreciated securities, and a variety of planned giving instruments that can be beneficial to the donor as well as the Seminary. If the donor cannot give an initial gift at the minimum threshold level, the donor can consider making a multi-year pledge and/or specify that accrued interest be applied entirely to the principal until the required sum is reached. These general guidelines were approved by the Board of Trustees on May 17, 2005, and will be reviewed periodically thereafter. Any exceptions to these guidelines require the approval of the President and the Vice President for Advancement in consultation with the Board of Trustees Advancement Committee.

Gifts by cash, check, or charge card to PTS:

Gifts made by cash, check, or charge card may be sent to:

Vice President for Advancement
Princeton Theological Seminary
P.O. Box 821
Princeton, NJ 08542-0803

Give Online to PTS:

Make gifts online with Visa, MasterCard or American Express.

Gifts by wire to PTS:

To wire stock or money to Princeton Seminary, please notify Jim Morgan in the Seminary’s Business Office, (800) 622-6767, Ext. 7712 or (609) 497-7712, of your intention to do so and the purpose of your gift.

For wiring stock:

DTC #0221 UBS Financial Services, Inc.
Credit PT-53805-21
Princeton Theological Seminary Gift Account

For Wiring Money:

UBS AG
ABA# 026007993
UBS Financial Services Inc. RMA
A/C: 101-WA-258640-000
F/C: Princeton Theological Seminary Gift Account
PT-53805-21


Please note: With gifts of stock, it is very important that you also inform Jim Morgan of the name of your brokerage firm and of the stock being wired. This facilitates the transfer and assures the prompt and accurate crediting of your gift.

For Securities Held By The Donor:

Send or deliver your certificates—without any endorsement or assignment—by First Class mail, along with a letter of transmittal giving your name, address, and purpose of the gift, to the Office of Advancement.

In a separate envelope, mail or deliver to the Seminary a stock power for each security, left blank except for your signature. Be sure to sign the power exactly as your name appears on the certificate and have your signature guaranteed by your bank or broker. Stock powers are available from any bank, brokerage firm, or by downloading this form.
(Click Here to Download Form )

Thank you for your cooperation and your thoughtfulness of the Seminary. If we may clarify any of the above, or be of further service to you, you are welcome to contact Rosemary Mitchell in the Office of Advancement at (800) 622-6767, Ext. 7750 or (609) 497-7750.

Funding Requirements for Restricted/Named Endowments



 Purpose  Endowment Requirement
FACULTY ENDOWMENTS
Faculty Chair
$3,500,000
Visiting Professor
$1,500,000


SCHOLARSHIP ENDOWMENTS
Foreign National Student Scholarship

Tuition, Room, Board, Books, Travel, Medical
$400,000
Tuition, Room, Board, Travel
$300,000
Full-tuition Scholarship
$200,000
One-half-tuition Scholarship
$100,000
One-third-tuition Scholarship
$70,000
Partial Scholarship Grant
$15,000


CONTINUING EDUCATION SEMINAR
(Depending on seminar length and leadership)

$75,000-$200,000


COMMENCEMENT PRIZE

$15,000 minimum
PROGRAM ENDOWMENTS
Examples:

$15,000
minimum,
subject to
consultation
with Seminary
Relations staff

Asian American Program
Hispanic Theological Initiative
Hispanic Theological Initiative
Institute of Theology
Institute for Youth Ministry
Other Special Programs


LIBRARY ENDOWMENTS
Book Acquisitions

$15,000 minimum,
subject to
consultation
with Seminary
Relations staff
(by academic discipline)
Library Facilities
Library Services
Periodical Acquisitions




OTHER ENDOWMENTS may be established at a minimum of $15,000 subject to consultation with Advancement staff. Examples include establishing endowments for Alumni/ae Services, Buildings/Grounds, Communications, Development, Faculty Housing, Field Education, Information Technology Services, etc.

Gifts of any size for UNRESTRICTED ENDOWMENT purposes are welcomed.

Guidelines for Gift Endowments


Preface:
The establishment of a permanent endowment is the unique privilege of a donor to provide perpetual funding for a valued purpose. These guidelines are intended to assist persons who are considering making a gift to establish an endowment at Princeton Theological Seminary. They have been adopted by the Advancement committee of the Board of Trustees to clarify and facilitate the process by which endowments can be initiated and established at the Seminary.

Endowment Defined:
An endowment is a gift whose funds are invested to provide continuing income, in perpetuity, for the general or specific purpose stated in the written endowment agreement between the donor and the Seminary. Donor established endowments shall be used only for the purpose(s) specified in the endowment agreement which must be accepted by the Seminary as well as the donor.

Endowment Income:
Income utilization of all endowment funds is determined by the Seminary Board of Trustees (normally in the range of 4-5% of the three year rolling average of the market value of the funds). Endowment earnings in excess of the approved utilization are credited to the principal of the endowment. This enables the endowment to keep pace with inflation and thereby continue to fulfill the original intent of the donor.

Endowment Focus:
Endowment gifts may be unrestricted or they may be restricted for a particular purpose subject to the approval of the Seminary Board of Trustees. Unrestricted gifts enable the donor to support the total program of the Seminary in perpetuity. Such gifts provide institutional stability and flexibility. Restricted gifts enable the donor to provide funds for the stated purpose of the endowment in perpetuity. A donor may request that an unrestricted or restricted endowment be named or that it remain anonymous.

Procedure for "Named" Endowments:
Normally a "named" endowment (e.g., for a scholarship or a faculty chair, or other purpose) shall be established through a written and binding agreement assuring 100% funding of that endowment by the donor(s) within a specified period of time (usually within 3-4 fiscal years or less) and stating parameters of the fund which are agreeable to both the donor and the institution. Donors may also specify that available earned income be returned to principal rather than expended for a fixed number of years during which time the fund will grow.


Sample


Bill Smith Scholarship Endowment Fund


In March 2099, Jane Smith, a trustee of Princeton Theological Seminary from 2090-present, gave $500,000 to Princeton Theological Seminary to establish a named scholarship endowment fund in honor of her father, who was a Princeton alumnus of the Class of 2050 and served churches in Hawaii, California, and Arizona.

The parameters of this scholarship are as follows:

Funds for the scholarship are placed in the Seminary’s endowment where they will be invested according to the Seminary’s endowment policy. The fund income will be expended according to the Seminary’s spending policy.

The corpus of the fund is not to be invaded. Any annual income available for the award but not expended in a given year shall be returned to the fund and available for expenditure in future years.

Additional gifts of any size may be made at any time. Such gifts designated to this fund will be placed in the corpus unless otherwise indicated by the donor.

Each year, the income from the fund will be utilized to support one or more students with demonstrated financial need and academic promise.

Recipients will be selected by the Director of Financial Aid, who will notify the Office of Advancement of the recipient’s
name(s).

The Office of Advancement will forward the name of the scholarship recipient to Ms. Smith on an annual basis and ask the recipient to write a personal note of thanks to the donor.



   


 Jane Smith

 Date





 Iain R. Torrance

 Date