Named Funds and Endowments
Name of Fund:
Purpose of Fund:
Restrictions on Fund Use or Expenditure:
1. The principal value (also referred to herein as the historic dollar value) of this fund is permanently restricted in
perpetuity and may not be expended EXCEPT as expressly provided in this Agreement, unless the donor consents
in writing to release the permanent restriction, in whole or in part, after the fund is established, as provided herein
or in a separate writing.
2. The Portland State University Foundation, Inc. (Foundation) Board of Directors annually may appropriate and
expend income, net appreciation (realized and unrealized) and principal of the fund for the purposes stated above
in an amount equaling up to four percent (4%) of the current fair market value of the fund, or such amount (if any)
as the Board should determine in its sole discretion. For purposes of this Agreement, fair market value shall
include all principal, net appreciation or loss, and accrued but unexpended income at the valuation date.
3. The Board of Directors may appropriate and expend monies from the fund even when, due to investment losses,
administrative costs or prior annual expenditures, the fund has dropped below the historic dollar value of the fund
as defined under the Uniform Management of Institutional Funds Act as codified under the Oregon Revised
Statutes at ORS 128.310 et seq. at the time of the execution of this Agreement.
4. In the event the Board of Directors determines that any donor-imposed restriction under this Agreement has
become obsolete, inappropriate, impracticable or illegal, such that compliance with any restriction would defeat or
substantially impair accomplishment of the gift purpose, the Board of Directors may release any such restriction,
in whole or in part, without seeking court approval. Provided, however, that the Board of Directors shall not
change an endowment fund to a fund that is not an endowment fund, shall not all