Restricted Funds Management
Restricted Funds Management procedures were implemented in order to facilitate compliance with donor intent and to promote practices that result in the greatest flexibility in long-term financial planning and utilization for the College.
The College is legally obligated to honor donor directives regarding the use of their gifts.
- Distributions from restricted endowments must be used for purposes consistent with donor intentions and should be the first source of funding to support programs and activities meeting the restriction.
- Unrestricted resources may be applied to such programs after distributions restricted to those purposes have been fully exhausted.
- If restrictions cannot be met, distributions must be held in reserve and the donor shall be contacted in the aim of securing a revised agreement for broader purposes. If the donor is no longer living, the College shall seek advice from the New Hampshire Attorney General's Office (the agent for enforcement of such gifts).