The Accounting Office is responsible for administering the University endowed fund. In general, these funds consist of endowed funds, life income funds, charitable remainder trusts, and unitrusts, which are administered in consideration of federal and state regulations, donor restrictions, and University policy and procedures. The Accounting Office serves as custodian of the permanent records for each fund.

General information

Endowment income is distributed at the end of each fiscal year on May 31 and is available for expenditure beginning June 1 of the new fiscal year.

Endowed Scholarships

Scholarship funds are awarded by the Financial Planning Office based on donor restrictions.

Professorships and Endowments restricted to Departments

Budgets are managed by department chairs, deans, and/or endowed professors.

Kelly McKinney, Assistant Controller for Reporting and Investments, is the primary contact for any endowment related questions. You may contact her at (336) 278-5217 or at kmckinney4@elon.edu.