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Resolutions of
The Board of Trustees

Lincoln University, PA
 

RESOLUTION 428
February 8, 2013

   
CREATING AN ENDOWMENT SCHOLARSHIP FUND                           RES428_020813
 
 

  
RESOLVED, That the minimum amount required to create an endowed scholarship fund is $50,000.00 payable over a five-year period.  Scholarship fund accounts not containing a balance of this minimum amount at the expiration of the five-year period will be distributed as temporarily-restricted scholarships based on the donor-defined criteria established for the endowed fund; and further
 
RESOLVED, That notice of this new minimum requirement for the creation of an endowed scholarship fund shall be published in all generally circulated University publications to all alumni and to the general public of potential givers and to become effective in fiscal year 2014.
 
The motion was properly moved and seconded.
 
Motion carried unanimously.


 

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