Endowment funds are contributions that donors specify are to be retained and invested for income-producing purposes. The University’s endowment includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. The University currently accounts for endowment activity in two investment pools, Pool I and Pool II. Pool I is comprised of contributions, both donor-restricted and board-designated, made to the University for a variety of purposes, as well as contributions transferred from Pool II. Pool II is comprised of contributions, both donor-restricted and board-designated, made to the National Technical Institute for the Deaf. Each pool has a separate investment and spending policy.
The Board of Trustees determines the appropriate amount to withdraw from endowment and similar funds on an annual basis to provide support for operations with prudent concern for the long-term growth in the underlying assets as well as the specific factors detailed in the New York Prudent Management of Institutional Funds Act (NYPMIFA) and the Federal Education of the Deaf Act. The Endowment Committee is charged with the responsibility for directing the investment of the endowment assets according to the Investment Policy.