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Re: Applying Donations to Spendable
Our foundation also allows this. As Samantha mentioned, many of those types of donations are toward increasing the amount of that year's scholarship award. I would say we usually have under 5 donors that do this each year. This year, we had a donor give to increase the amount from the unrestricted endowment they established which will be utilized during our competitive grant cycle this month. We've also had a few instances where we've placed donations into Spendable when a new endowment is created. New endowments need to be invested for a minimum of 4 quarters before they generate an award, so donors will give the minimum establishing amount and the extra that is placed into Spendable to begin generating awards during that waiting period. That is a very rare occurance for us.
