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Treasurer Office
University of Pennsylvania
Suite 737 Franklin Building
3451 Walnut Street
Philadelphia, PA 19104
215.898.9844 (Phone)
215.573.6392 (Fax)

[ Investment Services ]

Trust Administration

The Office of Trust Administration administers Penn's endowments and other restricted gifts to ensure their use is compliant with donor wishes or relevant laws. It also has responsibility for monitoring and administering Penn's internal and external trusts and annuities.

Trust Administration also ensures that the University follows the donor's wishes in the use of Endowments and Restricted Gifts and maintains all original documents for these restricted funds. All questions regarding the use of these funds should be directed to this office for clarification.

Establishing New Funds

Trust Administration is responsible for the creation of new funds for operating gifts, capital gifts, endowments and agency funds to meet donor requests. Below is a description of each of these types of funds.

Endowment Funds

Funds established to provide support for the maintenance of the organization. There are different types of endowment funds. Permanent endowments are generally established with donor-restricted gifts and bequests to provide a permanent source of income. A term endowment provides support for a specific time period. A fund functioning as endowment or quasi- endowment is a fund that generates income but is not donor restricted.

Operating Funds

Established to hold gifts received from a donor or donors which are restricted for a specific operating purpose.

Capital Funds

Established to hold gifts received from a donor or donors which are restricted to a capital project, such as building renovation or construction.

Agency Funds

Resources held by the University as an agent for a third party. The University has little or no discretion over the use of these resources.

To request establishment of a new fund, a new fund request form must be completed and signed by the school senior business administrator. Appropriate documentation must accompany the request. All original documentation including fund agreements should be sent to Trust Administration for safekeeping. For capital funds, a project related program code is also required to establish the fund.

Request for new grant funds should be referred to the Office of Research Services.