The University of Pennsylvania relies heavily on the financial support of alumni and friends to fund a wide range of academic activities. The Office of Development and Alumni Relations consults the Penn alumni community to identify opportunities for philanthropic support that are best aligned with the University’s mission and the passions of our donors.
Trust Administration is responsible for creating all new endowment and gift funds into the University’s accounting system (BEN Financials). Departments who need to establish a new endowment or gift fund should submit the following paperwork to Associate Trust Administrator, Irma Lerma, via email at Lerma@upenn.edu.
*Quasi-endowment funds (i.e. funds functioning as endowments or unrestricted endowments) created with unrestricted department surplus revenue do not need donor–supporting documentation.
All original donor documentation should be delivered to Trust Administration, 2929 Walnut Street, Suite 300, Philadelphia, PA 19104-5099, for the permanent preservation of these documents.
The following is a brief description of each fund type.
There are three types of endowment funds.
Restricted Operating Term Gift Funds are established to receive gifts where the donor intention is to support a specific operating purpose.
Unrestricted Operating Gift Funds are established to receive gifts where the donor intention is to support unrestricted operations/general uses of a department.
Capital Project Gift Funds are established to receive gifts where the donor intention is restricted to a capital project, such as the construction of a new building or the renovation of existing building space.
For a more in-depth look at gift reporting and accounting, please review the Operating Gifts, Endowments, and Reporting User Guide.