Gifts and Endowments

A gift is a voluntary transfer of things of value, usually in the form of cash, checks, securities, real property, or personal property. Gifts may come from individuals, corporations, foundations, and other sources. The University of Pennsylvania can use gifts for unrestricted and restricted purposes, as designated by the donor. The University makes no commitment of resources or services in return for gifts, other than agreeing to put the gift to use as the donor designates.

An endowment is a permanent fund of property or money bestowed upon the University, the income of which is used to serve the specific purpose for which the gift was intended.  More simply, an endowment is a gift fund where the original gift is invested for the purpose of generating income to provide financial support today and in the future.