The NUGALA Gift Agreement
Through my contribution to the NUGALA fund, I acknowledge that I have read and agree with the policies below regarding the administration and management of the fund by Northwestern University.
The Northwestern University Gay & Lesbian Alumni (NUGALA) Fund
1.Intent. Contributors to Northwestern University (“Northwestern”) desire to support Northwestern and also to support a nurturing community for students of all sexual orientations.
2.Establishment of the Fund. It is anticipated that Contributors will give a total of no less than $100,000 in cash or publicly-traded securities to Northwestern by December 31, 2011 to establish or be added to a fund to be known as The NUGALA Fund (“Fund”).
3.Type of the Fund. As soon as the gifts to Northwestern for the Fund total $50,000, the Fund will become a permanently endowed fund, and the investment of the Fund and the expendable income from the Fund shall be in accordance with and determined by Northwestern’s endowment policies. If the gifts do not total at least $50,000 by December 31, 2011, the Fund shall be an expendable fund, and the Fund shall be administered in accordance with applicable Northwestern policies.
4.Use of the Fund. Until the earlier of the date when gifts to the Fund reach $50,000 and December 31, 2011, gifts to the Fund shall accumulate and not be expended. If the Fund is a permanently endowed fund, the expendable income shall be used to provide undergraduate financial aid for deserving students at Northwestern. Contributors to the Fund would prefer the financial aid be granted to students demonstrating contributions to the GLBT community through leadership, service, volunteering, or research. If the Fund is an expendable fund, its assets shall be spent as the expendable income would be spent if it were an endowed fund.
5.Contingency. If it ever becomes impossible, impracticable, or inadvisable to administer the Fund in exactly the manner set forth above, Northwestern will administer the Fund in a manner that is consistent with Paragraph 1 of this statement.
6.Additions. Contributors may make additional gifts to Northwestern to be added to the Fund for as long as the Fund has a positive balance.
The Northwestern University Gay & Lesbian Alumni (NUGALA) Fund
1.Intent. Contributors to Northwestern University (“Northwestern”) desire to support Northwestern and also to support a nurturing community for students of all sexual orientations.
2.Establishment of the Fund. It is anticipated that Contributors will give a total of no less than $100,000 in cash or publicly-traded securities to Northwestern by December 31, 2011 to establish or be added to a fund to be known as The NUGALA Fund (“Fund”).
3.Type of the Fund. As soon as the gifts to Northwestern for the Fund total $50,000, the Fund will become a permanently endowed fund, and the investment of the Fund and the expendable income from the Fund shall be in accordance with and determined by Northwestern’s endowment policies. If the gifts do not total at least $50,000 by December 31, 2011, the Fund shall be an expendable fund, and the Fund shall be administered in accordance with applicable Northwestern policies.
4.Use of the Fund. Until the earlier of the date when gifts to the Fund reach $50,000 and December 31, 2011, gifts to the Fund shall accumulate and not be expended. If the Fund is a permanently endowed fund, the expendable income shall be used to provide undergraduate financial aid for deserving students at Northwestern. Contributors to the Fund would prefer the financial aid be granted to students demonstrating contributions to the GLBT community through leadership, service, volunteering, or research. If the Fund is an expendable fund, its assets shall be spent as the expendable income would be spent if it were an endowed fund.
5.Contingency. If it ever becomes impossible, impracticable, or inadvisable to administer the Fund in exactly the manner set forth above, Northwestern will administer the Fund in a manner that is consistent with Paragraph 1 of this statement.
6.Additions. Contributors may make additional gifts to Northwestern to be added to the Fund for as long as the Fund has a positive balance.
