Designated/Restricted Funds

(FUND 1)

Elon University designated funds consist of funds supported by endowment income, funds supported by donor gifts and grants, and University funds designated for a particular purpose. Any funds remaining in a designated fund at the fiscal year end are available in the next fiscal year or until fully expended. Questions relating to designated funds should be directed to Lorraine Allen (ext. 5271) or (allenl@elon.edu).

DESIGNATED FUNDS SUPPORTED BY ENDOWMENT INCOME

General information:
-Endowment income is distributed at the end of each fiscal year on May 31 and is available for expenditure beginning June 1 of the new fiscal year.

Endowed Scholarships:
-Scholarship funds are awarded by the Financial Planning Office based on donor restrictions

Professorships and Endowments restricted to Departments:
-Budgets are managed by department chairs, deans, and/or endowed professors.

DESIGNATED FUNDS SUPPORTED BY GIFTS

-Designated funds supported by donor gifts are available for expenditure as gifts are received

DESIGNATED FUNDS SUPPORTED BY GRANTS

-Please refer to the grant tab for grant financial information

DESIGNATED UNIVERSITY FUNDS

-University funds designated for a particular purpose are available for expenditure based on each individual project.