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Types of Funds
Note: These funds may be pass-through or endowed.
An ENDOWED FUND is one in which the principal is kept intact and only a certain amount of the earnings are available each year for granting purposes. Donors may require that the principal remain intact in perpetuity, for a defined period of time, or until sufficient assets have been accumulated to achieve a designated purpose.
A PASS-THROUGH FUND is one in which the fund advisor may grant out of the principal.