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Frequently Asked Questions for Gifts
I have a question about a new restricted gift?
I have to revise an existing restricted gift?
I have a question about the ALICE database?
I have a question regarding funds held by my department?
Gift Administration at giftawards@yale.edu
I have a question about a designation number?
I need information on current year gifts to the University?
My department receives a check?
I need information on a Yale donor?
I want to know if a donor acknowledgement has been sent?
Contribution Processing at gift.designations@yale.edu
I have a question about the BERT/Benefactor program?
I have a question about donor reporting?
I have a donor relations question?
I need information about the different ways to give to Yale?
Office of Development at development.gifts@yale.edu
I have a question about a bequest?
I have a question about a life annuity or gift annuity?
I have a question about a non–cash gift such as property or artwork?
Trusts and Estates at 203.432.1724
I have a question regarding the appropriate use of a restricted gift?
Gift Administration at giftawards@yale.edu
How do I estimate the income that will be generated by new gifts?
Log on to ALICE and use the New Gift Income Estimator
Can I take operating income and apply it to the principal of a fund?
Only with Provost approval and completing and submitting this form.
What approvals do I need for other exceptions to standard endowment language?
Indenture Exceptions and Approvals
Please see the information on the Endowment page on the Giving to Yale website.
Totaling $20.8 billion on June 30, 2013, the Endowment contains thousands of funds with a variety of purposes and restrictions. Approximately three-quarters constitute true endowment - gifts restricted by donors to provide long-term funding for designated purposes. The remaining one-quarter represent quasi-endowment, monies that the Yale Corporation chooses to invest and treat as endowment.
The Investments Office manages the Endowment and other University financial assets, and defines and implements the University’s borrowing strategies. Headed by the Chief Investment Officer, the Office currently consists of twenty–four professionals.
The target spending rate approved by the Yale Corporation currently stands at 5.25 percent. According to the smoothing rule, Endowment spending in a given year sums to 80 percent of the previous year’s spending and 20 percent of the targeted long-term spending rate applied to the market value two years prior. The spending amount determined by the formula is adjusted for inflation and constrained so that the calculated rate is at least 4.5 percent, and not more the 6.0 percent of the Endowment’s inflation-adjusted market value one year prior. The smoothing rule and the diversified nature of the Endowment are designed to mitigate the impact of short-term market volatility on the flow of funds to support Yale’s operations.
In fiscal 2012, the Endowment provided $994 million, or 35 percent, of the University’s $2.852 billion operating income. The Yale Endowment contains thousands of funds with various purposes and restrictions. Approximately three-quarters of funds constitute true endowment, gifts restricted by donors to provide long-term funding for designated purposes. The remaining one-quarter of funds represent quasi-endowment, monies that the Yale Corporation chooses to invest and treat as endowment. Donors frequently specify a particular purpose for gifts, creating endowments to fund professorships, teaching, and lectureships (24 percent); scholarships, fellowships, and prizes (17 percent); maintenance (4 percent); books (3 percent); and miscellaneous specific purposes (27 percent). Twenty-five percent of funds are unrestricted. Twenty-five percent of the Endowment benefits the overall University, with remaining funds focused on specific units, including the Faculty of Arts and Sciences (35 percent), the professional schools (26 percent), the library (7 percent), and other entities (7 percent).