Submitted by Tracy, Nov 6, 2007 10:58

When a donor gives a gift to a university, they typically designate a specific purpose. I would expect, as I'm sure most donors do, that, when creating an endowment, the funds, including the dividends, would be used for the specific purpose outlined in the endowment. Isn't the point of an endowment to fund in perpetuity? How can that happen if the univeristy hijacks the funds and uses it to suit other purposes?

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