What are the different types of quasi-endowments?
There are four types of quasi-endowments.
Quasi restricted endowments are the most common and are created using gift money or unspent distributions from true or quasi restricted endowments and must adhere to the donor-directed restrictions placed on the funds.
Quasi permanents are created when, as a condition of the donor agreement, the University must match the donors gift and the principal may never be withdrawn.
Quasi unrestricted endowments are created using unrestricted sources such as designated or auxiliary funds.
Quasi specific funds are one of the three types of funds above, but established with specific restrictions regarding the investment of the fund. For example, a donor may establish a quasi endowment, but require their gift only be invested in high grade government bonds. Quasi specifics are not a part of the endowment pool, and distributions are made on an individual basis.