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What is the difference between an endowed and a non-endowed fund?

Non-endowed funds offer full flexibility; endowed funds are designed to give in perpetuity — the decision is permanent.

This is one of the most important decisions on the application.

  • Non-Endowed Fund: There are no spending restrictions. The full fund balance is available for grantmaking at any pace you choose, including granting the entire balance. A non-endowed fund can be converted to endowed later.
  • Endowed Fund: Designed to last permanently. Only a portion of the fund balance is distributed each year, based on a spending policy set by the CFSEM Board of Trustees. Once endowed, a fund cannot revert to non-endowed.

If you are unsure which is right for your goals, our Donor Services team is glad to talk it through with you: (313) 961-6675 or donorservices@cfsem.org.