A. This is usually a fund named for a donor or in memory of another that is intended to be permanent.

Q. What restrictions, if any, can be placed by the donor on the use of the Fund?

A. An endowment fund may be established to provide for a particular program or purpose of BBI. However, if the Fund is to run in perpetuity, the restriction should be as broad as possible to enable BBI to find other similar uses for the Fund in the event the original restriction can no longer be carried out..

Q. If the Fund is perpetual, how are grants made from it?

A. Depending upon the contribution to the Fund, it may either be limited to grants from income from year to year or be subject to a payout rule that may involve the use of principal if unable to be made from income in a particular period. Of course, the Fund Agreement may provide for alternative methods for using principal and income in order to carry out the purposes of the Fund.

Q. May a named Fund be established without designation or restriction as to use and purpose?

A. This is truly the most effective Fund for the future of BBI. With this type of Fund that may also be a perpetual endowment, the donor is relying upon BBI to determine from time to time what the needs are that are deserving of funding. In this way, BBI will be able to see that this Fund provides the most effective and needed support for BBI's programs and mission.

Q. Can a Fund be established in memory of individuals?

A. Yes. Either through a will, trust or a gift during lifetime, an Endowment Fund may be established in memory of named individuals and the name of the Fund will be listed permanently among the public records of BBI. There will also be a place of recognition for this and every other named fund established for the benefit of BBI.