OT: Mr. Wirth's donation...

[coachcap]

Saw in the Hartford Courant this week the Mr. Wirth (he of the Wirth family basketball facility) just donated an additional $ 22.5 Million to the University. Question; Does this money add to UConn's endowment? I am obtuse on such matters.

 

[EdgewoodNHV]

Werth*

He donated it to create an Innovation & Entrepreneurship Institute at UConn and to fund it for a bunch of years. So no, it doesn't go to the endowment. It's earmarked for a specific purpose.

 

[LIUCHusky]

Werth*

He donated it to create an Innovation & Entrepreneurship Institute at UConn and to fund it for a bunch of years. So no, it doesn't go to the endowment. It's earmarked for a specific purpose.

The majority of funds in the endowment are earmarked for a specific purpose. I strongly suspect this does indeed add to the UConn Endowment Fund.

 

[husky8273]

The majority of funds in the endowment are earmarked for a specific purpose. I strongly suspect this does indeed add to the UConn Endowment Fund.

$20 million is not paid until he dies

 

[B1GEast]

$20 million is not paid until he dies

He must have a very nice insurance policy

 

[J187Money]

The majority of funds in the endowment are earmarked for a specific purpose. I strongly suspect this does indeed add to the UConn Endowment Fund.

You are correct. It will add to the endowment.

 

[Da_Aisijimo_Gou]

$20 million is not paid until he dies

That'll happen with estate planning ...

He must have a very nice insurance policy

... perhaps some insurance, but a very successful career with a big entrepreneurial bump enables potential multi-million donations.

 

[Husky25]

The majority of funds in the endowment are earmarked for a specific purpose. I strongly suspect this does indeed add to the UConn Endowment Fund.

The majority of funds in the endowment (any endowment) are restricted from even spending on the specific purpose for which they are earmarked. Many times, they are meant to be a fixed principle, where only the investment income is spent.