Endowed Lecture Funds

The College's endowed lecture funds generate spendable income to support lectures on campus (typically annual, however, some are more or less frequent) to complement the academic curriculum.

Guidelines for administering endowed lectureships:

  • Each endowed fund has a set of terms established by the donor to the fund and formally accepted by the College. Administration and use of the fund must be done in accordance with these terms. Copies of terms are available from the Controller's Office.
  • The amount of income available for use each fiscal year is available from the Controller's Office (Lisa Gauthier ext. 3960) and should be confirmed before any monies are committed. The Controller's Office will also provide the project number to be used and name of the fund manager (who can sign off on invoices and vouchers).
  • Expenses to consider in establishing a budget include the honorarium, travel and expenses, entertainment and hospitality, printing, mailing, and technical support. It is advised that a complete budget be developed prior to committing any funds.
  • These funds must be spent according to the terms and on the schedule specified by those terms unless due cause for not spending income is filed with the Controller's Office and Office of Stewardship Programs.
  • The Office of Stewardship Programs must be notified of the event as far in advance as possible so that it can keep the donors informed. Ideally, advanced notice will allow the donors to attend the event and any related receptions or meals.

Endowment Fund Management Procedures

Bowdoin Colleges' endowment consists of approximately 1,300 individual funds for which formal terms have been established by the donor and College representative, approved by College counsel, and voted upon by the Board of Trustees. The spendable income generated from each of these funds may be restricted to a specific purpose, i.e. financial aid, professorship, faculty development, designated academic use, student research, library use, lectures, or prizes. Some endowed funds are unrestricted.

Each endowed fund has an appointed fund manager. This individual has the responsibility and authority to expend the spendable income generated on an annual basis. As required by the FASB accounting regulations, all restricted monies must be expended before the use of unrestricted funds, thus it is the responsibility of the fund manager to see that this occurs on an annual basis (exceptions might be if the fund is too restrictive whereby the terms should be renegotiated by the Development Office or there is a justified and documented reason for carrying the income over in anticipation of a major purchase or program). The fund manager must also be accountable for the use of endowment fund income - fiscally and in respect to the stewardship of those who established, contributed to or with an interest in the College's use of the fund. The fund manager is the one authorized to sign off on accounting vouchers, manage the account.