S.C. Code Regs. 62-880 - Conditions Pertaining to Matching Gift Funds

Current through Register Vol. 46, No. 3, March 25, 2022

Gift Funds are to be used to match that portion of the current earnings of qualifying endowment gifts consistent with the spending rate provision as defined in section 62-850 above. Initially, that spending rate is established at five percent and may be adjusted in subsequent years. Requests for Matching Gift Funds are to be made on an annual basis and submitted on the appropriate CHE form to the Business Office of the Commission by September 30. Matching Gift Funds will be transferred through the Commission to the operating accounts of the institutions. The Matching Gift Funds must be expended on academic activities as defined in section 62-835.I above.

Notes

S.C. Code Regs. 62-880
Added by State Register Volume 22, Issue No. 6, Part 3, eff June 26, 1998; Amended by State Register Volume 23, Issue No. 5, eff May 28, 1999.

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