Eugenia portrait
Financial Status
The long-term goal is to provide a Chicago Public Schools’ student with a full, four-year academic scholarship. In order to accomplish this goal by the year 2000, the first year the scholarship will be awarded, the scholarship fund needs to raise $103,280. 5% of this figure, or $5,164, would cover the academic charges for one school year.
Eugenia M. Cobbinah Memorial Scholarship
Account Statement for the period
July 1, 1998 through January 20, 2000
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DATE

TRANSACTION

FUND BALANCE

MARKET VALUE

BUDGET ALLOCATION
7/1/98
Balance Forward
$2,363
$1,835
  
FY99 Budget Allocation
    
$96
FY2000 Budget Allocation
$438.00
    
Gifts
$8,061
    
Reinvest Income
$71
    
6/30/99
9 Month Ending Balance
$11,145
$12,073.31
  
1/20/00
Ending Balance
$20,500
    

University of Illinois Foundation Endowment Pool Policies
The University of Illinois Foundation Endowment Pool is a single pool of assets in which nearly all endowed funds established through private gifts are invested. The pool closely resembles a mutual fund.

Each endowment owns a number of units in the pool. The value of each unit at the time the funds are invested in the pool determines how many units an individual fund owns. In other words, the endowed fund buys units in the pool much as one buys shares in a mutual fund.

To minimize the cost of administration, the minimum amount required to establish a separate, permanent endowment account within the foundation is $10,000. Lesser amounts sometimes are accepted with the understanding that the fund will grow to a minimum $10,000 level within a reasonable period, usually within two or three years.
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