The University of Chicago
The University of Chicago

Local Business Center, Division of the Physical Sciences

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Gift and Endowment Accounts

The LBC cannot create restricted gift accounts or endowment accounts directly. More often, this is handled between the Development Office and the Dean's Office. Both should be contacted prior to creating any gift or endowment accounts. There are two types of gifts and three types of endowments.

Gifts can be restricted or unrestricted. Restricted gifts are designated for a particular purpose (e.g. prizes, student support, facility construction, department functions, etc.), but unrestricted gifts are essentially general funds for the University to allocate as it chooses. Only restricted gifts receive individual accounts. To create a gift account, email a completed Form 70 to giftaccounts@uchicago.edu and include as attachments a signed Letter of Gift or Instruction from the person or company giving the gift, a copy of check(s) or payment advice, and any additional pertinent information.

Endowments can be true endowments, term endowments, and funds functioning as endowments. True endowments are when the principle is invested and only the interest is expendable. Term endowments function the same as true endowments except that there are instructions from the donor detailing that it is allowable to spend the principle after a specified period of time or when a trigger event occurs. Funds functioning as endowments are unrestricted gift funds that are invested and used like a true endowment, but the University can spend the principle at its discretion. To create an endowment account...

  • True endowment: email a completed Form 70A to endowments@uchicago.edu and include as attachments a signed Letter of Gift from donor, person, or company giving gift and a copy of checks and/or payment advices
  • Term endowment: email a signed Letter of Gift from donor, person, or company giving gift and a copy of checks and/or payment advices to endowments@uchicago.edu
  • Funds functioning as an Endowment: email a completed Form 70A to endowments@uchicago.edu and include as attachments a signed Letter of Gift from donor, person, or company giving gift; a copy of checks and/or payment advices; and a letter of request for Funds Functioning as Endowment from the Dean's Office explaining the reason for the request, the amount, where the funds are located, and any other pertinent information

When the gift/endowment accounts, contact the Development Office and/or the Dean's Office prior to closing anddiscarding documentation.

George Herbert Jones Laboratory

PSD LBC Main Office

Jones Laboratory: 5747 S. Ellis Avenue, Chicago, IL 60637

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Eckhart Hall

PSD LBC Satellite Office

Eckhart Hall: 5734 S. University Avenue, Chicago, IL 60637

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Gordon Center for Integrative Science

Chemistry Business Center

Gordon Center for Integrative Science: 929 E 57th Street, Chicago, IL 60637

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