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Indiana Code Title 21. Higher Education § 21-38-8-3

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 3. To qualify for a matching grant from the fund, a state educational institution or a foundation must establish an endowment subject to the following criteria:

(1) The endowment must be created after July 1, 1990.

(2) Funds in the endowment must be solely dedicated for use in matching money granted from the fund.

(3) A donor to the endowment must restrict the gift for the sole purpose of generating income to attract and retain distinguished scholars.

(4) An institution or a foundation may not designate an unrestricted donation, endowment, or any other contribution made before July 1, 1990, to qualify for a matching grant.

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Cite this article: FindLaw.com - Indiana Code Title 21. Higher Education § 21-38-8-3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-21-higher-education/in-code-sect-21-38-8-3/

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