University of Nebraska Board of Regents Board of Regents Meeting ...

TO: The Board of Regents Addendum VIII-B-2
Business Affairs
MEETING DATE: September 4, 2009
SUBJECT: Convert the Mary Elaine O’Neal Quasi Endowment into an unrestricted
fund to allow increased funding support for the Munroe-Meyer Institute
(MMI).
RECOMMENDED ACTION: Approve converting the Mary Elaine O’Neal Quasi Endowment into an
unrestricted fund to allow increased funding support for the Munroe-
Meyer Institute.
PREVIOUS ACTION: 1983 – The Board of Regents accepted the $50,000 bequest from the
Mary Elaine O’Neal estate and established the O’Neal Quasi Endowment
for use as directed by the Board of Regents.
EXPLANATION: The Munroe-Meyer Institute (MMI) at UNMC is a center for excellence
in developmental disabilities, research and outreach striving to improve
the quality of life for persons with disabilities and their families.
PROJECT COST: None
SOURCE OF FUNDS: None
In 1983, a gift was given to MMI to support the Institute and, upon
acceptance, the gift was classified as a "quasi-endowment" by the Board
of Regents. A quasi-endowment is a fund that, upon designation as such,
operates like an endowment, whereby only the earnings are spendable by
the recipient. The current balance of the O’Neal Fund is $130,000, and
the endowment is held and managed by the University of Nebraska
Foundation.
The Institute needs additional funding for start-up packages, stipends and
other initiatives. Accordingly, this action, if approved, would convert the
endowment into an unrestricted fund under the direction of the director
of MMI to support the overall mission of the Institute.
SPONSOR: Donald S. Leuenberger
Vice Chancellor for Business & Finance
RECOMMENDED: Harold M. Maurer, Chancellor
University of Nebraska Medical Center
DATE: August 13, 2009