03.F.03 – Distribution of Income from Selected Endowments
Section: Fiscal Affairs
Area: Asset Management
1. PURPOSE
This document sets forth guidelines for the distribution of income from selected University of Houston System and UH Foundation endowments established to support academic scholarships for students throughout the System.
2. POLICY
The provisions of this document apply to the following endowments:
a. Nina J. Cullinan Endowed Scholarship Fund;
b. International Paper Endowed Scholarship Fund;
c. Cullen Leadership Endowment Scholarship;
d. Delores Welder Mitchell Endowed Scholarship Fund;
e. Enron Endowed Scholarship Fund; and
f. Hugh Roy Cullen Leadership Scholarship Fund at UH Foundation.
3. GENERAL DISTRIBUTION GUIDELINES
3.1. Income from these endowments is to be used for academic scholarships. The Provost of each component university should establish criteria and procedures for distributing these awards at the component university level.
3.2. The minimum award for the Cullen Leadership Endowment Scholarship is $1,000. The minimum award for the other scholarships described herein shall be set by each component university for scholarship awards to be granted by each such component university, subject to any award requirements of the scholarships themselves.
3.3. Funds are to be distributed to each component university annually, based on income amounts posted in the general ledger on August 31 of each year.
3.4. Enrollment figures to be used for calculating proportions are fall figures for the previous year.
3.5. For the Cullinan, International Paper, and Cullen Leadership, the System Treasurer will calculate the percentage of headcount enrollment for each component university.
3.6. For the Enron Endowment, the System Office of Stewardship will obtain enrollment figures and report them to the System Treasurer's Office.
3.7. For Foundation endowments, the System Treasurer will initiate the request for funds from the UH Foundation.
4. SPECIFIC PROVISIONS AND RULES FOR SYSTEM ENDOWMENTS
4.1. Nina J. Cullinan Endowed Scholarship Fund
a. Recipients are to be notified that they are receiving Cullinan scholarships.
b. Distribution to the component universities is based on proportion of total headcount enrollment.
4.2. International Paper Endowed Scholarship Fund
a. Scholarships are merit-based to U.S. citizens who are graduates of Texas high schools, with preference to East Texas.
b. Distribution to the component universities is based on proportion of total Texas resident enrollment.
4.3. Cullen Leadership Endowment Scholarship Fund
a. Scholarships are awarded to students with leadership potential.
b. Distribution to the component universities is based on proportion of total headcount enrollment.
4.4. Delores Welder Mitchell Endowed Scholarship Fund
a. Scholarships are merit based.
b. Annual distribution to University of Houston and University of Houston -Victoria will be determined by the Chancellor.
c. Income available for distribution in excess of the amount allocated to University of Houston and UH Victoria shall be used at the discretion of the Chancellor for specific projects, services or activities.
4.5. Enron Endowed Scholarship Fund
a. Scholarships are awarded to Project GRAD graduates who are full-time undergraduate degree-seeking students in good standing
b. Distribution to the component universities is based on the head count enrollment of Project GRAD students at each component university
Issued: 03/15/1991
Last Reviewed/Revised: 12/02/2020
Responsible Office(s): Finance; Academic Affairs